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.
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Captive Insurance Issues and Trends 2018

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Custody for Captive Insurers

Martin Ellis, manager of Comerica Bank’s Captive Insurance Group, says custody for captive insurers is the holding or safekeeping of a captive's financial assets in an account. Custodians' duties include (1) reporting, (2) settling trades, (3) collecting dividend and interest income, (4) handling proxy voting, and (5) Schedule D reporting.
January 22, 2018 Read More
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Captive Insurance Veteran Jocelyn Lyman Joins JLT Insurance Management

To accommodate its growing number of captive insurance industry clients, JLT Insurance Management (USA), LLC, has hired Jocelyn Lyman as its newest senior account manager. Ms. Lyman is a 10-year veteran of the captive industry and was previously senior account manager for Vermont-based Alterna, LLC.
January 22, 2018 Read More
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Alternative Market Alters Reinsurance Renewal Pricing, According to Fitch

The reinsurance underwriting cycle may finally have turned, but price rises look modest despite large catastrophe losses in 2017, suggesting that the cycle may have become flatter, according to a Fitch Ratings report. Fitch believes the growth of the alternative capital sector has altered reinsurance market dynamics.
January 19, 2018 Read More
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Vermont Judged Best Insurance Regulatory Environment in United States

Vermont was judged by R Street Institute's "2017 Insurance Regulation Report Card" to have the best insurance regulatory environment in the United States. The report card specifically references captive insurance in Vermont and Connecticut in its state-by-state developments section.
January 19, 2018 Read More
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"IVANS Index" Provides Fourth-Quarter and 2017 Year-End Results

December's "IVANS Premium Renewal Rate Index" findings show a slight uptick in premium renewal rate change average across commercial auto, businessowner's policy, general liability, and commercial property compared to third quarter. December's report also includes IVANS overall year-end 2017 results.
January 18, 2018 Read More
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Group Rental Captive Insurer Launched for Towing and Recovery Industry

The first group rental captive insurer designed exclusively for the towing and recovery industry, TowCap Premier, has been launched by National Interstate Insurance Company, a leading specialty property and casualty transportation insurer.
January 18, 2018 Read More
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NACD Publishes "2018 Governance Outlook"

The National Association of Corporate Directors (NACD) released its white paper on the "2018 Governance Outlook." While the paper is targeted at board members of publicly traded corporations, several of the monographs are germane to the governance of captive insurers as well. We'll look at some of the highlights of interest to captives.
January 17, 2018 Read More

Pinnacle's Rob Walling Again Named in Captive Insurance Power 50

For the second consecutive year, "Captive Review" has named Pinnacle Actuarial Resources, Inc., Principal and Consulting Actuary Robert J. Walling to its Power 50 list. The Power 50, compiled from the votes of more than 6,000 captive insurance professionals, recognizes key influencers in the global captive insurance industry.
January 17, 2018 Read More
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Davies Group Acquires R&Q's Captive Management Operations

Davies Group, a leading operations management, consultancy, and digital solutions provider, will acquire Randall & Quilter's (R&Q) insurance services and captive management operations. The sale follows R&Q's previously announced decision to simplify its operations to focus on core high-growth activities.
January 16, 2018 Read More

Alastair Nicoll To Lead Aon's Asia Pacific Captive Insurance Business

Alastair Nicoll recently relocated from Dublin to Singapore to lead Aon's captive and insurance management business in Asia Pacific. Mr. Nicoll's new role as regional director combines the management of Aon's captive insurers in Singapore with the development of more captive business around the region.
January 16, 2018 Read More
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