More companies across Asia are open to the idea of using captives, according to officials from the Labuan Financial Services Association and Swiss Re Corporate Solutions.
Randall and Quilter Investment Holdings (R&Q) has issued a loss portfolio transfer reinsurance covering workers’ compensation, product, auto, and general liability risks.
Sompo Global Risk Solutions (GRS) has formed a new team offering insurance solutions to smaller businesses in the US and Mexico, including its industry vertical and Asian interest accounts.
Vermont's plan to experiment with distributed ledger technology in the regulation of its captives industry should be great news for captives – as well as tax collectors, James Swanke, director of risk consulting at Willis Towers Watson, told an audience at the VCIA conference.
“Risk retention groups (RRGs) have had enough” of inconsistent treatment from states where they are not domiciled, according to Sandra Bigglestone, director of captive insurance at the State of Vermont department for financial regulation.
No company is too small to worry about cyber risk. That was the message from Timothy Padovese, CEO of the Ophthalmic Mutual Insurance Company (OMIC), an RRG formed in 1987, speaking at the VCIA conference.
Attendees at the VCIA conference expressed confidence in their innovative prowess, with 31 percent of those asked how successful their captives have been innovating saying they had achieved measurable success.
Captives that generate profits during the oncoming hard market might tempt commercial insurance carriers back into the market, suggested Sandra Bigglestone, director of captive insurance at the State of Vermont department for financial regulation.
Employment practice liability may provide clues for how cyber insurance will evolve in coming years, Edward Koral, a specialist leader at Deloitte Consulting, told an audience at the VCIA conference.
Panelists at the VCIA conference disagreed on the question of whether a captive should be regarded as cost centres or profit centres within their organisations.