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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  ICCIE Trained Organization 480x377

Delaware's Captive Insurance Program Dedicated to Excellence

Insurance Commissioner Trinidad Navarro recently announced that the International Center for Captive Insurance Education (ICCIE) has designated the Delaware Insurance Department Bureau of Captive and Financial Insurance Products as an ICCIE Trained Organization. Delaware is one of only two states that has applied for and received this recognition.
August 18, 2017 Read More
  Lightning Strike

First Half of 2017: Biggest Catastrophe Losses Come from US Thunderstorms

According to the Swiss Re preliminary sigma estimates, global total economic losses from natural catastrophes and man-made disasters in the first half of 2017 were $44 billion. Severe thunderstorms in the United States resulted in the largest catastrophe losses, with overall US insured losses totaling $23 billion.
August 18, 2017 Read More
  Photo of David Gibbons, Bermuda Captive Conference chair, and event logo

Bermuda Captive Conference Chair David Gibbons Fills in the Blanks

This week, sat down with David Gibbons, chair of the Bermuda Captive Conference, to discuss the 13th annual event, which is September 10–13 at the Fairmont Southampton Resort. Mr. Gibbons encourages readers to register online now to avoid missing out on this paramount event.
August 17, 2017 Read More
  Leadership Key-SF

The Emotional Intelligence Competencies of an Effective Leader

Understanding the difference between leading and managing is understanding the difference between winning and losing in cutthroat markets. Pure managers make the system work, but leaders make things happen. They make the people around them better. Effective leaders should pay attention to and work to master key emotional intelligence competencies.
August 16, 2017 Read More
  VCIA Hot Topics 2017-SF

Vermont Provides Most Current Captive Insurance Figures at VCIA Conference

Vermont's most current captive insurance figures were outlined by Sandy Bigglestone, State of Vermont director of captive insurance, during a "Hot Topics" panel held August 10 at the Vermont Captive Insurance Association (VCIA) 2017 Annual Conference. Vermont's numbers make it the leading captive domicile in the United States.
August 16, 2017 Read More
  National Risk Retention Association logo

Attendees Will Peer into the Future of Insurance at NRRA Conference

Register now for the 2017 National Risk Retention Association Conference, happening September 26–28 in Chicago. At "Business to Business: The NRRA Edge," attendees will find out how to solve today's pressing issues and develop solutions for tomorrow's problems.
August 15, 2017 Read More
  2017 VCIA agency captives panelists: Jesse Crary, Bob Gagliardi, Peter J. McDougall

Vermont Agency Captive Insurance Law Details Revealed

Vermont's captive bill (H.85), signed into law May 1, added agency captives to the types of captives that can be formed in the state. An agency captive is a reinsurance company formed/owned by an insurance agency or brokerage to provide reinsurance to its insured clients.
August 15, 2017 Read More

Captive Insurance Pre-Formation and Feasibility Discussed by Panel

The Vermont Captive Insurance Association 2017 Annual Conference provided attendees with sessions from the basics to the most advanced. "Captives 101: Where the Mission Begins" was a foundational course for those new to captive insurance or those needing a refresher. Among other aspects, the session reviewed captive pre-formation and the captive feasibility processes.
August 14, 2017 Read More
  Martin Eveleigh

How Single-Parent Captives Can Benefit from Captive Risk Pooling

Many single-parent captives insure only the risks of just one or a few insureds and will be unable to achieve risk sharing. One solution involves joining a risk pool. The benefits of captive risk pooling are explained in this video by Martin Eveleigh of Atlas Insurance Management.
August 14, 2017 Read More

MSI's Jeremy Colombik To Speak on Captive Benefits at NCCIA Conference

The North Carolina Captive Insurance Association (NCCIA) will host its third annual Captive Insurance Conference on August 21–23. Over 200 captive industry professionals are expected to attend. NCCIA board chairman Jeremy Colombik, of Management Services International, will participate in a panel on maximizing the benefits of captive ownership.
August 11, 2017 Read More
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