Symphony Grow is launching a bespoke captive insurance program for large and sophisticated cannabis businesses called “Symphony Grow Captive.” The “Symphony Grow Captive” risk financing tool provides a breadth of benefits not commonly afforded to cannabis businesses due to the …
Managing general insurance agency and cyber security company Coalition has launched a captive insurer to begin taking risk on its cyber insurance programs. The captive, domiciled in Hawaii, will provide capacity in addition to its current long-term capacity agreements from …
A cannabis risk management group through its captive is rolling property, general premises liability and product liability coverage to cannabis dispensaries and associated grow facilities. The National Cannabis Risk Management Association announced on Tuesday it is endorsing a suite of …
As the pandemic and rising insurance costs fuel greater interest by large firms in creating captive insurance organizations, the Internal Revenue Service continues to question small captive operations that it has long argued are tax avoidance vehicles and not valid …
A new analysis on how much Idaho would save by switching public employees to a self-insurance model puts the amount at $13 million for the first year of operation. The analysis made public last week by Mercer, an actuarial consultant …
Randall & Quilter Investment Holdings Ltd. has acquired Agency Program Insurance Co. (SAC) Ltd., a Bermuda-based segregated accounts captive company with 28 cells. London-based Randall & Quilter (R&Q) is paying $1.4 million in cash from existing resources to acquire APIC, …
Companies looking to form captives in Georgia can now do so with more favorable conditions since the passage of several business-friendly amendments to the Georgia captive insurance law, which became effective July 1. The effort to make the changes to …
The Cayman Islands passed new insurance regulations on January 16, which affect portfolio insurance companies (PIC). These regulations are designed to provide more risk management alternatives for insurers incorporated as segregated portfolio companies (SPCs), creating more flexibility for their operation, …
David J. Snowball has been named the new director for the Utah Insurance Department’s captive division. Snowball replaces Ross Elliott, who is set to retire at the end of the month. Snowball joined the division in July 2010. Before that …
North Carolina Insurance Commissioner Wayne Goodwin said his agency has issued four captive insurance company licenses since the state’s Captive Insurance Act went into effect in late October 2013. The new North Carolina-domiciled captive insurance companies are: West & Joyce …
