News
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Butler University, the university known for setting up the world’s first student-run captive, has said that the captive will look at expanding its coverage over the next few years, and has third party coverage in the pipeline, professor Kevin Thompson told Captive International. 13 March 2019
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Captives are commonly accepted to be cheaper than the commercial insurance market, to be the best way to stabilise premiums through hard and soft markets, and to be the best place to handle cannabis risks - but is this accurate? 12 March 2019
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There is little crossover between academia and the insurance industry, which is especially true for the lesser known captive industry, and more work should be done to make students “industry ready”. 12 March 2019
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Although there has been a slight dip in captive numbers across Europe, this is not an accurate reflection of the health of the industry, which has shown signs of growth despite contending with issues surrounding Solvency II, BEPS, direct fronting and Brexit. 12 March 2019
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Board chair of the Captive Insurance Companies Association (CICA), Joel Chansky, will be stepping down from his position as his term ends on Wednesday, March 13, 2019. 12 March 2019
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The Captive Insurance Companies Association (CICA) has presented its distinguished service award to Gary Bowers, tax partner at Johnson Lambert and Co, and its outstanding captive award to American Contractors Insurance Group (ACIG). 12 March 2019
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White Rock, the Aon-owned company that launched the first protected cell company in Guernsey in 1997, has expanded the concept to a seventh domicile in the District of Columbia, US. 11 March 2019
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While captives that make the 831(b) election have come under increased scrutiny over the past few years, there are other small captive solutions that are gaining traction, which is especially the case in Puerto Rico, according to David Kirkup, chief operating officer and chief financial officer of Captive Alternatives. 11 March 2019
Law & regulation
The Government of Barbados’ overhaul of its insurance law is expected to give the domicile a competitive advantage and enhance its international reputation, according to Kenneth Campbell, director, investment promotion, at Invest Barbados. 11 March 2019
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Since assigning its first insurance financial strength rating in October 2016, Kroll Bond Rating Agency (KBRA) now has almost 60 published and unpublished insurance financial strength ratings and aims to double that figure by the end of the year. 11 March 2019
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