News
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The days of attractive pricing in the professional liability and medical malpractice markets look to be over, at least for now, as the number and severity of claims climb ever higher. Sophisticated healthcare companies have responded by creating captives, giving them greater control over their cost of coverage, says Charles Kolodkin of the Cleveland Clinic. 13 December 2019
Analysis
The Tennessee Department of Commerce and Insurance (TDCI) has appointed Jennifer Stalvey to the role of director of captive insurance. She has been with TDCI since 2014 and was promoted to assistant director of the captive insurance section in 2015. 12 December 2019
Analysis
Draft legislation in South Africa that will outline the required governance and risk management arrangements for captive cell agreements, will lead to a reduction in existing cell owners, according to the law firm, Clyde & Co. 12 December 2019
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The Cayman Islands has traditionally been synonymous with healthcare captives and single parent companies. The magnitude, and rapid growth, of its group captive insurance industry tends to be overlooked, say Erin Brosnihan from KMG, Donna Dreuth from Captive Resources, and Melanie Snyman from PwC. 12 December 2019
Analysis
The Irish SME Association (ISME) is considering developing specialist group captives to tackle the rising cost, and declining availability, of insurance among its members. 12 December 2019
Analysis
Kovrr, a platform allowing re/insurers to predict, price, and manage their cyber risk, has hired Marco Lo Giudice as head of pricing models development, expanding its cyber risk modelling team. 11 December 2019
Analysis
Risk Strategies has acquired the two subsidiaries of Gowrie Holdings: Gowrie Group (Gowrie), a full-service national specialty retail insurance brokerage; and Maritime Program Group (MPG), a marine-focused managing general agent (MGA). 11 December 2019
Analysis
Dominic Wheatley, CEO of Guernsey Finance, will leave his role at the end of June 2020, after more than five years of service. 10 December 2019
Analysis
KPMG has hired Jereme Ramsay as senior manager, markets, focusing on business development and marketing in Bermuda. He will take up his post in February and will support its growth strategy, spending around 60 percent of his time working with Bermuda’s insurance industry, including its captives. 10 December 2019
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Captives are excellent tools for enabling innovation aligned to the strategic, operational and financial objectives of their parents. Their ability to formalise governance controls, together with the flexibility of a ring-fenced retention and placement strategy, make these an important enabler for a company’s wider corporate strategy, say Elizabeth Carbonaro and Adrien Collovray of Willis Towers Watson. 10 December 2019
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