Market News
EXPRO Employee Benefit Submission Model for Captives
The Health Care Services Group (HCSG) and its wholly owned captive insurer, HCSG Insurance Corporation, submitted a Prohibited Transaction Exemption 96-62 (EXPRO) to the US Department of Labor (DOL) providing a model for those considering funding of employee benefits in a captive. That submission has met the requirements for authorization of the DOL. The next step for the captive, HCSG Insurance Corp., is to seek the approval to write the employee benefit coverages from the Captive Insurance Division in New Jersey where it is domiciled. Read More
New York Times Article Continues Attack on Life Insurance Captives
An April 11, 2015, New York Times article, Risky Moves in the Game of Life Insurance Read More
State of the Captive Insurance Market Included in Marsh Report
The Marsh United States Insurance Market Report 2015 offers an overview of the current state of the captive insurance market as part of a look at major lines of insurance, key specialties, and more than 24 industries. Read More
New Statistical Reporting Organization Formed To Serve ART Entities
A new organization, Alternative Risk Transfer Statistical Solutions, Inc. (ARTSSI), has been formed as an advisory organization to collect business-model-specific premium and loss information to address the needs of alternative risk transfer entities. Read More
NAIC Adopts Actuarial Guideline Only for Life Insurer-Owned Captives
XXX/AXXX captive arrangements are subjects of the new NAIC Actuarial Guideline 48 that establishes uniform standards for reserve financing arrangements. Read More