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US captive insurance market bullish ahead of VCIA
Boosted by increased demand, a higher profile and more innovation than ever, the US captive insurance market is in good health.
That is the overwhelming message reiterated by interviewees in the latest edition of Captive International’s US Focus publication, published on Monday August 12, just as the Vermont Captive Insurance Association’s 2024 conference opens.
The edition includes coverage of another of our cutting-edge online panels, where the great and good in the US captive insurance industry gathered to discuss the issues of the day. The panel covered a wide range of topics, but the participants agreed that the US captive insurance industry is in good health – but can still improve in a few places.
The demand for innovation is higher than it has ever been. With captives now seen as a key risk management tool and less of a niche area, that demand is set to continue.
However, there are still area that could see improvements – recruitment remains an issue for many. And the IRS’s continued litigation over 831(b) elections has also caused many to have pause for thought.
Despite this, as you will read in our 2024 US Focus, various US domiciles continue to see widespread interest and growth, with more and more captives and other similar vehicles being set up to supply companies with the coverage that so many just cannot get from the general insurance market.
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