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  • New "Cyber-Physical" Risk Modeling for Property Insurers According to RMS, the risk of insurance losses through physical damage to property increases as hackers target control systems linked to the Internet. The firm has responded with a new class of "cyber-physical" risk models that explore a range of cyber-attack scenarios that can lead to physical property damage.
  • Vermont Enhances Branch Captives and Standardizes Annual Filing Date Vermont's latest captive insurance legislation recently signed into law includes regulatory enhancements for branch captives as well as the standardization of the state's annual filing date for annual reports and premium taxes.
  • Pinnacle and Carfax Connect To Deliver Data Analytics to Auto Insurers Pinnacle Actuarial Resources and Carfax Banking & Insurance have launched a data analytics group to deliver actionable, data-driven insights to automobile insurers to help them benchmark their book of business against the broader market and identify adverse selection trends in areas such as annual mileage, ownership history, and damage events.
  • Chansky and McElhiney To Chair and Vice Chair CICA Board Joel Chansky, consulting actuary, Milliman, Inc. has been elected chair of the board of directors of the Captive Insurance Companies Association (CICA). In addition to Mr. Chansky, the board elected Steve McElhiney as vice chair. Mr. McElhiney is president of EWI Re, Inc.
  • Capstone Examines Avrahami in New Captive Management Resource Capstone Associated Services has released a new captive management resource that discusses the captive insurance industry case Avrahami v. Commissioner, 149 T.C. 7 (2017). According to Capstone, the collective conversation has grown—with abundant misunderstandings—since the decision was handed down by the Tax Court in August 2017.
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Guernsey Finance Strengthens Hong Kong Presence with New Appointment

Guernsey Finance, the promotional agency for the island's finance industry, has announced that its dedicated Hong Kong presence is paying dividends as it appoints a permanent Hong Kong representative, Dorothy Kwok.
March 09, 2018 Read More
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Guernsey Captive Insurer To Cover Complex Litigation and Arbitration

Guernsey-based arbitration and litigation finance provider Burford Capital will establish its own insurance company, Burford Worldwide Insurance, in Guernsey to offer legal finance clients a new insurance product to address adverse costs risk for the larger complex commercial litigation and arbitration market.
March 09, 2018 Read More

IRMI: Indianapolis Agribusiness Conference Registration Now Open

Registration for the 2018 Emmett J Vaughan Agribusiness Conference (AgriCon), to be held June 6–7, 2018, at the Westin Indianapolis in Indianapolis, Indiana, is now open. This will be the second of three planned regional conferences focusing on risk management and insurance for farms, ranches, and other agribusinesses.
March 08, 2018 Read More
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NAIC Releases 2017 Property-Casualty Insurer Market Share Data

The National Association of Insurance Commissioners (NAIC) recently released data on property-casualty insurers. The data include market share information indicating the degree of market concentration in lines of business and identify leading insurance writers. The 2017 market share data include countrywide direct written premium for the top 25 insurers.
March 08, 2018 Read More

Farewell to a Friend

IRMI is saddened to report the passing of Donald J. Riggin, a captive expert and CEO of the ART of Captives, LLC.
March 07, 2018 Read More
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Where Things Stand—Insurance, Reinsurance, and Alternative Capital

As we approach the end of the first quarter of 2018, where do insurance market conditions stand? What are the forces driving market conditions, and what do captive insurers need to know?
March 07, 2018 Read More
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Paul Bailie To Lead Willis Towers Watson's Bermuda Captive Business

Willis Towers Watson has appointed Paul Bailie as head of its Bermuda captive practice. Mr. Bailie, a 30-year captive insurance industry veteran, will be responsible for business development and designing, forming, managing, and providing strategic guidance to Bermuda captive and insurance management clients.
March 07, 2018 Read More
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P&C Industry Awash in Capital, According to KBRA 2018 Outlook Report

Kroll Bond Rating Agency (KBRA) released its latest report, titled "Insurance: U.S. Property/Casualty Industry 2018 Outlook." According to the report, the US property and casualty industry has experienced favorable operating trends since 2012, with the following prevailing positive conditions: capital growth, no major catastrophes until third quarter 2017, abundant reinsurance capacity, and favorable reserve releases.
March 06, 2018 Read More
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Inbound: AXA and XL Group Number One Global P&C Commercial Lines Insurer

AXA is set to acquire 100 percent of XL Group Ltd., for a total consideration of $15.3 billion. The transaction is expected to be completed in the second half of 2018. This transaction will enable the Group to become the number one global property and casualty (P&C) commercial lines insurer based on gross written premiums.
March 06, 2018 Read More
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NAIC President To Attend CICA Conference

The Captive Insurance Companies Association (CICA) has announced that Julie Mix McPeak, president of the National Association of Insurance Commissioners (NAIC), will attend the CICA 2018 International Conference March 12 at the Westin Kierland Resort and Spa in Scottsdale, Arizona. Online registration closes at noon, central standard time, March 6.
March 05, 2018 Read More
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