Delegated underwriting authority enterprises that are willing to eat their own cooking by taking risk in a captive are likely to perform better over time, according to Greg Lang of the Reinsurance and Insurance Network.
Richard Colombik and Jeremy Colombik, of Richard M. Colombik & Associates and MSI, respectively, examine the verdict of the Caylor Land and Development v Commissioner case and explain why the court ruled as it did.
Captive International caught up with Belinda Fortman, director of the captive insurance section at the Tennessee Department of Commerce and Insurance, to ask what is special about Tennessee, which has referred to its captive offering as “the gold standard of the south”.
When starting a captive insurance company in a foreign jurisdiction such as the Cayman Islands or Bermuda, many prospective captive owners may be excited about the potential tax benefits. However, these tax benefits should never be a primary reason to form a captive, says Daniel Greaves of Grant Thornton.
The hardening of the market happened more quickly in the US than it did in Europe, says Aon’s Vince Barrett. Now, with the impact being felt very keenly by European businesses, Europe can expect to see a significant increase in its captives population. Captive International reports.
Oppenheimer’s Jack Meskunas examines the history of Bear and Bull markets in the US and explains why, over the long term, it has historically paid to be bullish as an investor.
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.