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Michigan State University (MSU) had set up a captive insurance company following its former primary insurer, United Educators, introducing “onerous” new terms after allegedly failing to provide general liability insurance coverage for lawsuits and claims arising from the Larry Nassar sex abuse scandal. 7 March 2019
Analysis
North Carolina has introduced a new bill aimed at attracting redomestications of captive insurance companies back to the state through a "premium tax holiday". 5 March 2019
Analysis
AM Best has given US-based Nuclear Electric Insurance Limited (NEIL) a financial strength rating of A based on the insurer’s strong balance sheet, marginal operating performance, favorable business profile and enterprise risk management. 4 March 2019
Executive Appointments
Insurance broker Marsh has appointed Robert Bauer to lead its US sharing economy and mobility practice. 4 March 2019
Analysis
Ride-sharing company Lyft has outlined details of its wholly-owned captive insurance subsidiary in an SEC filing. 4 March 2019
Analysis
Rising geopolitical and geo-economic tensions are leading to increased uncertainty and risk for multinationals with direct foreign investments, which in turn provides opportunity for political and trade credit insurance, and by extension captive insurance. 28 February 2019
Analysis
Intercona Re, the captive reinsurer of transnational food and drink company Nestlé has requested to no longer participate in AM Best's rating process, and the ratings agency has subsequently withdrawn the company's ratings. 28 February 2019
Analysis
Against a backdrop of significant cybersecurity breaches, rated captives have been seriously considering writing cyber risk, explains Fred Eslami, associate director at AM Best. 28 February 2019
Analysis
Ratings agency AM Best has revised the outlook of Vermont-based risk retention group Ophthalmic Mutual Insurance Company's long-term issuer credit rating from stable to negative. 25 February 2019
Analysis
The energy sector has seen an increased use of captive insurance over the last 5 years, as it continues to be a key part of companies' risk management strategies, according to an Aon report. 25 February 2019
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