Marsh, the insurance broker, risk adviser and a unit of Marsh McLennan, announced the creation of Edgware Re Ltd., a group captive insurance company for organizations seeking more control and stability in their cyber insurance programs. Based in Bermuda, Edgware …
The Missouri Captive Insurance industry increased its gross written premium by 142% in 2023, the Missouri Department of Commerce and Insurance (DCI) reported. The amount of written premiums in 2022 were $3,543,681,320 vs. $8,600,492,937 in 2023. This growth is attributed …
The National Council of Insurance Legislators last week urged the Internal Revenue Service and the Federal Trade Commission to reconsider proposed rules that the organization said encroaches on state regulation. The first of the letters from NCOIL addresses a years …
The state of Oklahoma added 11 new captive insurance companies in 2022 and has already issued three additional captive insurer licenses in 2023, according to the Oklahoma Insurance Department (OID). Oklahoma also reported four captive dissolutions in 2022. The state …
If you ask around about cannabis captives, you won’t find out much. It turns out there are few if any captives for cannabis companies. However, as the industry matures, interest in forming captives is sure to grow, and some brokers …
RPS Elevates Duffey as President of Signature Programs Risk Placement Services, a specialty insurance distributor, announced that Russell Duffey will be president of its program administration division, known as RPS Signature Programs. Duffey, based in Georgia, joined RPS in 2000 …
The U.S. captive insurance market segment continued to generate profits and surplus gains in 2021 while outperforming the commercial market, according to a new AM Best report. The Best’s Special Report, “U.S. Captive Insurance: Stepping In Amid Capacity and Pricing …
The Alabama Department of Insurance has updated a number of regulations in keeping with the National Association of Insurance Commissioners’ model regulations and recommendations from the Insurance Institute for Business and Home Safety. Some of the rules, which take effect …
The battle for the captives continues. Not long after Tennessee regulators this year bragged about the number of captive insurers domiciled in the state, the jurisdiction next door has taken steps to encourage more captives to relocate there. North Carolina …
A bill to provide a framework to captive insurers doing business in Washington became law after Gov. Jay Inslee signed the legislation on Wednesday. Second Substitute SB 5315, which was requested by Insurance Commissioner Mike Kreidler and sponsored by Sen. …
