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Law & regulation
A court of appeals has affirmed a District Court ruling that the State of Nevada cannot deny a risk retention group the right to do business in the State, ending a dispute that began in 2010. 17 April 2013
Law & regulation
Energy giant, BP’s Vermont-based Saturn captive has had its A- rating affirmed by AM Best; in a move that reflects its strong capitalisation, “low risk retention and excellent group reinsurance support.” 16 April 2013
Analysis
QualCare Captive Insurance Company, a captive of QualCare Inc, has been approved as the first sponsored cell captive in the state of New Jersey. 11 April 2013
Analysis
The Cayman Islands government has announced its adoption of Model 1 of the intergovernmental agreement on FATCA, with similar agreements forthcoming with the UK. 5 April 2013
Executive Appointments
The Self-Insurance Institute of America (SIIA) announced a reorganised government relations team based in Washington, D.C. The team was adjusted to increase the organisation’s political influence, particularly with key Democrats and the media. 4 April 2013
Feasibility studies analysis
Red Re, Coca-Cola’s South Carolina-domiciled captive insurer, has received approval from the US Department of Labor to expand its use to include benefits coverage. 3 April 2013
Actuarial & underwriting
According to a market study conducted by the Captive Insurance Companies Association, the greatest challenge in owning a captive, as reported by the survey participants, is retention/growth/expanded utilisation. 25 March 2013
Executive Appointments
In a move that could signal the first stages of establishing itself as a captive insurance domicile, Maryland legislators have introduced a bill ordering a study of the captive insurance industry. 21 March 2013
Analysis
EIOPA has signed an operational Memorandum of Understanding with the World Bank agreeing to collaborate on the development of the global insurance sector. 21 March 2013
Law & regulation
Scott Kipper, insurance commissioner of Nevada, has announced an expedited approval process for single parent and 831b captive insurance companies. 14 March 2013
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