A Captive Primer: What they are and how they work. Educate Evaluate Elevate
|
|
- Valerie Carson
- 6 years ago
- Views:
Transcription
1 A Captive Primer: What they are and how they work Educate Evaluate Elevate
2 Presentation Objectives History of captives & what they are How captives are used & what makes a good prospect The Captive Wrap Program Risk Management & TCOR Key Ingredients of an Insurance Company Reinsurance Various captive structures & expense with a focus on Delaware Single Captive Platform Multi-Captive Platform Start-up vs. Annual Expense Summary of the captive process
3 History of Captives Captives first used in 1700 s in Europe Three main markets: Europe (Isle of Man, Guernsey, etc.) Offshore (Bermuda, Cayman, Nevis, etc.) USA (Delaware, Vermont, Oklahoma, etc.) 30+ states currently have captive legislation Why captives now for the small-mid sized companies?
4 The Captive Wrap Program
5 Continuum of Risk Unfunded Self Insurance Guaranteed Cost/ Fully Insured Retro Plan/ Experience Rated Deductible Plan/Stop Loss or Excess Captive P&C Benefits Equivalent Term
6 What is a Captive? An insurance company you (the insured) own and control Can be domiciled on or offshore Ownership typically defined by the captive structure NOT intended to totally replace a commercial insurance program Various captive structures include: Risk Retention Groups Associations or trade groups Groups of homogenous risk Pure (Single Parent) Reinsurance of another insurance carrier (captive or commercial) Enterprise Risk Captive (most elect 831(b))
7 What Makes for a Good Captive? Clear understanding of your own risks & loss history A belief (based on facts) that the program would be profitable over time Sufficient risk to support the captive premium rule of thumb is 10:1 sales to premium captive cannot create NOL Good analytics for quality underwriting standards & pricing Expert captive design, management & efficient operations Owners committed to paying appropriate premiums for multiple years Captives are NOT short-term options
8 Key Ingredients Pay Claims Adequate Capital Legitimate Governance Must Have Transfer Credible Service Providers Legitimate Business Reason (Real Risk) What is a Captive Insurance Company? CANNOT be just for Tax Benefit!! Legitimate Asset Investment Must Have Distribution Domicile Credibility Quality Reinsurance Conservative Parental Guarantees or Loan backs
9 How is a Captive Used? Deductible reimbursement & Difference in Conditions (DIC) Raise deductibles and retentions to retain more profit and cut commercial insurance premiums DIC - covers exclusions and deductibles in your commercial policies, as well as excess verdicts above your commercial limits Risk that is too expensive in the commercial market & uninsured exposure Key Contract/Key Employee Business Litigation Product Recall Employee Related Practice Liability/D&O Supply Chain Risk Business Interruption Provide efficient and effective asset management
10 Enterprise Risk Management (ERM): Total Cost of Risk (TCOR) Overview: TCOR is the in-depth evaluation of exposure, loss, underwriting and use of capital to reduce risk. The idea of TCOR has been around since the 1940 s. Traditionally defined: Cost of insurance Cost of the losses that are retained instead of transferring out, or as part of your organization for example, risks the policy doesn't cover, or a company's deductible Cost for administration of the risk management department (whether you think you have one or not) TCOR goes beyond just insurance it s hiring and retaining the best internal resource, cost of third party service providers (attorneys, CPA s, etc), payroll perpetuation planning, reputational risk, supply chain risk, and technology or social media risk
11 Key Factors to Determine Insurance Transfer & Distribution Adequate Capital Statutory capital vs. risk capital By end of year, 3:1 premium to surplus ratio Risk Transfer Must involve shifting of risk (not just a bank account) Must involve significant chance of a significant economic loss (use of independent, outside actuary) Risk Distribution Unrelated Risk Model ü At least 50% unrelated risk - Revenue Ruling ü At least seven unrelated entities (Group Captive) - Revenue Ruling Brother-Sister Model ü 12 or more insureds - Revenue Ruling ü Each risk must have between 5% and 15% of the overall exposure ü Limits on the types of corporate entities that can be counted
12 Reinsurance Purpose Protect captive against catastrophic loss Preserve Capital Risk Transfer Risk Distribution 51% of Premium Your Captive $650k excess of $300k is yours $300k excess of $50k is reinsurers $50k is yours Structure Cost is 6% of Ceded Premium (which is 51% of Gross Premium) On $1M limit, reinsurance pays $300,000 (see diagram) Only 10% cash is held as a deposit in trust account Captive Participants Captive Participants Reinsurance Captive Participants Stop Loss Reinsurance Policy with AM Best A-rated carrier
13 831(b) Tax Election For Actual Insurance Company s Only $1.2M or less in NET premiums written Underwriting profit not taxed ONLY taxed on investment income May be onshore or offshore (offshore requires 953(d) election) Administrative expenses not deductible (except those having to do with managing investments) Claims not deductible Net operating loss not allowed to carry over Due to attribution in a control group, structure is critical Investments are allowed like any type of captive Most effective in low frequency/ high severity risk models In our opinion, the 831b election has been seriously abused by promoters that are exclusively pushing the tax benefits of the captive. They are not focused on the insurance and risk management aspects of the captive. This will not hold up.
