Market News

Captive insurance companies licensed in other domiciles would have a new incentive to redomesticate to North Carolina under legislation introduced March 25 in the North Carolina Senate. The measure would create temporary premium tax exemptions for captives redomesticating to North Carolina before December 31, 2022. Read More

While large-scale terrorism events have declined in recent years, significant increases in riots, demonstrations, and vandalism have made civil unrest the main political risk exposure for companies, according to Allianz Global Corporate & Specialty (AGCS). Recent occurrences of civil unrest have resulted in significant losses and insurance claims. Read More

Boards of directors need to play a more active role in protecting their organizations from cyber risks, according to a study released by the World Economic Forum (WEF). While the failure of cyber security is a "clear and present danger," responses from boards have been fragmented, a WEF statement said. Read More

Despite the combined impact of elevated catastrophe activity and the COVID-19 pandemic during 2020, the insurance-linked securities (ILS) and traditional reinsurance markets demonstrated resilience at January renewals, according to A.M. Best. Global reinsurance capital returned to its pre-pandemic level of $485 billion as 2020 ended. Read More

Strategic risks are among the most threatening to many organizations but are an area where creative thinking and captive insurance can help organizations address perils and improve performance. Organizations can achieve creative solutions by marrying captive insurance with risk identification, risk financing, and a risk portfolio perspective. Read More