Captive Insurance Uses and Risk Management Evolve Together

Steven Bauman

April 15, 2020

Steven Bauman

A new Captive Thought Leader Video featuring Steven Bauman, head of global programs and captive practice in North America at AXA XL, titled "The Evolution of Captive Insurance and Risk Management," has recently been added to the Captive.com video library.

Captive insurance companies have evolved into tools that allow organizations to implement their risk management strategies in a much more comprehensive way, according to Mr. Bauman. Captive insurers are involved in all types of risks, from traditional risks like property risk to emerging risks like cyber risk. Captives now are getting more involved in risks like employee benefits, pension liability, and weather risks, he says. Through their long history, captives have gained the confidence of risk managers and senior leadership to evolve into enterprise risk management tools.

Mr. Bauman says that the evolution of captives being used in areas such as pension risks, parametric coverage participation, or employee benefits allows for practical application across the entire risk profile of a corporation. He explains that captive use has been extended to encompass a much more comprehensive area for corporations that are using them over a much broader, wider spectrum.

There is no cost to view the videos, and you will find them in the Captive Thought Leader Videos section of Captive.com. More videos will be added in the future.

(Mr. Bauman is pictured above.)

April 15, 2020