Legislation recently approved by Montana lawmakers and signed into law by Governor Greg Gianforte eliminates mandatory examinations every 5 years by the state insurance commissioner or an examiner appointed by the commissioner for most captive insurance companies. Instead, examinations would be conducted as often as the insurance commissioner "considers advisable."
February 2021 was Earth's coldest February since 2014, according to the US National Oceanic and Atmospheric Administration, though the Northern Hemisphere experienced its eighth-warmest winter (December through February) in 142 years. Though it was the coldest February in 7 years, it was the 16th-warmest February on record.
The three finalist teams in the Captive Insurance Companies Association’s (CICA) "Using Captive Insurance To Better Manage Risk, Improve Your Bottom Line" essay contest will present their captive solutions in a webinar at 1 p.m. (eastern) March 31. CICA's annual college student essay contest is sponsored by Strategic Risk Solutions.
Asked to identify the top risks they face, businesses' responses in a recent survey were shaped by the impacts of the COVID-19 pandemic. Ranking at the top of the most important global business risks for 2021 in this year's Allianz Risk Barometer are business interruption, pandemic outbreak, and cyber incidents.
A group of 17 US property-casualty reinsurers wrote $65.0 billion of net premiums during 2020, according to a survey of the reinsurers' statutory underwriting results conducted by the Reinsurance Association of America. The group's 2020 premiums were an increase from the $57.7 billion in net premiums written in 2019.