Rising insurance premiums are costing businesses millions of dollars they can ill afford as they navigate the coronavirus pandemic. Many companies are responding by trying to manage risks on their own. A surge in demand for so-called captive insurance and the increasing amount of capital being devoted to mitigating risks have caught many in the… Continue reading Captive Insurance Seen as Covid-Era Remedy to Rising Premiums
Tag: captive insurance
Captive Use Rises Amid Challenging Global Market Conditions and Pandemic: Marsh Report
More organizations are turning to the use of captives for insurance protection and financial flexibility in response to an increasingly difficult risk and insurance landscape, according to Marsh, the world’s leading insurance broker and risk advisor. In its 2020 Captive Landscape Report, published today, Marsh reports that tightening global insurance market conditions throughout 2019 led… Continue reading Captive Use Rises Amid Challenging Global Market Conditions and Pandemic: Marsh Report
Willis Towers Watson Launches a Group Captive Solution for the Middle Market
Willis Towers Watson, a leading global advisory, broking and solutions company, today announced the launch of the Homestead Insurance Company Incorporated Cell (Homestead), a group captive solution designed for upper middle market companies. Homestead will reinsure The Hartford, which will issue admitted insurance policies to members selected for this group program. The program will provide… Continue reading Willis Towers Watson Launches a Group Captive Solution for the Middle Market
Once Scrutinized, Small Captives Become a Crisis Lifeline
A type of private insurance that is used by wealthy business owners to cover unlikely risks and that has been challenged by the Internal Revenue Service is proving to be beneficial as the coronavirus pandemic shuts down local economies. The structure, known as a small captive insurance, allows business owners to self-insure against unlikely but… Continue reading Once Scrutinized, Small Captives Become a Crisis Lifeline
Risk Strategies Acquires Atlas Insurance Management
Risk Strategies, a privately held, rapidly growing national insurance brokerage and risk management firm, today announced the acquisition of Atlas Insurance Management, a worldwide leader in the formation and management of captive insurance companies, as part of its purchase of Atlas Group Limited and its affiliated entities. Terms of the deal were not made public.… Continue reading Risk Strategies Acquires Atlas Insurance Management
Willis Towers Watson Appoints Peter Carter to Lead Its Global Captive Practice
Willis Towers Watson, a leading global advisory, broking and solutions company, today announced the appointment of Peter Carter as the new leader of its Global Captive practice within its Corporate Risk and Broking (CRB) segment. In this role, Carter will lead the Global Captive practice and ensure the company’s commitment to excellence for its clients… Continue reading Willis Towers Watson Appoints Peter Carter to Lead Its Global Captive Practice
IRS Announces Global Settlement of Abusive 831(b) Captive Insurance Tax Shelters
The IRS has announced a global settlement of cases involving abusive 831(b) captive insurance schemes. According to the announcement, “The settlement requires substantial concession of the income tax benefits claimed by the taxpayer together with appropriate penalties (unless the taxpayer can demonstrate good faith, reasonable reliance).” What this means is found in Attachment 1 to… Continue reading IRS Announces Global Settlement of Abusive 831(b) Captive Insurance Tax Shelters
Caitlin Morgan Captive Management Announces New Captive Program for Kona Ice
Caitlin Morgan Captive Management is pleased to announce its participation in Great American’s newest national captive program, offered in conjunction with Cornerstone Insurance, for Kona Ice Franchise owners across the U.S. The program will focus on providing a primary admitted property and casualty policy and workers’ compensation coverage. “We are excited to start this new… Continue reading Caitlin Morgan Captive Management Announces New Captive Program for Kona Ice
Artex Announces Senior Leadership Appointments
Artex Risk Solutions is pleased to announce a number of key appointments within its International Division. Scott Cobon has been promoted to managing Director, Bermuda with responsibility for the continued success and development of this growing office, which handles a diverse range of insurance management products, including captives, insurance linked securities (ILS) and commercial structures.… Continue reading Artex Announces Senior Leadership Appointments
More Captives Profiting from Third-Party Risks in Digital Era: Marsh Report
The number of captive insurance companies writing third-party business is growing at double-digit pace as the digital era expands the ways that organizations deliver insurance solutions, according to a new report published today by Marsh, the world’s leading insurance broker and risk adviser. Technology advances, including mobile applications, are making it easier for organizations to… Continue reading More Captives Profiting from Third-Party Risks in Digital Era: Marsh Report