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.
Chiara Nannini, director at Conyers Bermuda, outlines some of the key regulatory and tax-related developments that Bermuda-based captives need to be aware of.
KPMG in Bermuda, in association with Captive International, hosted a roundtable on developments and opportunities in the Latin American captive insurance market, bringing together a group of Bermuda-based experts in the field for a wide-ranging discussion.
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.
Delaware’s captive insurance industry is characterised by its high degree of intimacy, with constant dialogue between market participants and the regulator ensuring it is always an easy place to do business, says Joanne Shaver of the Delaware Captive Insurance Association.
Revisiting your captive strategy: maximising the efficiency of existing captives and building out their use
A regular health check is recommended for your captive to determine whether it is still fit for purpose, say Bron Turner and Jonathan Barnes of KPMG in 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.
Claims is a people business, and there are many lessons the industry can learn from this part of the business, says Dexter Morse, formerly of the International Air Transport Association.
Captives appear to be an increasingly attractive option for businesses as the insurance market hardens, offering a number of potential benefits if the money can be found to cover the initial set-up costs, say KPMG’s Mark Allitt and Jonathan Barnes.