Ross Elliott, Utah’s captive director, told A.M. Best that the middle market’s demand for captives is such that the State alone could not satisfy its needs.
Commenting in our most recent issue of US Captive, Richard Smith, president of the Vermont Captive Insurance Association, said that the rise of home state domiciles is down to states pursuit of revenue.
The National Risk Retention Association’s annual conference, which will take place October 1 through October 3 in Washington, DC, will put emerging risks in the spotlight.
According to Steve Chirico, assistant vice president at A.M. Best, captives outperformed the overall commercial casualty market in 2012.
According Thomas Stokes, managing principal and US consulting practice leader at JLT Towner, a recent ruling in Texas is a cautionary tale for 831(b) structures.
A.M. Best has affirmed ratings of National Guaranty Insurance Company of Vermont, citing the management and corporate strategy of the captive’s parent company, Waste Management as a strength.
Harry Rodgers has been appointed as vice president of business development at USA Risk Group.
Law firm, Honigman has strengthened its captive insurance team with the appointment of Mark Kleinlein as partner. Kleinlein previously worked at Aon.
Captive International spoke to Tom Stokes, practice leader at JLT Towner, about how captives can be used to ease the burden of reputational risk.
The Cayman Islands captive insurance industry has reached an all-time high of $13.5 billion in total premiums and $82.8 billion in total assets as of 30 June, 2013.