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The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance

The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance

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The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance explores the challenges presented by today's business and economic upheaval, as well as the hardening insurance market, and what it means for the captive insurance industry.

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Captive Insurance Can Meet Global Challenges, Marsh Report Finds

Captive Diversification
May 06, 2016

Marsh Captive Solutions has released its 2016 Captive Benchmarking Report, titled Captive Solutions: Creating Security in an Uncertain World. The report and its findings are based on data derived from more than 90 percent of the 1,250 captives that Marsh manages worldwide.

Among the selected and noteworthy findings in the Marsh report are the following.

  • The fastest-growing nontraditional risk for 2015 was multinational employee benefits, which grew 143 percent over the previous year.

  • Writing unrelated risk was cited by 17 percent of the captives surveyed as the primary reason for forming their captives.

  • The number of captives using cyber-liability programs has increased by 30 percent from 2014 to 2015.

  • There has been a 27 percent increase in the number of captives writing political risk coverage.

  • Similarly, the number of captives accessing the benefits of the Terrorism Risk Insurance Act (TRIA) has increased 17 percent over the previous year.

  • The report identifies three regions where the captive market has started to emerge: Latin America, Asia-Pacific, and the Middle East.

  • Marsh experienced a 35 percent growth rate from 2014 to 2015 of small captives electing to be taxed under section 831(b) of the Internal Revenue Code.

  • Bermuda, Vermont, and Cayman—although formations have slowed—remained the "front-runner" domiciles for 2015, with Bermuda- and Cayman-domiciled captives representing 33 percent of the premium volume benchmarked in the report.

Many other interesting facts can be gleaned from the 2016 Marsh Captive Solutions Captive Benchmarking Report, which can be downloaded from the Marsh website. (Registration is required.)

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