Connecticut has entered into two separate memoranda of understanding with The Hartford and Liberty Mutual Insurance to provide supplemental financial assistance to policyholders who file claims and receive awards to remediate their crumbling concrete foundations through the state’s captive insurance programme, the Connecticut Foundations Solutions Indemnity Company (CFSIC).
Zurich North America has appointed Jason Meador as head of group captives for alternative markets.
The State of Vermont licensed 25 captives in 2018, including one affiliated reinsurance company (ARC), according to statistics released by the Department of Financial Regulation.
Audit, tax and advisory services firm Johnson Lambert has appointed Allan Autry, Lane Miller and Lauren Williams as partners, based in its North Carolina office.
Risk management association RIMS has appointed Gloria Brosius, director of risk management and insurance at Pinnacle Agriculture Distributions, as president for the 2019 term.
Insurance broker and consultant Woodruff Sawyer has appointed Dan Schmidt as senior vice president of its healthcare practice.
The automotive, manufacturing and retail industry was responsible for the majority of new formations on Bermuda in 2017, according to the BMA Captive Report 2018.
Bermuda captives writing cyber risk experienced the greatest year-on-year percentage increase out of any line of business in the market in 2017, according to the BMA Captive Report 2018.
Captives that buy large amounts of reinsurance could be facing higher premiums in 2019 if a number of recent industry reports prove accurate.
The US state of Michigan has changed some of the reporting requirements that relate to captives in the state. One of the changes means that captives can now report using international financial reporting standards.