Market News
Reinsurance Market Described as Stressed but Sound at April 1 Renewals
The global reinsurance market demonstrated discipline at April 1 renewals similar to that seen in January, though with a more intense focus by reinsurers on pricing and contract improvements across all territories and business lines, according to Gallagher Re. The reinsurance market remains under stress but sound, Gallagher Re says. Read More
NRRA Opposes Florida Bill It Says Would "Discriminate" Against RRGs
The National Risk Retention Association (NRRA) is opposing a Florida bill that would revise the state's motor vehicle law in a way the association says would "discriminate" against risk retention groups (RRGs) writing commercial auto coverage in Florida. The bill is currently making its way through Florida Senate committees. Read More
April "CICR" Examines Captives' Tree Connection
Don't miss the April issue of "Captive Insurance Company Reports" ("CICR"), which examines the GreenTrees project, a program that's employing captive insurance as part of its effort to conserve and restore forests to help reduce the level of carbon in the atmosphere. Read More
The Captive Solution to Climate Risks
As organizations find themselves increasingly affected by extreme weather, captive insurance can help them address the new risks confronting them. Using captives as a strategy for addressing risks having historically proven either uninsurable or difficult to quantify can play a vital role in protecting an organization's well-being. Read More
North Carolina Bill Would Extend Redomestication Premium Tax Exemption
Legislation recently introduced in North Carolina would extend a now expired 2-year exemption from state premium taxes for captive insurance companies that redomesticate to North Carolina. Under the measure, SB 319, captives that redomesticate to the state would be exempt from premium taxes until January 1, 2025. Read More