14 Captive Structures Educate Evaluate Elevate
15 Single Parent (Pure) Captive Use Examples Reimburse retentions Insure low frequency high severity coverage Insure risk of multiple divisions or subsidiaries of the operating business If standalone, statutory capital in DE is $250,000 If a Series, statutory capital in DE is $50,000 Individual or Company Captive Typical Coverage Examples Loss of Key Contract/Employee Difference in Conditions General Liability EPLI/D&O Business Litigation Reputational Cover Builders Risk Prop/Auto Ded Products/Comp Ops Code Change
16 The Series LLC Captive Why a Series Model? Speed of Implementation Typically more cost effective: Mgmt Fee Audit/Actuarial Fee Premium Tax Lower barrier to entry the cell may use the sponsor s statutory capital until it grows its own Great for business affiliates Insured-owned Series Captive A $50,000 in Statutory Capital International Risk Insurance Company (CORE) Insured-owned Series Captive B Reinsurance Program Each Captive cedes 51% to Reinsurer Reinsurer sends back (retrocedes) 51% back to Captive $250,000 in Statutory Capital Insured-owned Series Captive C
17 For more information, contact: Mike Spaan, CEO, InLight Risk Management Direct: Or Jerry Messick, CEO, Elevate Captives Direct:
A Captive Primer: What they are and how they work. Educate Evaluate Elevate
A Captive Primer: What they are and how they work Educate Evaluate Elevate 1 2018 Do It Right, Or Don t Do It At All At Elevate, we passionately believe in what we do. We are conservative and focus on
More informationCaptive 101-Back to the Basics
Captive 101-Back to the Basics Sean Rider, Willis Global Captive Practice Scott Spencer, Stevens & Lee Moderator: Anne Marie Towle, Willis Global Captive Practice Presentation Topics Captive Primer Feasibility
More informationCaptives/RRGs 101-the Basics of Alternative Risk Transfer
Captives/RRGs 101-the Basics of Alternative Risk Transfer Sean Rider- Willis Captive Consulting Practice Jules Rousseau-Arent Fox LLP David Provost-State of Vermont Monday, March 14th - 1:30pm 3:00pm Presentation
More informationPC2: Introduction to Captives
PC2: Introduction to Captives Martin Eveleigh Chairman, Atlas Insurance Management Kirk Mooneyham Managing Director, Wilmington Trust SP Services, Inc. What is a Captive Insurance Company? A captive insurance
More informationCaptive Insurance Company FAQs
Captive Insurance Company FAQs What is a Captive Insurance Company? A captive is a closely held company in the business of insurance owned and controlled by one or more entities that are the exclusive
More informationUTILIZATION OF CAPTIVES TODAY
UTILIZATION OF CAPTIVES TODAY November 20, 2015 Prepared by: Julie Patel Vice President Marsh Captive Solutions Utilization of Captives Today Objectives of Discussion 1. Captive Basics 2. The Process of
More informationThe Purpose of a Captive Captives vs. Traditional Insurance Structuring a Captive Determining the Feasibility and Goals of a Captive Domicile
The Purpose of a Captive Captives vs. Traditional Insurance Structuring a Captive Determining the Feasibility and Goals of a Captive Domicile Selection Partner Selection Operating a Captive Captive Advantages
More informationCaptive Primer An Introduction to Captive Insurance
Captive Primer An Introduction to Captive Insurance This Captive Primer is designed as an introduction to captives to inform those looking to for an introduction to and basic understanding of captives.
