captive insurance News

Forged Signatures, Fake Policies? Lawsuits Raise Questions About Captive Plan

The owners of one of the oldest insurance agencies in Texas must have felt pretty surprised when they were named in a federal lawsuit brought by an AIG company, alleging the agency was part of an elaborate fraud that forged …

People Moves: MEMIC Welcomes Safety National’s Hoff; Delaware to Name New Captive Chief; Arthur Hall Names Mackarevic Partner

MEMIC Names Hoff Vice President of Loss Control and Safety The MEMIC Group has named Maryann Hoff, a 17-year insurance industry veteran, its new vice president of loss control and safety. Hoff comes to MEMIC from Safety National Casualty Corp., …

Broker NFP Forms Captive Manager in Canada

Insurance broker NFP has established a captive management firm in Canada following Alberta’s establishment of a regime for captive insurance for organizations wanting to self-insure against risk instead of buying insurance from a third party. The Captive Insurance Companies Act …

Oklahoma Insurance Department Plans Captive & IBT Conference

The Oklahoma Insurance Department (OID) announced it will host the inaugural Captive & Insurance Business Transfer (IBT) Conference in Oklahoma City on August 24-25. The conference is designed for risk managers, business owners, regulators, financial executives and insurance professionals, the …

Insurtech Coalition Forms Captive Insurer to Enhance Cyber Insurance Capacity

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 …

James River Unloads Rideshare Reserves To Uber Captive

Late last month, James River Group Holdings, Ltd. announced that two of its principal operating subsidiaries entered into a loss portfolio transfer reinsurance transaction with a wholly owned captive insurer of Uber Technologies, Inc. Under the agreement, the Uber captive, …

People Moves: Insurer Aviva Names Montague, Cummings to Exec Committee; Wood to Launch Captive Operation for Price Forbes Bermuda; Wagstaff Is CEO of LMG

This edition of International People Moves details appointments at UK insurer Aviva, broker Price Forbes Bermuda and the London Market Group. A summary of these new hires follows. Aviva Strengthens Exec Committee with Chief Risk Officer Montague and CIO Cummings …

Ashwood Named Oklahoma Captive Insurance Coordinator

The Oklahoma Insurance Department (OID) has appointed Donald Ashwood as captive coordinator, a position in which he will coordinate increased activity with captive insurers in Oklahoma. Ashwood joined the OID in 2014 and most recently served as financial operations officer. …

Top Insurance Regulatory Developments of 2020: Part 2

This is the second installment of a two-part look at the top 10 insurance regulatory developments of 2020 by attorneys at Locke Lord. The first part on Jan. 22 covered COVID-19, Insurtechs, Data Privacy, Race Equality and Pharmacy Benefit Managers. …

Vermont Governor Signs New Captive Insurance Industry Legislation

Vermont Governor Phil Scott has signed new legislation that aims to strengthen Vermont’s captive insurance laws, increase efficiencies and add flexibility to regulatory policy and procedures. “COVID-19 has dramatically changed the way we all work, live and play, however it …