State of the Captive Insurance Market Included in Marsh Report
February 17, 2015
The Marsh United States Insurance Market Report 2015 offers an overview of the current state of the captive insurance market as part of a look at major lines of insurance, key specialties, and more than 24 industries.
The report suggests the following, in regard to captives.
- Captive owners should be watching carefully as captive regulations evolve in both foreign and domestic domiciles. For example, the report states that "a number of regulatory inquiries by the Internal Revenue Service and international insurance supervisors in 2014 challenged some captive arrangements, a trend that is likely to continue as the captive market grows."
- Cyberrisk "has been gaining traction in captive arrangements, a trend that is expected to continue in 2015," the report states.
- Owners of captives that provide lines of insurance that are subject to the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA), such as property, workers compensation, and general liability, should make sure that existing policies and procedures reflect the reauthorization, the report states.
The captive market commentary section of the report includes other observations on domiciles, regulatory issues, terrorism risk, and cyberrisk.
February 17, 2015
