US Focus 2022 explores the most pressing issues in the US captive market today.
Captive International has launched the 2022 edition of it's US Focus publication.
The US has been one of the leading players in the captives market over the past fifty years, with States such as Vermont, Utah and North Carolina taking the lead in creating the kind of regulations and conditions to make themselves attractive domiciles for captive owners.
As the country opens back up again after the COVID-19 pandemic, States are making sure that they are still in the forefront of this battle for business, as new working trends make their presence felt. Staffing issues are very much a topic of conversation, along with how long the current hard market will last – so how can captives cope?
- We look at why talent acquisition and retention is so important for the captive industry right now, as well as why the current market remains hard.
- We also talk to David Provost, the outgoing deputy commissioner of the captive insurance division at the Vermont Department of Financial Regulation and his replacement Sandy Bigglestone, about the challenges that the domicile there has faced over the past 15 years, as well as what lies ahead of it now.
- Dan Towle, the head of CICA, gives his views on where the market stands as we head into the second half of 2022 and we have a series of updates on captive domiciles from all over the US, from Utah to Tennessee and Missouri. We also go offshore to see where Barbados stands in the market.
- As microcaptives make the IRS’s Dirty Dozen list yet again we look into just why that is, along with a dive into topics such as alternate energy, healthcare and the increasingly complex world of cyber captives, a topic that has hit the headlines this year due to an uptick in cyber attacks.
- And we also take a look at the increasingly topical subject of inflation, which made an unwelcome return to people’s conversations as supply networks restarted in the wake of the coronavirus. Social inflation is also a very real issue, as jurors become desensitised and award larger and larger sums to plaintiffs in trials, causing costs to spiral upwards and causing companies to look more and more at getting around those costs with a captive.
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