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Should You Consider Writing Cyberrisk Coverage through Your Captive?

Cyberrisk is a hot topic at captive conferences, and a panel of experts at the Connecticut Captive Insurance Association’s annual Symposium on Captive Insurance provided a great overview of this expanding risk. Leon Pintsov, CEO of SignitSure Company, moderated the panel. He stated, “No statistical stability exists for the cyber risk,” making it difficult to underwrite.
September 19, 2014 Read More

Hot Topics

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Captives Land on IRS Priority Guidance Plan for 2014–2015

On August 26, 2014, the Internal Revenue Service issued its Priority Guidance Plan (PGP) for 2014–2015. The list reflects 317 projects the IRS designates as priorities for the allocation of resources during the designated period, although generally not all items are completed during the designated period.
September 25, 2014 Read More
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Reinsurance Markets, Captives, and Generative Thinking

Over the last month Captive Wire and Captive.com have highlighted a series of headlines suggesting that the fundamentals underlying the global reinsurance market are changing. John Foehl, coeditor of Captive.com and Captive Wire, suggests generative thinking is one means of considering what these changes mean for captives.
September 25, 2014 Read More
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Underwriting Note: Another State Invalidates Caps on Some Punitive Damages

Last week a 7-0 Missouri Supreme Court decision invalidated the state cap on some punitive damages. The supreme court restored the judgment of a lower court because the plaintiff had filed a claim as a common law fraud, which existed in Missouri since the first state constitution was written.
September 17, 2014 Read More
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Captive Insurer Clarification Act Would Correct Unintended Consequences of NRRA

In July 2014 Senator Patrick Leahy (D-VT) introduced Senate Bill 2796, which would clarify the definition of nonadmitted insurer under the Nonadmitted and Reinsurance Reform Act (NRRA) of 2010. The legislation is cosponsored by Senator Lindsey Graham (R-SC).
September 04, 2014 Read More

Recent News

Captive Insurance Basics Section Expanded

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The Captive Insurance Basics section of Captive.com has been updated and expanded with three informative articles on fundamentals of captives. Also, a new and more comprehensive captive glossary has been added.
October 24, 2014 Read More

Insurance and Financial Services Sectors Inextricably Linked, Forum Shows

Global Economy Dollars 
The insurance sector did not cause the 2007-2008 economic crisis, regulators agreed, but it was pointed out to participants in the recent ICMIF Regulatory Issues Leaders Forum that the global financial crisis did demonstrate how inextricably linked the insurance sector is to the financial services sector as a whole.
October 23, 2014 Read More

Risk Retention Group Numbers Decline

Downward Trend 
The number of risk retention groups has declined by more than 5 percent in 2014, according to a recent report on the Risk Retention Reporter website.
October 22, 2014 Read More

New Chief Executive of Guernsey Finance Appointed

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The Board of Guernsey Finance has appointed Dominic Wheatley chief executive of Guernsey Finance effective December 1, 2014.
October 22, 2014 Read More

CICA Webinar Looks at Base Erosion and Profit Shifting (BEPS)

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The Organization for Economic Cooperation and Development (OECD) plan for tax base erosion and profit shifting is already affecting corporations, even though implementing the recommendations will be challenging, according to the speakers at last week’s Captive Insurance Companies Association (CICA) seminar on transfer pricing.
October 21, 2014 Read More

VCIA, Other Insights Available in October 2014 Captive Insurance Company Reports

CICR 
A report on the Vermont Captive Insurance Association (VCIA) conference, insights into London & Capital's captive indices and self-procured insurance tax in Illinois, and a captive case study are available in the October 2014 issue of Captive Insurance Company Reports (CICR).
October 17, 2014 Read More

As Utah Captive Numbers Grow, 2015 Legislative Proposals and Regulations Previewed

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With the current 351 captives and 46 cells licensed, Utah will have well over 400 after license approvals expected to be completed next week, the Utah captive insurance director said during a recent webinar.
October 16, 2014 Read More

Continued Global Recovery Predicted for Fourth Quarter 2014

Global Economy 
The global economy is improving, but areas of concern are a deflation-mired Eurozone, a restructuring of the Chinese economy, and increasing geopolitical tensions, according to an overview presented by London & Capital in its market outlook for the fourth quarter of 2014.
October 15, 2014 Read More

Front-End Focus on the Back Office for Your Micro-Captive

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The benefits of a properly formed and managed micro-captive can disappear if your captive manager does not give the needed attention to the operations of the back office, Jim Landis, Unicaptive Advisors LLC, points out in an article he has prepared.
October 10, 2014 Read More