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Current Features

  • July 27, 2010: "An Open Letter to Sen. Carl Levin" from Anthony Travers, O.B.E., Chairman, Cayman Finance.

    "...Your Support for the group callling itself 'Business and Investors Against Tax Haven Abuse' necessitates this response. Your endorsement of that organization's recent report well might lend credibility to statements that are in error and recommendations that are misguided..." [Download full letter]

    Mancini's Musings: This is a concise, brilliant explanation of free-market principles surrounding taxation of multi-national corporations that should be required reading for every American -- especially the elites in government, media, and education. This was reported in Politico, but I have not seen it reported in any other media outlet. Your comments would be most welcome. Should you choose to comment, please be sure to let me know if you would like your opinion published. E-mail Chris Mancini.


  • Posted June 3, 2010: FEDERAL LIABILITY RISK RETENTION ACT OF 1986, 15 USC 3901-3906 (1981, as amended 1986), downloadable in pdf.

  • May 27, 2010: NJCIA works to keep New Jersey a “risk retention group friendly” state.

    Article begins: "On Thursday May 27th, a bill will be discussed by the New Jersey Senate Commerce Committee that can close down the New Jersey operations of several risk retention groups (RRGs). Senate Bill 1823 (Makes sundry changes to taxicab laws) was amended to require that a taxicab owner have an insurance policy of an admitted insurance company which is a member of the New Jersey Property-Liability Insurance Guaranty Association. That single sentence could make RRGs currently insuring taxis in New Jersey, no longer permissible to do so since it is generally accepted that RRGs are prevented from becoming Guaranty Association members by the federal RRG legislation. One risk retention group will likely close its New Jersey office and reevaluate the jobs of six employees. However, the greatest pain may come to the hundreds of taxi cab owners that may need to shop for new insurance and pay higher premiums..." [To full article on the NJCIA website]

  • May 4, 2010: Is it "Time to Take it on Trust" in collateralizing your captive? How does a Reg 114 Trust compare with other collateralization options such as cash or Letters of Credit (LOCs) in an economy where tight liquidity has become a given? How do Reg 115 Trusts work? How do they compare with other options by way of formative and ongoing costs? Are they all the same? Who can benefit from them?

    Doug Lavalle and Tom Mackay, both senior VP's for Wilmington Trust, have supplied practical answers to these questions in this excellent article, published in the April edition of Captive Review. Captive.com wishes to thank our friends at Captive Review for their kind permission to share this article with our readers. Download "Time to Take it on Trust" now.

  • March 17, 2010: Key Themes from the 2009 Cayman Captive forum -- Captive Insurance in the Cayman Islands: Stability in a world of uncertainty. In continued support of the successful Cayman Captive Forum, this successful event's main sponsor, -- KPMG -- has kindly provided a highlights brochure covering the key themes of the 2009 conference. The publication provides an overview of key topics for all to read and for those who attended, a useful reminder of the discussions and educational topics that took place. Should anyone require a hardcopy of the brochure, please e-mail Dara Keogh at KPMG darakeogh@kpmg.ky. Source: Insurance Managers Association of Cayman (IMAC)

  • February 23, 2010: Towers Watson has just posted a new article and PodCast on its website that you might want to download. Coming Together: Capital and Risk Management: "Successful capital management requires an integrated picture of a firm’s capital needs and funding possibilities, and an effective process for managing capital allocation to individual business units.

    "This article, part of our ongoing series on embedding ERM in insurance, analyzes the capital management function’s roles and responsibilities..."

  • January 7, 2010: Chris Kramer, hailing from Atlas Insurance Management, recently published an interesting article entitled, "Captives Fuel Growth and Income for Agency Owners," in the Insurance Journal. Captive.com wishes to thank Insurance Journal for their kind permission to link to Chris's article. Excerpt follows:

    "In times like these, where the insurance industry is now in its fifth year of a soft market, the use of an agency captive insurance company can spark both revenue and profits to improve an agency’s overall financial performance. The agency captive may also provide the owners a better return than a profit sharing agreement..." [To full article]

 

Index of Member-Developed Articles
Sponsors and Links to More Indexes
Links to Individual Articles
More Articles from Friends of Captive.com Index of articles by friends of captive.com who are not sponsoring members. New articles posted frequently!
A.M. Best

August 3, 2009: Best's Special Report: U.S. Captive Insurance - 2008 Market Review. Also see brief highlights of this report.

July 29, 2009, Best's Special Report: European Captives -- A Growth Market During a Challenging Time?

To A.M. Best Menu page for more links.

