Conferences, Webinars, and Events
For some companies, the move into captive insurance can be a process that evolves with the business, with the organization starting with a segregated cell before ultimately moving into a wholly owned captive. Economies of scale might become available as companies move along the size and premium spectrum.
The COVID-19 pandemic has changed health care in many ways, with those changes increasing employers' consideration of captive insurance stop-loss arrangements. Rising healthcare costs had employers moving to place stop-loss coverage in captives even before the pandemic. Changes in healthcare delivery and shifting employee demographics are increasing the trend.
Among the major changes forced by the COVID-19 pandemic was a move to remote working for many organizations, an arrangement likely to persist after the pandemic in some fashion and bring with it certain risks. Among other things, organizations must apply remote working policies fairly.
The experiences of the COVID-19 pandemic have forced organizations to think more about risks and resilience, including finding a way to balance the near-term crisis with longer-term exposures, according to a panel of experts. The pandemic has prompted organizations to think more effectively about both expected risks and unexpected ones.
The 2021 Bermuda Captive Conference will be held virtually on June 14 and 15 under the theme "Resilience." The conference will explore how risk managers and major corporations have adapted to the demands the pandemic imposed as well as the changes the pandemic brought to the world.
While many organizations' rush to form captive insurance companies in response to the hardening market might make it seem that often captives aren't formed until a crisis occurs, many times the crisis gives a final nudge to a captive already in the works.
The COVID-19 pandemic might have slowed the growth of captive insurance in 2020, but use of existing captives has expanded as owners respond to the pandemic and the hardening commercial insurance market. As insurance buyers face higher premiums and coverage unavailability in the commercial market, they're looking for alternatives.