More informationTopics of Discussion. Patrick Theriault Managing Director Strategic Risk Solutions Ph
Patrick Theriault Managing Director Strategic Risk Solutions Ph. 802.861.2630 patrick.theriault@strategicrisks.com Melissa Hancock Regional Manager Strategic Risk Solutions District of Columbia & Delaware
More informationCaptive Insurance. A Risk Management Solution for Businesses
Captive Insurance A Risk Management Solution for Businesses The Concept Captive insurance is a tool to manage the insurance risks of operating a business, while providing the owners of the business substantial
More informationCAPTIVE INSURANCE: Primer and Federal Tax Overview. November 2009
CAPTIVE INSURANCE: Primer and Federal Tax Overview November 2009 Overview 1. Types of Captives 2. Captive Insurance Domiciles: Foreign versus Domestic Jurisdiction Considerations 3. Professionals Required
More information831 Shades of Grey. Best Practices for Small Captives When Do We Cross the Line? Joanne Kenney Shaver
831 Shades of Grey Best Practices for Small Captives When Do We Cross the Line? Today s Moderator: Richard F. Klumpp Actuary: Captive Manger: Underwriter: Estate Planning Attorney: CPA: Brian Johnson John
More informationAlternative Regulatory Structures for Pools What If Being A JPA Isn t Enough?
Alternative Regulatory Structures for Pools What If Being A JPA Isn t Enough? Patrick Theriault, Managing Director, SRS Shawn Bubb, Director of Insurance Services, MSGIA Joel Kress, Underwriting Manager,
More informationA Guide to Captive Insurance
A Guide to Captive Insurance 1 THE CAPTIVE MARKET 06 Captive insurance companies are a prominent risk control mechanism in strategic planning of organizations ranging from Fortune 500 companies to medium-sized
More informationC5: THE EVOLVING USE OF ENTERPRISE RISK CAPTIVES (ERCs) SIIA NATIONAL CONFERENCE
C5: THE EVOLVING USE OF ENTERPRISE RISK CAPTIVES (ERCs) SIIA NATIONAL CONFERENCE Jeffrey K. Simpson Attorney Gordon, Fournaris & Mammarella, PA 1925 Lovering Avenue Wilmington, DE 19806 302-652-2900 JSimpson@Gfmlaw.com
More informationCaptives and the Management of Risk Table of Contents
Captives and the Management of Risk Table of Contents Captives and the Management of Risk (3rd ed.) Preface o Acknowledgement o About the Author o Frequently Asked Questions (CAPFAQs) Addressed in this
More informationCaptive Insurance Arrangements For Small Companies
Captive Insurance Arrangements For Small Companies Ronald H. Snyder ZERMATT INSURANCE GROUP, INC. 101 Convention Center Dr. Ste P-109 Las Vegas, NV 84109 What is a Captive Insurance Company? A Captive
More informationCaptive Insurance Overview
Captive Insurance Overview What is a Captive? Property & Casualty Insurance Company Formed to cover the unique risks of an operating company Provides coverage for specialized risks which may not be available
More informationCaptive Insurance. AICPA Real Estate and Construction Conference 12/9/16. Presented by: Kevin Atkinson, Founder
Captive Insurance AICPA Real Estate and Construction Conference 12/9/16 www.montpelieradvisors.com Presented by: Kevin Atkinson, Founder 1 SEMINAR TOPICS Captives for Risk Financing Enterprise Risk Captive
More informationIncorporated Cells Enhanced Flexibility
www.bakerdaniels.com Captive Insurance Council of the District of Columbia 10 th Annual Conference Incorporated Cells Enhanced Flexibility Captive Universe Single Parent Captives Sponsored Protected Segregated
More informationCaptives for Public Entities JUSTIN A. WILEY, CPCU, RMPE AREA ASSISTANT VICE PRESIDENT GALLAGHER PUBLIC SECTOR MONDAY, SEPTEMBER 18, 2017
Captives for Public Entities JUSTIN A. WILEY, CPCU, RMPE AREA ASSISTANT VICE PRESIDENT GALLAGHER PUBLIC SECTOR MONDAY, SEPTEMBER 18, 2017 Goals: 1. To provide a basic overview of Captives and demonstrate
