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  • William Wood Joins Artex Bermuda as Director, Captive and Commercial William Wood has joined Artex Bermuda as director, captive and commercial, for Artex’s Bermudian operations. In the newly created role, Mr. Wood joins the office's senior management team and is responsible for leading Artex's Bermuda captive insurance and commercial insurance and reinsurance management operations.
  • Forecasters Now Predict "Extremely Active" Atlantic Hurricane Season Two leading forecasters have upgraded their projections for this year's Atlantic hurricane season, with both now expecting an "extremely active" storm season. Both the National Atmospheric and Oceanic Administration and researchers at Colorado State University have increased the number of hurricanes they expect this year.
  • CICA Settles Insurance Claim over 2020 Conference Cancellation The Captive Insurance Companies Association (CICA) has settled its event cancellation insurance claim with Tokio Marine HCC for the cancellation of CICA's 2020 International Conference due to the COVID-19 pandemic. CICA has previously indicated that it purchased event cancellation for the conference.
  • ICCIE To Hold Virtual "Sweet 16" Anniversary Celebration The International Center for Captive Insurance Education (ICCIE) will mark the 16th anniversary of its launch with a virtual "Sweet 16" anniversary celebration. The event will be held online at 7:30 p.m. (EDT) Monday, August 10 and will feature Associate in Captive Insurance certificate presentations and other activities.
  • Joshua Clark Joins Tennessee Department in Captive Development Role Joshua Clark, a veteran insurance executive, has joined the Tennessee Department of Commerce & Insurance as director of business development. In his new role, Mr. Clark will be involved in attracting more captive insurance companies to the state.
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FERMA Seeks EU Financial Resilience Framework for Catastrophic Risks

The Federation of European Risk Management Associations (FERMA) has called on the European Commission to create a European Union business interruption resilience framework for catastrophic risks. FERMA called on the commission to address the "severe shortage" of business interruption insurance for disruptions that don't involve physical damage.
May 28, 2020 Read More
  Captive Globe-SF

June "CICR" Explores Future of Risk Management

Don't miss the June issue of "Captive Insurance Company Reports" ("CICR"), which discusses the emerging volatility, uncertainty, complexity, and ambiguity world and the role captive insurance can play in addressing the changing risk landscape.
May 28, 2020 Read More
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Understanding Artificial Intelligence and Asset Management

As in other areas of the captive insurance world, artificial intelligence (AI) is becoming an increasingly important component of the asset manager's tool kit. This article provides a brief primer on AI and asset management by way of a discussion with Alton Cogert of Strategic Asset Alliance.
May 27, 2020 Read More
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Paul Owens Joining Strategic Risk Solutions as Board Member, Adviser

Paul Owens will join the Board of Directors of Strategic Risk Solutions, Inc. (SRS), serving as an independent director as well as a strategic adviser to SRS. Mr. Owens retired as CEO of Willis Towers Watson's Global Captive Practice earlier this year.
May 27, 2020 Read More
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Future Uncertain for Bill To Allow Risk Retention Group Expansion

Four months after a congressional hearing was held on legislation introduced last year that would allow certain risk retention groups (RRGs) to expand coverages offered to their policyholders, the future of the bill remains uncertain. Under that measure, H.R. 4523, RRGs would be allowed to offer property coverages.
May 26, 2020 Read More
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NOAA Forecast Calls for Active North Atlantic Hurricane Season

The National Oceanic and Atmospheric Administration (NOAA) is predicting an above-normal Atlantic hurricane season this year with a range of 13 to 19 named storms of which 6 to 10 could become hurricanes, including 3 to 6 major hurricanes. The Atlantic hurricane season runs from June 1 through November 30.
May 26, 2020 Read More
  Money and an Hourglass

Insurance Groups Offer Alternative Pandemic Backstop Proposal

A group of insurance trade associations has proposed a new federal program that would provide revenue replacement for businesses affected by future pandemics. The taxpayer-backed Business Continuity Protection Program would provide participating businesses with revenue replacement assistance for payroll, employee benefits, and operating expenses following a presidential viral emergency declaration.
May 22, 2020 Read More
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Life/Health Cat Bonds Likely Most Affected by COVID-19: A.M. Best

Life/health-related catastrophe (cat) bonds face the greatest risk of losses from the COVID-19 pandemic, compared with other insurance-linked securities (ILS), according to A.M. Best. Best suggests that the COVID-19 pandemic's overall impact on the ILS market—including most catastrophe bonds—should be limited.
May 22, 2020 Read More
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ICCIE Webinars Focus on Regulators' Views of COVID-19 and Captives

The International Center for Captive Insurance Education (ICCIE) has scheduled two hot-topic webinars focused on how regulators are addressing the COVID-19 pandemic and captive insurance companies. The first webinar focuses on captive insurance companies during the pandemic and the second looks at captives after the crisis.
May 21, 2020 Read More
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S&P Revises Global Reinsurance Outlook to Negative on COVID-19 Impact

COVID-19 pandemic has led S&P Global Ratings to revise its outlook for the global reinsurance industry to negative from stable. S&P said that pandemic-related losses combined with volatile capital markets and lower investment returns will likely prevent the global reinsurance sector from meeting earnings expectations.
May 21, 2020 Read More
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