31 July 2023news

Ocorian highlights talent retention

Ocorian has published a new online article that highlights the vital importance of talent retention in the insurance and captive insurance industry.

Entitled ‘Mitigating talent risks: how the insurance & captive market can help’ the article was written by Sherman Taylor, head of capital markets in Bermuda. In it he explores how the insurance and captive market can help businesses mitigate risks to their talent.

Taylor writes that: “In short, any business wants to attract and retain the best people. Talent risks exist in almost every organisation that relies on skilled and knowledgeable workers. These risks are not new; however, they are attracting more attention of late; not least as a result of recent shifts in workforce trends, with increased employee turnover leading to skills gaps across many industries. The more reliant an organisation is on its people resources, the more exposure that organisation will have to talent risk.”

Taylor also points out that even the best talent management strategies are not guaranteed to succeed, and organisations may find it useful to finance their less controllable talent risks through one or more insurance options. These include making use of a captive to self-insure some or all the risks and accessing the reinsurance market for coverage.

For more information contact Ocorian.

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