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Firms mull insuring reputational risk using captives as cyber bolt on
While a growing number of companies are using their captives to transfer cyber risk, some of the most innovative are also exploring the possibility of insuring reputational risk, according to Jason Flaxbeard, executive managing director, captive management and consulting, Beecher Carlson.
First captive to manage cryptocurrency risk formed on Bermuda
The first captive to manage risk associated with crypto currencies has been formed on Bermuda. The vehicle has been formed by a large financial institution to take on the risk of digital assets that it stores on behalf of third parties being stolen.
Vermont becomes latest domicile to introduce regulatory sandbox law
This week Vermont passed legislation that creates a regulatory sandbox for the development of a new generation of innovative insurance products, services and technologies.
Captives at mature stages can act like commercial insurers
The key stages of a captive was the focus of a break-out discussion during the Bermuda Captive Conference with the audience told that a mature captive could almost act like a commercial insurer. Parent companies can generate profits from additional premium by underwriting third-party risks in their more mature captives.
Bermuda was one of two domiciles to respond to Butler University captive
Bermuda was one of only two jurisdictions to respond to inquiries from students to set up their own captive, the Bermuda Captive Conference heard yesterday.
Bermuda captives see increased utility as commercial market hardens
With the hardening of the commercial insurance market for many lines of business, captives are being used more for either increasing retentions or new lines that were traditionally placed in the commercial market when it was softer.
Roundstone group captive clients receive healthy rebate
Roundstone, a US provider of self-funded group captive health insurance, recently distributed over $5m to US business owners currently enrolled in one of its group medical captives.
How captives create happy and loyal employees
Captives can help employers attract and retain staff in an increasingly competitive market for talent, according to a Maxis Global Benefits Network report.
Four added to Bermuda’s Captive Hall of Fame
Fairtide Insurance, Iboba Insurance, Pitts Bay Insurance Company and Trimark Insurance have been admitted to Bermuda's Captive Hall of Fame.
22% of Marsh captives write some form of third-party coverage
In 2018, 22 percent of captives managed by Marsh were writing some form of third party coverage, with a value of $18.7 billion in premium.
