News
Analysis
AM Best has downgraded the Financial Strength Rating of American Transportation Group Insurance Risk Retention Group (ATGI) to C++ (marginal) from B (fair), before withdrawing its rating altogether. 6 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
Services
COVID-19 is causing severe disruption in the US economy, particularly in the healthcare industry, where treatment centres are struggling to cope. Once the crisis starts to subside, captives could find themselves with a more significant role, says Jason Nordby of M3 Insurance. 3 April 2020
USA analysis
The Connecticut Captive Insurance Association (CCIA) has postponed its 2020 Collaborative captive conference, citing the health and safety of its members amid concerns around COVID-19. 2 April 2020
USA analysis
A wholly owned US subsidiary of Enstar Group has entered into a novation agreement with affiliates of Lyft, and certain underwriting companies of Zurich North America. 2 April 2020
EMEA analysis
Thomas Miller has appointed Ross Dennett as the chairman of its Isle of Man business. 1 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
EMEA analysis
The French Prudential Supervision and Resolution Authority has approved a reinsurance captive in France, for the first time in nearly 20 years. 30 March 2020
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