More informationCaptive Insurance Explained in Plain English
Captive Insurance Explained in Plain English If you re at all familiar with captive insurance, you know that it is often described as a robust, sophisticated alternative risk planning strategy. Industry
More informationSEGREGATED CELL CAPTIVES. Arthur D. Perschetz, Esquire Kilpatrick Stockton LLP
SEGREGATED CELL CAPTIVES Arthur D. Perschetz, Esquire Kilpatrick Stockton LLP October 22, 2009 Overview What is a Cell Captive What s in a Name Where in the World Who Uses Cells The District of Columbia
More informationTuesday, March 17, 2015 Houston, TX. 3:45 5:00 p.m. CAPTIVATING RISK: ART MARKET AND CAPTIVE SOLUTIONS
Tuesday, March 17, 2015 Houston, TX 3:45 5:00 p.m. : ART MARKET AND CAPTIVE SOLUTIONS Presented by Michael O Neill, CPCU, ARM President and CEO American Contractors Insurance Group Many companies look
More informationInsurance Contracts for 831(b) Enterprise Risk Captives Policies and Pooling Agreements
Insurance Contracts for 831(b) Enterprise Risk Captives Policies and Pooling Agreements Jeffrey K. Simpson John R. Capasso Brian Johnson Gordon, Fournaris & Mammarella, P.A. Captive Planning Associates,
More informationEmployee Benefits & Captives. A presentation for the International Employee Benefits Association. London, October 7 th 2008
Employee Benefits & Captives A presentation for the International Employee Benefits Association London, October 7 th 2008 1 Captives: a quick history 1870 Protection & Indemnity clubs (about 100, up until
More informationThe press and the United States government
Economic Advantages of Life Reinsurance by Kent Scheiwe and Margaret O Connor The press and the government have paid attention to the negative connotations of offshore, particularly regarding tax avoidance
More informationCaptive College: Fundamentals and Development Issues
Captive College: Fundamentals and Development Issues 2018 World Captive Forum January 31 February 2, 2018 Fort Lauderdale, FL #WorldCaptiveForum The Faculty Hugh Rosenbaum Jeff Kenneson Maria Sheffield
More informationBureau of Captive and Financial Insurance Products
Bureau of Captive and Financial Insurance Products Delaware Captive Insurance Association Fall Forum September 20, 2016 Steve Kinion Director, Delaware Insurance Department Delaware is the 3 rd Largest
More informationP1: PRE CONFERENCE SESSION: Introduction to Captive Insurance Monday, October 21, 2013, 3:00 pm to 5:00 pm
P1: PRE CONFERENCE SESSION: Introduction to Captive Insurance Monday, October 21, 2013, 3:00 pm to 5:00 pm Kevin Doherty Partner Nelson Mullins Riley & Scarborough, LLP Christopher L. Kramer Director of
More informationCell Company Overview and Innovative Applications
Cell Company Overview and Innovative Applications 2018 World Captive Forum January 31 February 2, 2018 Fort Lauderdale, FL #WorldCaptiveForum Presenters: Les Boughner Chairman Advantage Insurance Management
More informationBest Captive Practices for 831(b)s Do Them Right or Don t Do Them At All
Best Captive Practices for 831(b)s Do Them Right or Don t Do Them At All Webcast provided by ICCIE Derek Freihaut Charles J. (Chaz) Lavelle Presenters: Joe LaMantia III Patrick Theriault Monday, March
More informationThe Feasibility Process
The Feasibility Process Moderator: Derek Freihaut Principal and Consulting Actuary; Pinnacle Actuarial Resources Panelists: Patrick Theriault Managing Director; Michael Meehan Consultant; Milliman Strategic
More informationSuccessful Cell Solutions- Segregated Cells, Incorporated Cells, or Series LLC
Successful Cell Solutions- Segregated Cells, Incorporated Cells, or Series LLC Moderator: Patrick Theriault, Wilmington Trust Captive Management Services Speakers: Arthur Perschetz, Baker & Daniels, LLP
More informationCaptive Insurance -- Basics
