From the UAE to Saudi Arabia, interest in using captives to write a variety of risks—including property, casualty, and financial and professional lines—is increasing across the Persian Gulf, says Marsh’s Ronny Vellekoop.
Concert is a new fronting company that aims to serve captives and programmes that are being underserved by traditional players, and provide a high quality service. Captive International caught up with its CEO and one of its founders to find out more.
CLIC, a cannabis risk retention group that launched in 2020, demonstrates Nevada’s flexibility and will offer a lifeline to businesses that are being effectively shut out of the financial system. Insurance consultant Hugh Rosenbaum spoke to its founder.
Companies tend to think about their optimal risk retention levels very infrequently. Paying more regular attention to this question could reap significant rewards, and companies that have a captive have a significant advantage, say Enoch Starnes and Michelle Bradley of SIGMA Actuarial Consulting Group.
Driven by continually rising healthcare costs, smaller and mid-sized companies are increasingly looking to leverage the benefits of self-funded plans using captives, says Joseph Parrilli of Captive Resources.
A number of factors have come together to increase the role self-insurance is playing in meeting corporate risk management needs, say Bron Turner and Damion Henderson of KPMG Bermuda.
In a hardening market where reinsurers are increasingly reluctant to deploy their capital, the option of issuing coverage from a captive is more attractive than ever. Courtney Claflin, executive director of the University of California captives programme, explains.
Affordable D&O insurance has probably never been more difficult to find. One alternative to the pricey and constrained commercial market is to place D&O risk in a captive, but although there are potential advantages, risk managers should know this solution is largely untested, say Jonathan Barnes and Alex O’Shea of KPMG in Bermuda.
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.
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.