Captive Insurance News

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  • Using Artificial Intelligence To Create Insights into Insurance Risk XL Catlin's internal innovation team, Accelerate, will team up with Cytora, a UK-based insurtech start-up, to use artificial intelligence and open source data to create new insights into risk by leveraging Cytora's expertise in sourcing, analyzing, and combining data from multiple sources.
  • Cayman Island Insurance Company Formations Clipping Along in 2017 To date for 2017, the Cayman Islands Monetary Authority has issued 23 new insurance company licenses. This count includes 20 Class B licenses and 3 Class C licenses. The 2016 year ended with a grand total of 39 new insurer licenses, following 22 in 2015 and 23 in 2014.
  • The US 2017 Billion-Dollar Weather and Climate Disasters Count Hits 15 Since June 2017, six weather and climate events impacted the United States with costs exceeding $1 billion. The events included Western wildfires, Northern Plains drought, severe weather in the Midwest, and Hurricanes Harvey, Irma, and Maria. This brings the year-to-date total to 15 separate billion-dollar weather and climate disasters.
  • Tennessee Delivers 3 Modernized Rules for Captive Insurers The Tennessee Department of Commerce & Insurance is ushering in new, more modern rules to guide the Volunteer State's burgeoning captive insurance industry. The new rules relate to dormancy, audits, and financial exams.
  • Swiss Re sigma Study: Deep Changes, New Risks, and New Opportunities The Swiss Re sigma study "Commercial insurance: innovating to expand the scope of insurability" reveals that product development and innovation around data and data analytics have expanded the scope of insurance solutions to a wider range of threats and perils and made risk transfer more efficient.
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  Key to Success-SF

5 Key Attributes of Captive Managers

Captive managers are an integral part of any captive insurance program. But what are the key attributes that captive insurers and their owners should look for when evaluating and selecting a captive manager? Here are five for consideration.
October 11, 2017 Read More
  D DeKoning-SF

Butler University Provides a Tailored "Captive" Talent Crisis Solution

Butler University is hard at work providing a tailored, student-driven "captive" solution for the insurance industry's growing talent crisis. The unique strategy of Butler University's risk management and insurance program captive formation is that, unlike other universities with similar programs, it is completely driven and led by millennials.
October 11, 2017 Read More
  Negative Trend 480x377

IVANS September: Workers Compensation Renewal Rate Dips Again in the Third Quarter

IVANS has announced third-quarter results in the "IVANS Index: Premium Renewal Rate Index." Third quarter results showed that the variable premium renewal rate change is average across business owner's policy, commercial property, and workers compensation compared to second quarter. Workers compensation remains the only line of business experiencing a negative premium renewal rate change.
October 10, 2017 Read More
  Cyber Insurance-SF-2

Underwriting Exposures and Cyber-Insurance Evolution Examined by Fitch

A Fitch report finds that cyber-insurance has been a profitable business line for early entrants and is a rapid growth segment, with global premium volume set to increase six- to eightfold within a decade. The report reveals challenges faced by insurers and policyholders and identifies key risks and opportunities.
October 09, 2017 Read More
  Hurricanes Maria and Jose 480x377

IRMI Expands Free Information Resources To Include Hurricane Maria

International Risk Management Institute, Inc. (IRMI), has opened several resources to the public at no charge to help victims and insurance professionals navigate the insurance process after the devastation of Hurricanes Harvey, Irma, and Maria.
October 06, 2017 Read More
  Workers Comp 480x377

Employee Benefits as a Share of Payroll at Lowest Level Since 1980

A report from the National Academy of Social Insurance titled "Workers' Compensation: Benefits, Coverage, and Costs" has revealed that workers compensation employer costs as a share of payroll declined in 2015, reversing a 4-year trend, and benefits as a share of payroll fell for the fourth straight year.
October 06, 2017 Read More
  Flag of Mexico waving against a blue sky

RMS Caps Insured Losses from Puebla Earthquake at $1.2 Billion

Catastrophe risk modeling organization Risk Management Solutions (RMS) has provided its initial loss estimates following the Puebla earthquake in Central Mexico on September 19, 2017. RMS said that economic shake losses will be between $4 billion and $8 billion, but it expects that insured losses will not exceed $1.2 billion.
October 05, 2017 Read More
  Connecticut state flag

Charter Communications Moves Entire Captive Operations to Connecticut

Stamford-based Charter Communications, the nation's second-largest cable company, recently expanded its business footprint in Connecticut by basing its entire captive insurance operations in the state. Its captive, Spectrum Communications Indemnity, Inc., is the largest of 15 captives licensed in Connecticut.
October 05, 2017 Read More
  Lloyds of London Building-MC

Coverys Syndicate 1975 To Provide Re/Insurance Capacity

Coverys, a leading provider of medical professional liability insurance, has announced that the Lloyd's Franchise Board has granted "in principle" approval for Coverys to establish Coverys Syndicate 1975. The syndicate will provide insurance and reinsurance capacity to healthcare and provider organizations, captive insurers, and risk retention groups.
October 04, 2017 Read More
  Tax Reform-SF

Eversheds Sutherland Observations on the Unified Tax Framework

Eversheds Sutherland provides its observations on the Republican unified tax framework. The framework is intended to serve as a "template" for the tax-writing committees, the House Ways and Means Committee, and the Senate Finance Committee to draft tax reform legislation.
October 04, 2017 Read More
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