Captive Insurance -- Basics A captive insurance company (CIC) is an insurance company that insures the risks of operating business entities within the same economic family. 1. A CIC benefits its owner(s)
More informationTHE INTEGRATED CAPTIVE SOLUTION TM
THE INTEGRATED CAPTIVE SOLUTION TM corprotect.com info@corprotect.com copyright 2012 Corprotect LLC. WHAT IS A CAPTIVE INSURANCE COMPANY? A captive is an insurance company established to insure the specialized
More informationCell Captives: Innovation and Expansion. Thursday, Jan :15 12:15
Captives: Innovation and Expansion Thursday, Jan. 30 11:15 12:15 1 Moderator: Nick Frost, R&Q Quest Management Services Ltd. Speaker: Edward Koral, Deloitte Consulting LLP Protected Captives - Overview
More informationCaptive 101. Presenter Names. Robert J. Schuhriemen Alliant Insurance Services, Inc
Captive 101 Presenter Names Robert J. Schuhriemen Alliant Insurance Services, Inc. Robert.Schuhriemen@Alliant.com 312 546-5627 Mark Cain, FCAS, MAAA IRMS Actuarial Services MCain@team-iha.org 262) 754-1600,
More informationEXPECTED ADVERSE DEVIATION AS MEASURE OF RISK DISTRIBUTION
EXPECTED ADVERSE DEVIATION AS MEASURE OF RISK DISTRIBUTION Joseph A. Herbers, ACAS, MAAA, CERA Managing Principal, Pinnacle Actuarial Resources, Inc. Melanie Snyman, CA (SA) Assurance director, PwC Cayman
More informationSecurely managed insurance solutions
The Group Securely managed insurance solutions Protected Cell, Incorporated Cell and Segregated Account facilities Value Proposition To provide clients with insurance solutions without the costs or capital
More informationMULTI-STRAT RE LTD. CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2016 AND DECEMBER 31, 2015
CONSOLIDATED FINANCIAL STATEMENTS (AND INDEPENDENT AUDITOR S REPORT THEREON) FOR THE YEARS ENDED MULTI -STRAT RE LTD. CONSOLIDATED FINANCIAL STATEMENTS AS AT CONTENTS Independent Auditor s Report... 2
More information831(b) ELECTION
A6: TAX & REGULATORY ISSUES FOR 831(b) CAPTIVES SIIA 33rd Annual National Educational Conference & Expo October 21 23, 2013 Sheraton Chicago Hotel and Towers Chicago, IL Charles J. ( Chaz ) Lavelle Ernie
More informationEVOLUTION IN GROUP CAPTIVES
EVOLUTION IN GROUP CAPTIVES DCIA Fall Forum November 11-12, 2015 Chase Center on the Riverfront Wilmington, DE Jeffrey K. Simpson Gordon, Fournaris & Mammarella, P.A. 1925 Lovering Avenue Wilmington, DE
More informationTAX CONSIDERATIONS FOR TAXABLE ENTITIES
TAX CONSIDERATIONS FOR TAXABLE ENTITIES Mike Domanski Partner Honigman Miller Schwartz and Cohn LLP T.C. Leshikar Partner, Tax PwC Cayman Islands AGENDA Insurance vs. Non-Insurance Offshore Federal Tax
More information2016 Trends in Captive Utilization
2016 Trends in Captive Utilization Philip Stack, Vice President, Marsh Captive Advisory Jason McMillan, Senior Vice President, Marsh Captive Management Agenda Introduction Captive Vitals: What do you need
More informationRatemaking for Captives and Alternative Market Vehicles
Ratemaking for Captives and Alternative Market Vehicles Ann M. Conway, FCAS, MAAA Abstract: Although captives represent a significant part of the insurance market, there is relatively little information
More informationIntroduction to Private Insurance Companies
Introduction to Private Insurance Companies 1 Captive Growth A Captive Insurance Company provides insurance for its owner. With the continued awareness and recognition of opportunity, the captive insurance
More informationCaptive Report on QIS5. 19 th May 2011
Solvency II 19 th May 2011 Captives by country Ins RI Both Total Denmark 3 1 4 Gibraltar 4 4 Ireland 25 12 2 39 Luxembourg 4 54 58 Malta 2 2 4 Netherlands 3 6 9 Sweden 10 1 11 UK 2 2 Germany 1 1 Total
More informationExamination Best Practices and Hawaii Domicile Update. Honolulu, Hawaii October 22, 2014
