Market News
Vermont Licensed 41 Captives in 2022 as Captive Count Grew to 639
Vermont licensed 41 new captive insurance companies in 2022, bringing the domicile's total number of captives to 639, up from 620 in 2021. The 41 new captive formations in 2022 made it Vermont's sixth-highest year of growth in its 41-year history as a captive insurance domicile. Read More
Pricing, Loss Severity Uncertainty Pose Workers Compensation Concerns
US workers compensation insurers' results will continue to benefit from a long-term trend of claims frequency improvement due to improved safety and risk management practices along with the recognition of loss reserve redundancies from prior underwriting years, according to Fitch Ratings. Read More
Cyber, Business Interruption Top Risks in "Allianz Risk Barometer 2023"
Cyber incidents and business interruption ranked at the top of businesses' top risk concerns in the "Allianz Risk Barometer 2023" from insurer Allianz Global Corporate & Specialty. The top two risks in this year's "Allianz Risk Barometer" held the same spots in the 2022 report. Read More
Cell Captives Made Up Most of Nevada's 29 New Formations in 2022
Nevada licensed 29 new captive insurance companies in 2022. Of the 29 new captives, 25 were protected cell captives and 4 were single-parent captives. Including cell captives, Nevada had 299 captives at the end of 2022, up from 295 in 2021. Read More
Zurich, ICS Form Sustainability-Focused Envision Re Group Captive
Zurich North America and Innovative Captive Strategies (ICS) have collaborated to form Envision Re, Ltd., a group captive insurance company focused not only on members' risk management programs but also their sustainability efforts. ICS will manage the Envision Re captive. Read More