Active Captive Management Library of captive articles relevant to several domiciles. Look for information on tax and legal issues impacting captives too!
Atlas Insurance Management

January 7, 2010: Chris Kramer, hailing from Atlas Insurance Management, recently published an interesting article entitled, "Captives Fuel Growth and Income for Agency Owners," in the Insurance Journal. Captive.com wishes to thank Insurance Journal for their kind permission to link to Chris's article. Excerpt follows:

"In times like these, where the insurance industry is now in its fifth year of a soft market, the use of an agency captive insurance company can spark both revenue and profits to improve an agency’s overall financial performance. The agency captive may also provide the owners a better return than a profit sharing agreement..." [To full article]

More Atlas articles are available from their website Article Index page.

Caledonian Insurance Services Limited

11/18/2009: Is it possible for a captive to actually increase profits for its parent company? Caledonian Insurance Services Limited (CISL)'s Dugald Macleod explores this question using a case study approach in a helpful article entitled A Captive Can Increase Profits.

10/16/2009: ERM and Captives. In this article, Conor Jennings explains exactly what Enterprise Risk Management (ERM) is, then goes on to clarify its importance to captives in dealing with today's financial challenges.

September 13, 2007: Chance and Probability as Applied to Captive Insurance by Dugald Macleod. The decision to set up an insurance captive is an entrepreneurial one. It involves replacing a contract whose terms are known, with a business proposition, whose outcome is unknown. It involves the assumption of risk. It involves taking a view of the future. This article explores this concept boldly and thoroughly.

1/5/2007: Conor Jennings of Caledonian Insurance Services enlists the help of an imaginary risk manager aptly named Ivor Cunningplan and his CEO boss, Neil B. Formy, to show the connection between good risk management and captive insurance in this fine article entitled Risk Management And Captives.

11/10/04: A terrific new article written by Conor Jennings entitled, "Virgin Captives" is awaiting you. This article features a solid introduction to captive basics, along with an explanation of numerous advantages offered to captives who domicile in the British Virgin Islands.

1/20/2004: We continue to receive ongoing questions about rental captive structures. Here's a great article by Conor Jennings that will answer many of your questions. The Benefits of Segregated Portfolio Insurance

To Caledonian Data Sheet for most up to date article index.

Captive.com

FEDERAL LIABILITY RISK RETENTION ACT OF 1986, 15 USC 3901-3906 (1981, as amended 1986), downloadable in pdf.

Ask the Expert Q&A: A compilation of some of the most compelling "general interest" questions that have recently come before our Ask the Expert resources. Answers are supplied in pop-up windows.

July 27, 2009: What's Next for Bill White? Captive.com recently learned that William P. White, Administrator of Delaware's Captive Program, will be leaving this role in Delaware when his contract expires on July 31, 2009. Captive.com's Chris Mancini asked Bill a few questions, which we are pleased to share in this brief article. Bill's replies have been left verbatim and unedited, to give him the opportunity to share his perspective on the transition in his own words. We will do the same when the Insurance Department sends its press release to us early this week. At the very end of the article, Chris shares a few thoughts of her own in a brief "Mancini's Musings on the evolution of Delaware as a captive domicile" editor's note.

From the 2008 World Captive Forum, November 17-19: Western US Captive Domicile Round-up -- 2008 and Beyond. This article was in the packet of materials that attendees received at this premier event.

From the 2008 VCIA Conference:

More Mancini's Musings:

  • Mancini’s Musings #6: The Story of the World Trade Center Captive. Unlike most of my light-hearted articles, this one is not a bit funny. The article summarizes a March 13, 2006 CICA Conference session by the same title, expertly delivered by Christine LaSala. The article is laced with a few of my own editorial opinions on this important story, which continues to unfold, along with profound implications for our industry. Links to testimony at recent Senate hearings, as well as new proposed legislation, are provided in the article.

On the lighter side...each article more ridiculous than the one preceding it. I'm sorry...I just can't help myself.

Book Reviews by captive.com's President, John Salisbury:

CFO.com

Hit by labor woes and infrequent flying, Delta uses its captive insurance company to smooth long-term earnings risks.

Our thanks to our friends at CFO.com for their timely article, Delta's Strategy for Reducing Turbulence.

Dewey LeBoeuf
ECS Risk Control, Inc. "How Risk Control Saves Money for Alternative Market Programs -- General Liability Residential Contractors," by Larry Bailey, CSP (Posted 9/8/2003)

Hawaii Captive Insurance Council (HCIC)

New articles posted frequently...you won't want to miss this page!
HSBC Insurance Management
Hughro Ltd.

"Hugh's Views" Editorial Newsletters by Hugh Rosenbaum...always controversial, always respected, and NEVER boring!

