Towing companies in the US have traditionally found the process of procuring insurance a frustrating experience. The coverage on offer rarely suited their specific needs, and it was expensive. The solution was to create TowCap Premier, the towing industry’s first group captive. Solomon Teague reports.
Governments have traditionally been deeply suspicious of marijuana. But with US political leaders finding $1.8 billion and (no pun intended) growing in tax revenues, attitudes are changing. Global governments looking to capitalise on this emerging tax base will bring forward legislation to ensure they capture a share of the cannabis goldmine, says Jeana Nordstrom of Capital Security.
In a transitioning commercial insurance market, now is the time to assess whether your captive is being optimally utilised or whether changes should be made. If you don’t have a captive, now might be the right time to establish one, says Rob Geraghty of Marsh Captive Solutions.
Cell captives come with many different names, depending on the domicile. But whether they be segregated cell companies, protected cell companies, portfolio insurance companies or rent-a-captives, a growing number of prospective captive owners are choosing these vehicles for the flexibility they offer, say Lawrence Cook and Chris Mandel of Sedgwick.
Nearly 100 years ago, the first single parent captive insurance companies were formed onshore in the UK. There has been tremendous evolution in the captives industry, but there has not been as much progress with the captive investment portfolio, says Callan’s Sara Hakim.
In an industry viewed as conservative or slow to change, some insurers might perceive insurtech as a fad, or worse, too risky. For the captive insurance industry, however, the upsides of an insurtech partnership are simply too good to dismiss, as Julie Bordo of PCH Mutual Insurance relates.
Welcome to the results of the inaugural Captive International Cayman Awards. In the following pages we reveal the results of a comprehensive survey conducted over many months designed to identify the most influential and highly regarded firms and individuals operating in the market.
Bermuda has long been the place most closely associated with reinsurance. In this business, Cayman has traditionally been an afterthought, but that is changing, as a growing number of reinsurers move to the Island, or launch their operations there.
This year has been excellent for group captives, with some of the best-known providers of group captive management in Cayman recording impressive growth.
With its thriving insurance industry, a host of technology companies, an open-minded regulator and a spirit of innovation, Cayman looks an obvious candidate to be ground zero for blockchain’s assault on the insurance industry.