Don't miss the November issue of "Captive Insurance Company Reports" ("CICR"), and see what a panel discussion during the Vermont Captive Insurance Association 2020 Virtual Annual Conference anticipates the captive insurance market will look like in the year 2025.
Amid hardening conditions in the traditional market, District of Columbia captive regulators are expecting the domicile's captive growth to continue. So far this year, the District of Columbia has licensed 13 captives with regulators expecting 5 to 10 more captive applications to be filed before the end of the year.
Many captive insurance company owners have used their captive as part of their property insurance program even in a soft market. Now, as insurance markets harden, a captive can take on even more value as part of a property program.
US workers compensation insurers are poised to report strong profitability this year, despite economic challenges from the COVID-19 pandemic, according to Fitch Ratings. Fitch noted that declines in economic activity resulting from the pandemic led to reduced claims frequency that is currently outpacing pandemic-related losses.
A new report from brokerage firm Gallagher suggests that the current hard market—in which the largest percentage of clients since the early 2000s experienced an increase in property premiums—is being driven by different factors than traditional hard markets.