An upcoming webinar from Captive Alternatives (CapAlt) aims to help businesses understand how alternative risk transfer can help them prepare for what's ahead. The webinar, scheduled for 1 p.m. (EDT) on Thursday, October 8, 2020, will focus on how CapAlt's private insurance risk management strategy can help small and middle-market business owners.
Marsh set up 76 new captives in the first 6 months of 2020, and its captive insurance leader said she expected more to come in the next 18 months. The number of new formations was more than a 200 percent increase compared to the same period in 2019.
The COVID-19 pandemic has amplified the challenge posed by a siloed approach to business continuity management and crisis management, according to a new report examining risk professionals’ response to the crisis. The report found that the pandemic has highlighted a frequent disconnect between strategic risk and operational resilience and response.
Catastrophe risk modeling firm RMS estimates that insured losses from wildfires in the western United States will be between $4.0 billion and $8.0 billion. RMS said the projected losses reflect estimates as of September 20, 2020, and indicated that the losses are likely to increase as many fires are still ongoing.
Catastrophe risk modeling firm AIR Worldwide estimates that Hurricane Sally caused $1 billion to $3 billion in insured onshore property losses as a result of wind, storm surge, and inland flood. Wind was responsible for the majority of the losses, AIR said.