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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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Airmic Cancels Annual Conference Due to Coronavirus Pandemic

A red circle with a white line through it and the word canceled over it in black
March 26, 2020

London-based Airmic has joined the ranks of industry organizations canceling their annual conferences due to the novel coronavirus pandemic. Airmic's conference had been scheduled for June in Edinburgh.

In a statement, Airmic said it came to the decision after working through the association's risk management process and considering different scenarios.       

"We have taken this decision reluctantly," the statement said. "Our focus has to remain with the well-being of the risk community and an awareness of our wider responsibility to support the fight against the virus—health and safety remain our priority."

Airmic said it is in the process of developing answers to members' and stakeholders' questions about the cancellation and asked for patience while it prepares a summary of immediate questions and answers.

"These exceptional circumstances have highlighted the value of intelligent risk management, and Airmic has transformed itself into a virtual association in order that we can continue to support members and stakeholders through our education, training, and technical output," the group said.

The organization said that if there are opportunities to hold networking events, including its ERM Forum and Annual Dinner, later this year, it will do so. "However, a large conference, which takes months to organize, is highly unlikely to occur this year," Airmic said.

Industry events canceled or forced to reschedule thus far due to COVID-19 have included the Captive Insurance Companies Association's (CICA's) International Conference, the Western Region Captive Insurance Conference, and the Risk and Insurance Management Society's Annual Conference and Exhibition.

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