HR professionals are often leaders in workplace violence prevention initiatives. They have a special duty to advance proper prevention initiatives within their organisations, says Paul Marshall of McGowan Program Administrators, in the second of a four-part series about the impact and aftermath of an active shooter event.
Investing in the best available technology is vital for the future success of a captive. Although the best technology is not cheap, this short-term cost is likely to pay for itself relatively quickly by improving pricing, improving internal and external communication and increasing efficiency, says Sean Barnes at United Educators Insurance Company, a reciprocal risk retention group.
Quest is one of the best-known captive service companies in Bermuda and the US and has been forming and managing single parent, group, and association captives since 1979. Jeff Kenneson of Quest Captive Management talked to Captive International about Quest’s business and the trends he is seeing in the market.
The IRS is on a winning streak against 831(b) captive insurance companies, and as such could afford to take a tough line in its settlement offer to some micro captives, says Matthew Queen of Venture Capital Management.
TCOR is the industry standard model for tracking insurable costs, used by institutions across all industries to benchmark themselves against peers and historical trends, and by captives to determine reasonable insurability. It is a frustratingly limited measure of risk, so Randall Davis at Delphi Risk Management developed new models to do the job better, as he told Captive International.
Insurance tends to be viewed as a contract, but in reality the choice between one insurance policy and another is more like the one a shopper makes when considering which of two widgets to buy, and that could have profound implications for legal disputes, says Matthew Queen of Venture Captive Management.
A series of high-profile victories in court for the IRS over 831(b) captives has tarnished the reputation of these structures, but they do not deserve their shady reputation, as Jeremy Colombik of Management Services International told Captive International.
There have been a number of high profile fights between states and captives in recent years, including Johnson & Johnson v New Jersey, Stewart’s Shops v New York and Microsoft v Washington. If these cases haven’t grabbed your attention you need to wake up, says Gary Osborne, vice president at Risk Partners.
RRGs are regulated by the state in which they domicile, and are free to do business in other states, but many non-domiciliary states are operating well outside the scope of the law, says Jon Harkavy of Risk Services.
Captives are still domiciled in physical jurisdictions and regulated by real people, but for how much longer? In the future, regulation could be provided by sophisticated and fully autonomous websites, reducing costs and increasing efficiency, says Matthew Queen of Venture Captive Management.