Insurance Managers Association of Cayman (IMAC) March 17, 2010: Key Themes from the 2009 Cayman Captive forum -- Captive Insurance in the Cayman Islands: Stability in a world of uncertainty. In continued support of the successful Cayman Captive Forum, this successful event's main sponsor, -- KPMG -- has kindly provided a highlights brochure covering the key themes of the 2009 conference. The publication provides an overview of key topics for all to read and for those who attended, a useful reminder of the discussions and educational topics that took place. Should anyone require a hardcopy of the brochure, please e-mail Dara Keogh at KPMG darakeogh@kpmg.ky.
Innovative Captive Strategies (ICS) "Contractors Take Control: Construction Firms Are Managing Insurance Risks and Reducing Costs With Their Own Captive Insurance Companies," by Dan Keough, Innovative Captive Strategies, an affiliate of Holmes Murphy & Associates.
Insurance Asset Management

April 14, 2010: Alex McCallum from Insurance Asset Manager has shared the following article with captive.com visitors: A Standout Year In 2009 For Insurance Asset Managers.

"Initial results of Insurance Asset Manager’s (IAM) first survey of 2010 show that US managers of outsourced insurance company assets enjoyed an excellent year in 2009 -- and BlackRock outpaced long-time leader Deutsche Insurance Asset Management to take first place in IAM's rankings..." [Full story]

IRMI March 5, 2009: 3 articles all reprinted with the kind permission of IRMI. Visit the IRMI page in the Captive.com store to purchase CICR, Risk Financing, and other fine IRMI publications from the Captive.com secure server:
Johnson Lambert & Company
Kerr, Russell & Weber, PLC

Full Menu of Monte's articles

View the CICR Index for 1988 - December 2009 in searchable PDF to locate the feature article entitled "Protecting the Captive's Directors And Officers" written by Monte Jahnke.

Corporate Governance: Navigating a New Channel: A presentation by Monte Jahnke (Kerr, Russell & Weber), Steve Scammel (Towers-Perrin/CICR), Debbie Lambert (Johnson Lambert), and Alan Fleming (Guernsey Regulator)

PowerPoint Presentation by Monte Jahnke: Captive Governance in a Post-Enron World, from the 6th Annual International Captives Congress, June 2002

Now available: PDF version of Monte's Captive Governance article based on this presentation, reprinted with permission from the November 2002 issue of Captive Insurance Company Reports (CICR).

Liberty Mutual Commercial Affinity

The list of articles available from the Liberty Mutual Commercial Affinity continues to grow. This page is enhanced frequently, so visit often! Following are articles and presentations that we house at captive.com:

Maple Technologies

Visit the Maple Technologies Data Sheet for full menu of articles and press releases

  • 10/13/09: From the October 2009 CIC-DC Fall Quarterly: Agility: A prescription for the long term? Is your captive or RRG positioned to respond nimbly to ongoing economic challenges and regulatory changes that will directly or indirectly impact your business? In this article, Nick Teetelli from Maple Technologies takes a detailed look at research telling us who is competitively disadvantaged by a lack of agility to detect, anticipate and respond to fundamental shifts in their markets.
  • April 2009 -- all articles reprinted with kind permission of each publisher. Download pdf versions from each link below.

    • Bermuda Report: SaaS Appeal. by Nick Teetelli. In this report, Nick explains how SaaS (Software as a Service) can offer the captive industry many benefits. Copyright© Captive Review. Reprinted with permission.
    • SaaS delivers for alternative risk vehicles. This article, reprinted with permission from US Captive Magazine, Nick specifies exactly why captive owners need to work with a software provider that understands the complexities of alternative risk management.
    • From the March 2009 issue of Strategic Risk Magazine: Captives demand tailored technology. In this article, Sue Copeman interviews Nick, probing him for the specific requirements the captive industry needs from technology service providers.
    • Finally, another article from Captive Review, download A Cornerstone Consideration. In this article, Nick questions whether technology is a cornerstone consideration for a new captive start-up.

     

  • November 2008 -- both articles copyright© Captive Review. Reprinted with permission:

    • Technology to Assist Captive Managers. In this article, Nick Teetelli of Maple Technologies tells Captive Review how Maple’s Aspire Information System can offer a flexible end-to-end system that will meet the business needs of captive managers in these increasingly regulatory times.
    • Technologising Captives. The emergent compliance era highlights the need for the captive industry to embrace technology. Nick explains exactly why technology is so relevant to our industry.
McDermott, Will & Emery

July 2005: Recently, the IRS analyzed 4 hypothetical captive arrangements and concluded that 3 of the 4 lacked risk distribution, a hallmark of “insurance” status. The ruling that clarified this issue was Rev Rul 2005-40.

We asked Tom Jones of McDermott, Will & Emery -- one of captive.com's favorite taxation experts -- to help us explain the impact of this ruling. You can now download Tom's outstanding PowerPoint presentation for his clear, concise insight. For future reference, the link to this presentation will be available from the Learning Center.

Timely article from Tom Jones, along with full IRS pronouncements: New IRS Rulings Clarify Captive Taxation. Captive.com wishes to thank CICA and Tom Jones for sharing this outstanding information.

