Prymus Insurance has developed a liability insurance product specifically for police officers that, it claims, can raise policing standards by rewarding good behaviour with lower premiums, while pricing out those who are repeatedly fined for poor behaviour. Captive International reports.
There is a considerable amount of confusion about loss development factors and how they work. Enoch Starnes and Michelle Bradley of SIGMA Actuarial Consulting demystify loss development and explain why this knowledge is crucial for employees and board members of captives.
The most interesting, and potentially threatening, changes to the investment market outlook for insurance companies have to do with asset class behaviour. This will have important implications for captive insurance strategic asset allocation, says Carl Terzer of CapVisor Associates.
To state the obvious, 2020 has been like no other year. However, the captive insurance world has not only survived, it has thrived under a myriad of strange circumstances, says Gary Osborne of Risk Partners.
Google parent Alphabet’s recent power outage is a perfect example of how parametric insurance products could help companies insure risks related to their intangible assets, says Marcus Schmalbach of Ryskex.
A feasibility study is an opportunity for a comprehensive, qualitative and quantitative assessment of a client’s needs, and an investigation into whether a captive is the best way of serving those needs, says Bruce Whitmore of Willis Towers Watson.
Captive insurance companies have long provided their parents with a means to effectively underwrite a host of property and casualty risks, and have demonstrated their value in protecting financial and human capital during times of uncertainty, says Lorraine Stack of Marsh Captive Solutions.
In the first in a new series of video interviews with key individuals in the captive insurance industry, Captive International spoke to James Larkin, head of business development for captive insurance at Barclays.
Mexico’s use of captives is increasing despite the lack of specific captive insurance legislation, and new laws may be not far off, say Thomas Morante and Yani Contreras of Carlton Fields.
Businesses are seeing costs escalate, not least in the form of rising medical costs. Using a captive as a centralised risk management tool for employee benefits can help reduce these costs by enabling a comprehensive approach to global risk financing, say Aon’s Aidan Kelly and Vaibhavi Patel.