Captive Insurance News

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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.
Captive-Trends 2018

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  Lynn Sheils-SF

What Are the Key Claims Handling Considerations for Captive Owners?

When a captive insurer is considering whether to self-administer claims or to handle with an outside third-party administrator, Lynn Sheils, general counsel of EWI Reinsurance, advises that the captive owner should be thinking about three key areas: insured coverage lines, anticipated claims volume, and required captive resources.
March 05, 2018 Read More
  Up and Down Graph 480x377

SRS Charts the Total Number of Active Captives for 2017

Charts on the total number of active captive insurance companies were compiled by Strategic Risk Solutions (SRS) and presented at a recent SRS webinar, "The State of the Captive Insurance Market." The charts include captive counts, by captive domicile, for key US and international domiciles.
March 02, 2018 Read More
  Europe Continent 480x377

Strategic Risk Solutions Europe Launches Carbon Emission Risk Program

Strategic Risk Solutions Europe has announced the launch of its carbon emission risk program. The program will initially involve a series of workshops where sustainability directors and risk managers are invited to learn how they can identify, manage, and finance the carbon emission risks their firms face.
March 02, 2018 Read More
  Bermuda flag-SF

Bermuda Continues To Lead Global Insurance-Linked Securities Market

Bermuda registered a total of 58 new insurers in 2017, ranging from captives and long-term re/insurers to special purpose insurers, according to the latest Bermuda Monetary Authority statistics.
March 01, 2018 Read More
  technology upgrade-SF

Insurers Remain Behind the Technology Curve and They Know It

A.M. Best believes insurance companies' investments in technology upgrades would help them to remain relevant and benefit financially over the long term. A recent A.M. Best survey shows that insurance companies concur and are increasingly harnessing data to improve all aspects of their business.
March 01, 2018 Read More
  Tax Law Calculator-SF

Captive Insurance Persists Despite the New Tax Law

"Captive Insurance Company Reports" Editor Mike Mead says that in the wake of tax reform following the passage of the Tax Cuts and Jobs Act, some may need to be reminded of the premise that taxes are not a reason to form a captive insurance company.
February 28, 2018 Read More

5 Top Tips for Building a Board of Directors

The role of the board of directors has evolved over the last decade. Today's boards need to be more strategically focused. We offer some top tips for building your captive board from scratch or reinventing a board for a more mature captive.
February 28, 2018 Read More
  Europe 480x377

Survey Tracks Global Cyber-Risk Perception Leading into GDPR Implementation

The upcoming implementation of the European Union's General Data Protection Regulation (GDPR), that takes effect in May 2018, has elevated cyber risk to the top of the corporate agenda for organizations doing business in Europe according to a Marsh report titled "GDPR Preparedness: An Indicator of Cyber Risk Management."
February 27, 2018 Read More
  Tonga Flag 480x377

Behind Cyclone Gita, Captive Insurer Provides Record Payout to Tonga

Seven days after Cyclone Gita ravaged Tonga, its government received a $3.5 million insurance payout from the Pacific Catastrophe Risk Insurance Company (PCRIC), according to the World Bank. PCRIC is a captive insurance company whose parametric insurance policies are designed to payout within 10 days of a triggered event.
February 27, 2018 Read More
  Long-Term Care-SF

Demand for Long-Term Care Products Outpaces Supply

A steady increase in claims and unfavorable experience for long-term care insurers, combined with needed reserve increases, have continued to place pressure on many long-term care insurers' capital and earnings, according to a new A.M. Best report on the segment.
February 26, 2018 Read More
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