Captive International US Focus 2023 published

The US has been one of the leading players in the captives market over the past fifty years, with States such as Vermont, Utah and North Carolina taking the lead in creating the kind of regulations and conditions to make themselves attractive domiciles for captive owners.

In this edition we take a number of looks at the way that the market has evolved over the past year.

·  We look at the growing issue of artificial intelligence (AI) in insurance, as AI becomes a more and more controversial and debated topic.

·  We also talk to Sandy Bigglestone, deputy commissioner of the captive insurance division at the Vermont Department of Financial Regulation, about what the past year has been like since she was appointed in 2022.

·  Dan Towle, the head of CICA, gives his views on where the market stands as we head into the second half of 2023 and we have a series of updates on captive domiciles from all over the US, from Utah and Hawaii to Tennessee and Missouri. We also go offshore to see where Barbados stands in the market.

·  We take a look at risk retention groups, which hit the headlines earlier this year and we return again to micro-captives, after the IRS announced yet another attempt to regulate them.

·  And we also take a look at the increasingly topical subject of new niches - those areas that are starting to appear on the horizon of the world of captive insurance as possible places of opportunity, if captives can be bold enough to grasp them.