captive insurance News

Zurich North America’s Cunningham Adds Captive Unit Responsibilities

Todd Cunningham has been named to head the Single-Parent and Sponsored-Cell Captives unit for Zurich North America. As part of its single-parent captive solutions, Zurich offers fronting, reinsurance, claims, risk-engineering and loss-analysis services for single-parent captives and a multinational reach …

California Broker Launches National Expansion into Captive Insurance Market

Sacramento, Calif.-based Owen-Dunn Insurance Services has embarked on a national expansion with the launch of ODI Group Captive to meet demand from mid-size business owners for captive insurance. In addition to creating its new group captive, the brokerage brought on …

Career Crossing: RIMS Honoree Keaton Hopes to Get Back on Risk Management Track

Juliana Keaton had no idea when she started off as a lawyer litigating commercial insurance claims that her career path would someday lead her to be the risk manager of one of the largest railroad companies in the country. But …

Vermont Captive Insurance Legislative Agenda Signed into Law

Vermont Captive Insurance Association (VCIA) President Richard Smith joined Vermont Governor Phil Scott as he signed new legislation passed in the 2017 session. This new legislation serves to strengthen Vermont’s captive legislation in a variety of areas, including adding agency …

Delaware DOI Begins National Search for New Captive Insurance Bureau Director

The Delaware Department of Insurance has announced that it has begun the search for a new Director of the Bureau of Captive Insurance and Financial Products once current director Steve Kinion’s contract expires April 1, 2017. This is because the …

R&Q Acquires U.S. Sports Captive Insurer in Runoff

London’s Randall & Quilter Investment Holdings Ltd. said it has acquired United States Sports Insurance Co., a wholly owned captive insurer of USA Swimming Inc. for $2.1 million. The company being acquired was incorporated originally under the laws of Barbados …

Vermont’s Latest Captive Bill Signed Into Law

Vermont Gov. Peter Shumlin has signed new legislation, H-538, that allows sponsored or industrial insured captives that are inactive to enter a dormant status. This status would allow such types of captives to be exempted from premium taxes but stay …

Study: Economic Impact of North Carolina Captives Increased by $12.8M in 2015

The economic impact of North Carolina’s captive insurance company program increased significantly in its second full year of operation, according to a study conducted by the North Carolina Department of Insurance. North Carolina Insurance Commissioner Wayne Goodwin reported the results …

North Carolina Touts Continued Growth of Captive Insurance Program

North Carolina’s captive insurance program continues to exceed expectations as the program begins its third full year of operation, according to North Carolina Insurance Commissioner Wayne Goodwin. The North Carolina Department of Insurance became authorized to license captive insurance companies …

2015 Cat Bond Activity Down Slightly from Record Levels in 2014: GC Securities

While property and casualty catastrophe bond primary issuance levels were “uncharacteristically low” in the fourth quarter of 2015, totals at year-end were only slightly lower than the all-time high levels reported in 2014, according to GC Securities, a division of …