INDEPENDENTLY PROCURED INSURANCE--TODD SHIPYARDS SAILS ON (April 19, 2002)

Summary of IRS Revenue Ruling 2001-31 and its implications for future captive structures.

Milliman
New Zealand Captive Insurance Association The New Zealand Captive Insurance Association regularly posts new stories to its website, so be sure to visit regularly.
Physicians' Reciprocal Insurance Company

10/7/1009 from Captive Review's Healthcare Guide 2009: Approach with caution. Jeanne Braun of Physicians’ Reciprocal Insurers believes doctor groups and hospitals can benefit from a feasibility study before deciding to set up a captive. Copyright© Captive Review. Reprinted with permission.

March 5, 2008: 25 Years of Stability in Medical Malpractice. Physicians Reciprocal Exchange stresses risk control for doctors & hospitals; adds captive by Michael J. Moody MBA, ARM, and lots of input from Jeanne Braun, Executive Vice President, Hospitals and Special Programs. This is a great success story that you won't want to miss! Copyright © The Rough Notes Company, Inc. Reprinted with permission.

An Extremely Exclusive Practice: With the benefits of Medical Malpractice Captives becoming ever clearer, Physicians' Reciprocal Insurers' (PRI) Jeanne Braun explains the process involved in setting up an offshore rent-a-captive as well as the advantages of concentrating on just one area of risk. (Posted June 2002)

Risk Services, LLC
Self-Insurance Institute of America (SIIA) July 12, 2009: SIIA Continues to Expand Into ART Marketplace: Captive Industry Professionals Tell Why. By Tom Mather
SPARTA Insurance July 18, 2008: Give Diligence Its Due: Aspirat Primo Fortuna by By Neil Putman, CPA, CPCU, AIAF, Senior Vice President, Customer Operations, SPARTA Insurance Company. This white paper summarizes the importance of the relationship between the insurance program manager and the insurance carrier. Putman discusses how due diligence is the first effort in establishing the operational relationship between carrier and program administrator. He also describes the "enterprise" in risk assessment, and concludes with the valuable payback that results from viewing due diligence as a process never to be ignored.
Spring Consulting Group 10 May 2005: Captives: Why or Why Not? Many articles extol the benefits of captive formation, but few express any cautionary statements that should be considered. This white paper exposes both sides of the coin -- you'll like it!
Strategic Risk Solutions (SRS) November 20.2009: Using Group Captives for Health Insurance by Jeff Fitzgerald. While the P/C market continues to create innovative single parent and group captive programs, the use of captives to insure accident and health risks has been limited. There have been less than 20 single parent health insurance programs established in the past 10 years. The cost of health insurance rises every year while the P/C market remains soft. Mid-size employers (more than 50 employees but less than 1,000) are most affected by health insurance increases and often unaware of alternatives. There is increasing interest from midsize employers to proactively address their health insurance costs. Could a captive be the answer? [Download full article]
The Taft Companies

Articles - February 2007. Visit the Taft Companies Data Sheet for the latest articles posted that might not have made it to this page yet!

 

Towers Watson

Towers Watson has just posted a new article and PodCast on its website that you might want to download. Coming Together: Capital and Risk Management: "Successful capital management requires an integrated picture of a firm’s capital needs and funding possibilities, and an effective process for managing capital allocation to individual business units.

"This article, part of our ongoing series on embedding ERM in insurance, analyzes the capital management function’s roles and responsibilities..."

USA Risk Group
Wilmington Trust Captive Management Services

May 4, 2010: Is it "Time to Take it on Trust" in collateralizing your captive? How does a Reg 114 Trust compare with other collateralization options such as cash or Letters of Credit (LOCs) in an economy where tight liquidity has become a given? How do Reg 115 Trusts work? How do they compare with other options by way of formative and ongoing costs? Are they all the same? Who can benefit from them?

Doug Lavalle and Tom Mackay, both senior VP's for Wilmington Trust, have supplied practical answers to these questions in this excellent article, published in the April edition of Captive Review. Captive.com wishes to thank our friends at Captive Review for their kind permission to share this article with our readers. Download "Time to Take it on Trust" now.

April 15, 2008: "Captive Insurance Companies - What to Consider When Establishing and Operating Captives" by Patrick Theriault [Editor's Note: This is an outstanding "Captives 101" white paper that we know you will appreciate, updated to reflect recent changes in the industry.]

August 15, 2006: "Medical Malpractice Insurance Crisis - Alternative Risk Transfer Solutions" by John O'Brien, formerly of Wilmington Trust. [Editor's Note: A primer on ART solutions that anybody in the medical field needs to read.]

Captives and Letters of Credit -- A Happy or Necessary Union? The majority of captive programs require a letter of credit at some point or another. This fine article by Patrick Theriault of Wilmington Trust Captive Services will give you the background you will need to be conversant on this important subject.

 

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captive and ART resources