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Corporate Regulation and Governance in Captives
A FREE 24-page special survey report from Captive.com
Delve into captive insurance governance matters including board attributes, board structure, and board accountability. With 30 years of insurance experience from the auditing, regulatory, and management side, Derick White, managing director of corporate governance and regulation for Strategic Risk Solutions, offers key insights into captive board governance.
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After a sharp decrease in demand for insurance this year due to the impact of the COVID-19 pandemic, the insurance industry's premium volume will recover to prepandemic levels in 2021, according to a new sigma report from the Swiss Re Institute.
Researchers at Colorado State University have updated their 2020 Atlantic hurricane season forecast, increasing their projection for named storms this season by 1 to a total of 20. The Colorado State team forecast continues to project 9 hurricanes this season, including 4 major hurricanes of Category 3 or greater.
AXA XL has named Sean McGovern CEO UK & Lloyd's market subject to regulatory approval. Mr. McGovern had been performing the role on an interim basis.
COVID-19 is adding to the challenges of Florida property insurers, who were already dealing with higher reinsurance pricing and social inflation.
The COVID-19 pandemic could curb insurers' premium and investment growth in 2020, according to a report from the Organization for Economic Cooperation and Development (OECD). The pandemic will have various impacts on insurance companies including changing demand for policies and changes in insurers' claims experience.
A recent survey of European risk managers reveals that risk management trends, such as digital transformation and the use of captive insurance, may be accelerated by the COVID-19 pandemic, some believe. The Federation of European Risk Management Associations "2020 European Risk Manager Report" collected data from 764 risk managers.
Airmic, the UK association for risk and insurance professionals, has voiced support for a framework Lloyd's of London released last week for covering business interruption caused by the COVID-19 pandemic and losses from future pandemics and systemic catastrophes.
Any benefits US commercial insurers realize from sharp premium increases will likely be delayed by the impact of the COVID-19 pandemic and related economic fallout on underwriting results, according to Fitch Ratings. Uncertain underwriting performance resulting from the pandemic will likely extend into 2021.
Insurers were able to secure sufficient reinsurance capacity at June 1 and July 1 renewals as reinsurers benefited from replenished capital and prudent risk and cost management, according to Willis Re. Reinsurers' capital returned to a point that was just 5 percent below the level at the end of 2019.
Fronting arrangements are a necessary element of many captive insurance programs, but, though the mechanism is fairly commonplace, there are distinctions—including collateral requirements—among fronting insurers. There are a number of characteristics that distinguish one fronting insurer from another.