International Risk Management Institute, Inc. (IRMI®), President and CEO Jack Gibson was recently honored by the Coverage, Litigators, Educators, and Witnesses Interest Group of the CPCU Society as the recipient of the Gottheimer Malecki Memorial Award.

While only a sliver of captive insurance companies fund their parents' employee benefit risks, the number is growing as more companies understand the advantages of that approach, experts say.

Pinnacle Actuarial Resources, Inc., has promoted Aaron N. Hillebrandt and Christopher C. Cortner, reinforcing the firm's captive insurance expertise.

Kroll Bond Rating Agency (KBRA) has affirmed the financial strength rating of A- of Premia Reinsurance Ltd., a Class 4 Bermuda specialty reinsurer focused on acquiring nonlife runoff liabilities. KBRA believes its sound capitalization is sufficient to support the company's planned acquisition strategy of runoff liabilities in the medium term.

What is a captive feasibility study? A feasibility study is a study undertaken to determine whether a contemplated risk financing program is feasible for a particular organization or group of organizations. A study, or a proposal for a captive feasibility study, should always begin by stating its scope and purpose.

The Federation of European Risk Management Associations (FERMA) said that it welcomes the European Commission's draft guidelines on artificial intelligence (AI) ethics. FERMA believes that the development and application of AI have growing implications for European risk managers.

Registration is now open for the 15th Bermuda Captive Conference. The 3-day conference, planned for June 10−12, is staged at the Fairmont Southampton and is Bermuda's largest industry event.

Raleigh, North Carolina-based captive manager Management Services International (MSI) recently announced that John Dohn has joined the company as its national sales manager. In tandem with Mr. Dohn's arrival at the firm, MSI is also set to release its first podcast, titled "Captive Insurance for Dummies."

Bermuda licensed 19 new captive insurance companies in 2018, up slightly from 17 in 2017 and 13 in 2016, though the total number of captives in Bermuda continued to fall, domicile officials said Wednesday.

USI Insurance Services (USI) will acquire U.S. Risk Insurance Group (U.S. Risk), one of the nation's largest property and casualty program and specialty brokerage firms. The transaction is expected to close in the second quarter of 2019.