Conferences, Webinars, and Events
The Connecticut Captive Insurance Association will hold its annual conference next month in Hartford, where captive experts will discuss key captive issues. Connecticut is a small but rapidly growing captive insurance domicile. In 2020, Connecticut licensed 6 captives, bringing its total to 22 captives.
Despite the headwinds facing reinsurers, the good news for the industry is that many of those challenges are offset by a variety of positive factors, according to an A.M. Best analyst. Among the most significant headwinds currently confronting reinsurers is claims uncertainty around COVID-19, secondary perils, and social inflation.
The Alabama Captive Insurance Association held its annual conference this past week at the Grand Hotel Golf Resort & Spa in Point Clear, Alabama. The year's conference included a "Why Alabama" session detailing the benefits of selecting Alabama as a captive insurance domicile.
In addition to the direct impacts of the COVID-19 pandemic on many captive insurance companies and their parents, the disaster also highlighted vulnerabilities. Many organizations are looking to learn from the experience while responses to the pandemic might lead to some permanent changes in the way business is done.
As cyber insurers attempt to keep pace with growing cyber exposures, premiums are increasing and aspects of underwriters' focus are changing. While the number of cyber attacks didn't increase significantly during the COVID-19 pandemic, the success rate of attacks did increase.