News
Actuarial & underwriting
The world is changing rapidly, and the insurance industry is reinventing itself to offer new solutions to emerging risks through both traditional products and alternative risk transfer solutions. To ensure it remains relevant in a future dominated by intangible assets and risks that are difficult to price, the insurance industry must revolutionise its use of data and seek collaboration with insurtech companies and customers alike, says Guglielmo Maggini of the Allianz Group. 15 April 2020
Actuarial & underwriting
In a webinar on April 8 designed to educate brokers and other advisors about the advantages of captive insurance, Management Services International (MSI) warned many businesses with business interruption coverage written by commercial carriers would be exposed to significant uninsured losses. 9 April 2020
Actuarial & underwriting
The COVID-19 crisis has exposed how interdependent risk has become in the modern world, and the extent to which a single event can devastate whole economies, let alone individual businesses. The world must respond by becoming much more creative in its approach to risk management, and captives should be at the heart of those efforts, says Michael Zuckerman of Temple University’s Fox School of Business. 9 April 2020
Actuarial & underwriting
BDO has launched a new actuarial non-life offering for captive managers in Guernsey. 8 April 2020
Actuarial & underwriting
New and existing captives must provide adverse scenario modelling as part of their feasibility and application process, but most domiciles do not explicitly outline the specific adverse scenarios that should be included. Captives should engage their actuaries early and often, say Enoch Starnes and Michelle Bradley at Sigma. 7 April 2020
Actuarial & underwriting
Life science companies originally flocked to captive insurance due to a lack of meaningful product liability insurance capacity. As rates harden and terms and conditions tighten, captives can once again ride to the rescue, say Aon’s Anne Christine Fischer and Simon Huttley. 6 April 2020
Actuarial & underwriting
Healthcare providers should be using their captives to fill in the gaps that have been exposed by the COVID-19 pandemic, ensuring they have more comprehensive coverage going forward, according to Michael Maglaras, principal of Michael Maglaras & Company. 31 March 2020
Actuarial & underwriting
Captives can offer flexibility in managing the emerging risks faced by cannabis companies, offering insurance where the market is limited or has excluded certain coverages, says Alexandra Gedge of Marsh Captive Solutions. 31 March 2020
Actuarial & underwriting
Captives have a natural advantage over commercial insurance companies due to the intimacy of their relationship with their client and owner. But they should never take that relationship for granted, and should prioritise customer service and communication the way a business would with any other customer, says Anders Esbjörnsson of NCC Insurance. 30 March 2020
Actuarial & underwriting
Guy Carpenter has entered into a strategic relationship with RiskGenius to enhance its detection and qualitative analysis of silent cyber exposure across multiple lines of business. 25 March 2020
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