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  • Captive Insurance Pooling Is an Option for Covering Mass Shooting Attacks Insurers have begun offering active assailant insurance coverage in the wake of a marked increase in mass shootings in the United States in recent years. In some cases, schools can seek solutions via captive insurance vehicles by pooling their liability exposure to these types of events with other schools.
  • US Workers Compensation Market Remains on Track Fitch Ratings reported the US workers compensation market is on track for a fifth consecutive year of underwriting profits in 2019 despite recent weakening in market fundamentals.
  • Bulletproofing Your Captive Insurance Company Mark Sims, vice president of business development at Captive Alternatives, LLC, says that best practices for bulletproofing a captive insurance company so that it meets the definition of an insurance company involve consideration of five criteria: risk sharing (shifting), risk distribution, premium pricing, policies, and claims.
  • Insurance and Reinsurance Solution Launched for Midsized Captives International Re (I–RE), the specialist captive insurance and reinsurance managing general agent, has established a midsized captive insurance and reinsurance solution, I–RE SA.
  • Treasury's Proposed Regulations on the PFIC Rules Insurance Exception Treasury has issued proposed regulations on the insurance exception to the passive foreign investment company rules. This article focuses on only one of the aspects of the regulations, albeit a very important one for captive insurance companies—the active conduct requirements.
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  Global Pricing-SF

Global Commercial Insurance Prices Increase 6th Consecutive Quarter

Marsh recently released its "Global Insurance Market Index," which showed that average commercial insurance prices increased 3 percent in first-quarter 2019, the largest increase since the survey began in 2012.
May 20, 2019 Read More
  Blacklist 480x377

Aruba, Barbados, and Bermuda Removed from the EU Blacklist

The Economic and Financial Affairs Council in Brussels has removed Aruba, Barbados, and Bermuda from the European Union's list of noncooperative tax jurisdictions.
May 17, 2019 Read More
  Buyout 480x377

USA Risk Group Senior Management Team Finalizes Buyout

USA Risk Group revealed that its senior management team has completed a management buyout from Spencer Capital Holdings, which will include operations from all captive jurisdictions that USA Risk Group currently operates.
May 17, 2019 Read More
  Bermuda flag-SF

AkinovA Secures Bermuda's First Insurance Regulatory Sandbox License

AkinovA (Bermuda) Ltd. has secured the first Insurance Regulatory Sandbox license from the Bermuda Monetary Authority under the jurisdiction's new legislative framework that came into effect in July 2018.
May 17, 2019 Read More
  article paper 480x377

The BMA Proposes Regulatory Regimes for New LPI Classes

The Bermuda Monetary Authority's (BMA) latest consultation paper outlines the BMA's proposed regulatory regimes for new classes of Limited Purpose Insurers (LPIs) and a new category of an intermediary (insurance market places).
May 16, 2019 Read More
  Flooded Residential Street 480x377

Federal Lawmakers Act To Extend the National Flood Insurance Program

President Donald Trump signed legislation on June 6 that extends the National Flood Insurance Program (NFIP). That follows the House of Representatives' approval of the legislation, H.R. 2157, which extends the NFIP through September 30, 2019. The Senate earlier approved the measure.
May 16, 2019 Read More
  Terrorism-SF

US P&C Insurers Should Make Considerations for TRIPRA Expiration

The Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) is set to expire at the end of 2020. According to A.M. Best, doubt exists surrounding whether TRIPRA will be extended and, if so, under what terms and conditions, particularly amid a hyperpartisan atmosphere in Congress.
May 15, 2019 Read More
  GAAP Handshake-SF

Key Accounting Issues for Cell Captives

We provide a review and analysis of the latest white paper from Johnson Lambert and Spring Consulting Group on cell captives. Our review highlights some of the key concepts from the report and offers guidance on what to look for.
May 15, 2019 Read More
  Investing Money Stocks

Lloyd's Invests in Atlanta-Based InsurTech Company

Lloyd's is set to invest in Layr, an Atlanta-based InsurTech company, following Layr's participation in a successful Lloyd's Lab trial. The investment will allow Layr to develop its cloud-based solution to provide faster access for small businesses looking to purchase liability insurance. Layr is also exploring potential distribution opportunities with several Lloyd's syndicates.
May 14, 2019 Read More
  Julie Mix McPeak

Commissioner Julie Mix McPeak Departs Tennessee DOI for Private Sector

Tennessee Department of Commerce & Insurance Commissioner Julie Mix McPeak will leave state government to pursue career opportunities in the private sector.
May 14, 2019 Read More
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