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

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

A FREE 12-page special report from Captive.com

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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COVID-19 Forces DC Captive Council To Cancel Annual Conference

Businesswoman pointing to images of globes and location markers with the word cancel written on the right
March 24, 2020

The Captive Insurance Council of the District of Columbia, Inc. (CIC-DC), has canceled its annual conference due to the COVID-19 virus. The event was scheduled for May 5–6 in Washington, DC.

CIC-DC announced on March 23 that it intends to reschedule the conference later this year.

"Thank you for your patience and understanding during this challenging time period," CIC-DC said in a statement.

A wide array of outside captive insurance experts were scheduled to speak at the conference, as well as captive regulators, including Dana Sheppard, associate commissioner of the DC Department of Insurance, Securities and Banking, and Sean O'Donnell, the DC Department of Insurance's director of financial examination.

The District of Columbia is one of the largest captive insurance domiciles. At the end of 2019, the District of Columbia had 148 captive insurance companies, with those captives generating $1.4 billion in gross written premiums.

The cancellation of the CIC-DC conference is the latest in a growing list of captive insurance conferences that have been canceled due to the COVID-19 virus. Other captive conferences canceled include those sponsored by the Captive Insurance Companies Association and the Western Region Captive Insurance Conference, while the Risk & Insurance Management Society also canceled its annual conference.

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