Captive International is asking its readers to vote for the best captive insurance jurisdictions, managers, lawyers, and other service providers in its inaugural US Captive Awards.
The consensus of the insurance industry is that pandemic risks are uninsurable. This is probably correct, at least where the business interruption exposure is concerned, but not for the reasons that are commonly cited, says Greg Lang of the Reinsurance and Insurance Network.
The real estate industry faces a number of significant headwinds. An increasing number of property managers are looking at tenant liability captive insurance programmes to help them navigate these turbulent times, says Bradley’s Davis Smith.
There is very little consistency between countries when it comes to insurance tax reporting, and captives managers need to stay across the nuances to avoid trouble. Daniela Dinkova of Sovos explores some of the differences.
Many businesses are suffering losses as a result of the COVID-19 pandemic that, at first glance, look likely to be covered by various different policies such as work stoppage and business interruption. But policyholders should double-check the small print, says TJ Strickland of Strickland Hardee.
As a jurisdiction The Bahamas offers unique advantages when it comes to providing a home for small, private captives: a well-regulated insurance sector and a collaborative public-private sector approach, says Tanya McCartney of the Bahamas Financial Services Board.
Captives can be used creatively to reduce the impacts of a hard market. Oliver Schofield and Damian McNamara of RISCS discuss how, and consider how captive use will expand in Asia in 2021 and beyond.
IFRS 17 is the first international accounting standard for insurers. It represents a huge change for captive insurance companies, which will need to be well prepared to comply with the new rules, says Alex Gedge of Marsh.
Sub-Saharan Africa’s economy has taken a considerable hit from COVID-19 and the resulting global shutdown, underlining the need for businesses in the region to be able to better manage their risk. Cell captives could offer an attractive solution, say Cenfri’s Matthew Dunn and Jeremy Gray, and Ernie van der Vyver of Clyde & Co.
Greg Lang of the Reinsurance and Insurance Network’s third article in a series on the future of work examines the informal economy, where business is neither taxed nor monitored by any form of government.