Insurance companies have received good news with the release of two revenue procedures addressing the new loss discounting rules for property and casualty companies. Matt Gravelin at Johnson Lambert explains.
As environmental, social and corporate governance (ESG) factors have become increasingly prominent in the world of investing, the number of related terms and approaches has also proliferated. The focus is typically on the wider benefits of building ESG considerations into portfolios, but there are other implications for assets, say Kate Miller and Shadrack Kwasa of London and Capital.
Run-off is a corporate risk management tool giving insurers the flexibility to respond to the changing needs of its clients. It allows insurers to carve out lines or sell portfolios or entire captives, freeing them up to create new coverages, says Carolyn Fahey of the Association of Insurance and Reinsurance Run-Off Companies.
Establishing a captive may seem like a heavy lift for educational establishments with no experience of, or interest in, running an insurance company, but the cost savings can be quite substantial, says Courtney Claflin of the University of California.
Sandvik is one of Sweden’s great multinational companies, a global engineering group with employees around the world and revenues of around $10 billion. It is also the owner of one of Sweden’s thriving captives. Sandvik’s Fredrik Finnman talked to Captive International.
Too many insureds buy too much insurance, and do not take advantage of significant savings that can be gained by better analysing loss history, says Randall Davis at Delphi Risk Management.
Too many captives are preoccupied with maintaining the status quo, rather than focusing on growth and innovation. They are missing a considerable opportunity to deliver greater value for their owners, as Andy Barile, founder of Andrew Barile Consulting, which is 20 years old next year, told Captive International.
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.
The business insurance community, including alternative risk management vehicles, is asking how it can mitigate exposures to workplace violence, or transfer them, to de-risking their risk portfolios with available commercial insurance, says Paul Marshall of McGowan Program Administrators, in the first of a four-part series about the impact and aftermath of an active shooter event.
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.