Risk managers entered 2020 with certain expectations about the challenges and opportunities the year would present. The onset of the COVID-19 pandemic has forced them to throw their plans out of the window, and rethink how to manage their exposures in a world that suddenly looks very different, says Milliman’s Mike Meehan.
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The insurance market increasingly resembles that of the 1980s, one of the most challenging insurance markets in history for those buying insurance, according to Jim Swanke, senior director of captive consulting at Willis Towers Watson. And this could trigger a swathe of new captives being formed.