Market News

Michael Maglaras & Company secured $25 million from Connecticut to support the Connecticut Foundation Solutions Indemnity Company in addressing the state's crumbling foundations crisis. The captive insurer has raised $194 million to date and is close to serving 1,000 families, with additional funding expected soon. Read More

In the latest IRMI podcast, Joel Appelbaum interviews Sandy Bigglestone and Dan Petterson from Vermont's Department of Financial Regulation. They discuss Vermont's innovative, risk-focused approach to captive insurance regulation, emphasizing personalized reviews and direct engagement with company executives. This model sets a new standard for regulatory efficiency and industry insights. Read More

Marsh Captive Solutions releases a sneak peek update of their 2023 data. Canada leads growth at 78 percent, followed by the United Kingdom/Europe at 15 percent. Traditional property and casualty coverages remain dominant, with significant increases in property (29 percent), medical stop loss (37 percent), and cyber liability (17 percent). Read More

In this IRMI podcast, Danny Linton of Pinnacle Actuarial Resources explores the increasing use of captive insurance by public entities and risk pools. He predicts significant growth in captive formations, emphasizing tailored coverage, financial stability, and cost savings as key benefits for public entities seeking enhanced risk management strategies. Read More

AXA Hong Kong and Macau's "Heatwave Parametric Insurance" protects outdoor workers from increasing climate risks during the summer. The product addresses the growing threat of heat waves, simplifying the claims process and providing solutions for workforce protection amid climate change. Read More