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Corporate Regulation and Governance in Captives

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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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Captive Insurers Should Watch Workers Compensation Issues

Disability Insurance
January 29, 2016

There are a number of workers compensation issues that captive insurers providing this coverage should be following.

A recent Insurance Thought Leadership.com (ITL) article, "20 Work Comp Issues to Watch in 2016," by Kimberly George and Mark Walls, January 20, 2016, provides an excellent way to get an update.

Selected issues detailed in the article are the following.

  • Continuing viability of workers compensation because of its shortcomings

  • Possible federalization because of vast benefit differences among states

  • Exemptions from workers compensation protections for various sizes of employers and types of employees

  • Options to workers compensation in some states

  • Regulatory reform potential in New York, Florida, Illinois, and California

  • ICD-10 medical classification and 2019 Medicare plans to roll out an incentive-based reimbursement model tied to patient outcomes

  • Use of medical marijuana as a treatment under workers compensation

  • Continuing efforts of plaintiff attorneys to find ways around the exclusive remedy

  • Increased Occupational Safety and Health Act (OSHA) reporting and record-keeping requirements

Although the Insurance Thought Leadership article does not prioritize the 20 issues, it is worth reading.

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