Conferences, Webinars, and Events
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.
Captive insurance has evolved over the past 30 years with an expansion of the types of parents forming captives and greater choice of domiciles. Today, captive insurance companies are writing a broad variety of risks in captives as they deal with emerging exposures and a hardening commercial market.