News
Executive Appointments
It has been a turbulent start to 2020, with the world battling one of the most significant pandemics seen in a century and financial markets in turmoil. People have rarely faced so much uncertainty, risk and insecurity, but companies with employee benefits captives have one thing less to worry about, says Willis Towers Watson’s Paul McNiff. 10 June 2020
article
Specialist insurer Beazley has reported a 25 percent spike in ransomware attacks in Q1 2020 versus Q4 2019, based on incidents reported to its in-house breach response team, Beazley Breach Response Services (BBRS). 10 June 2020
Actuarial & underwriting
Aon has expanded the scope of CyQu Enterprise, its cyber risk assessment methodology, to account for the increased time people are working remotely due to COVID-19. 10 June 2020
Executive Appointments
Captive owners spending more on analytics to drive down costs and improve safety culture: CICA panel
Captive owners are increasing their use of analytics, and spending more time understanding their data, as they look for ways to mitigate and minimise factors that contribute to losses in the workplace, according to Gordon Padera, executive vice president at Gallagher Bassett Services. 9 June 2020
Actuarial & underwriting
The availability of cheap insurance from commercial providers has prevented airlines from leaning too heavily on their captives. However, rates have been increasing, and with the outlook for the global economy looking grim, airlines are looking for creative ways to cut costs and improve risk management. Captives can help them with that, as Captive International reports. 9 June 2020
Actuarial & underwriting
Machine Cover, a technology company that creates parametric products for the insurance industry, is developing what it believes to be the world’s first pandemic insurance product based on parametric triggers. 8 June 2020
Actuarial & underwriting
“COVID-19 is as good an illustration as you could come up with to show that companies face risks out there that will not be covered by standard coverages,” according to Barbara Ingraham, managing director of excess and surplus at Verisk. 8 June 2020
Asia-Pacific analysis
Hong Kong’s new insurance regime could make the territory a hotspot for captives for Chinese companies, and any companies involved in infrastructure projects related to China’s Belt and Road Initiative. 8 June 2020
EMEA analysis
There was continued interest in captive insurance in Guernsey throughout its period of lockdown, according to speakers at the Guernsey Captive Briefing Webinar on June 3. 5 June 2020
Actuarial & underwriting
ICDC, a wholly owned subsidiary of Randall & Quilter Investment Holdings based in Vermont, has entered into a stock purchase agreement to acquire NationsBuilders Insurance Company (NBIC), a Washington DC-domiciled captive, from NationsBuilders Insurance Services (NBIS). 5 June 2020
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