Examination Best Practices and Hawaii Domicile Update Honolulu, Hawaii October 22, 2014 1 Welcome and Introductions Aloha 2 The Panel Robert Panah, CPA, CFE, CISA, Managing Director, Noble Consulting Services,
More informationA pioneer in ILS solutions
A pioneer in ILS solutions Insurance Linked Securities from We combine superior insurance and investment expertise About us Secquaero Advisors Ltd (Secquaero) is a specialist advisory firm in the areas
More informationOptimal Retention Levels How to get in the Zone
Optimal Retention Levels How to get in the Zone Panelists: James Evans, Albert Risk Management Consultants Stephen DiCenso, Milliman, Inc. Matthew Byrne, Cathedral Indemnity Company Moderator: Michael
More informationDeveloping the Operational Strategy of Managing Medical Stop Loss in Your Captive
Developing the Operational Strategy of Managing Medical Stop Loss in Your Captive Jesse Crary, Lawyer, Primmer Piper Eggleston & Cramer PC; Stephen Hannabury, President, Educators Health Insurance Exchange
More informationCorporate Risk Appetite and Program Structuring White paper 3 of 3
The first paper in this series discussed the impact that loss volatility has on the risk finance decision making process, and the second paper explored the notion of loss dependence and the influence of
More informationTHIS SESSION WILL USE POLLING!
THIS SESSION WILL USE POLLING! (To access in an internet browser, go to vcia.cnf.io) Click on the Polling Icon on the VCIA app Click on your session Respond to the Polls HOW TO USE SOCIAL Q&A! (To access
More informationThe Role of the Captive Manager
The Role of the Captive Manager Linda Danna Senior Vice President Marsh Management Services, Inc. Charleston, SC Conception What is a Captive? An insurance vehicle formed by an organization, not otherwise
More informationPutting Your Insurance Premiums to Work for You
Putting Your Insurance Premiums to Work for You Managing Risk as You Manage Your Bottom Line What do Verizon, Coca-Cola, BP and most Fortune 500 sized companies have in common? What do most auto dealerships,
More informationDaniel Keough & Martin Brauch, CFA Innovative Captive Strategies, Inc. (ICS)
Daniel Keough & Martin Brauch, CFA Innovative Captive Strategies, Inc. (ICS) Alternative Insurance Markets: Assessing New Risk Management Tools Agenda 1. Introduction to Innovative Captive Strategies (ICS)
More informationWhile U.S. captive domiciles have become more numerous and competitively
Offshore Domiciles Still a Draw for Captives Written By Karrie Hyatt While U.S. captive domiciles have become more numerous and competitively inviting, offshore domiciles are still a major draw for new
More informationReasons to Form A Captive Insurance Company
Reasons to Form A Captive Insurance Company Presented by Michael T. Scott, CPA, CRM, CPCU, CLU, ChFC, FLMI Attorney at Law Allison & Mosby-Scott July 24, 2018 Types of Captive Insurance Companies Single
More informationCAPTIVE INSURANCE TAXES: Is the Strike Zone Narrowing. GARY BOWERS Johnson Lambert LLP Raleigh, NC
CAPTIVE INSURANCE TAXES: Is the Strike Zone Narrowing GARY BOWERS Johnson Lambert LLP Raleigh, NC 919.719.6411 gbowers@johnsonlambert.com Preview We are breaking this into three parts: 1) Brief Tax Review
More informationCaptive Insurance Company Glossary
Captive Insurance Company Glossary All rights reserved. No part of this book may be reproduced in any form or by any means without permission in writing from the publisher. Captive Insurance Company Glossary
More informationBermuda Office OFFICE DESCRIPTION. Canon s Court 22 Victoria Street PO Box HM 1179 Hamilton HM EX Bermuda
Bermuda Office Canon s Court 22 Victoria Street PO Box HM 1179 Hamilton HM EX Bermuda T: +1 441 295 2244 F: +1 441 292 8666 E: bermuda@applebyglobal.com OVERVIEW Bermuda is one of the world s leading financial
More informationLYNDA MILLIGAN -WHYTE & ASSOCIATES Barristers & Attorneys
LYNDA MILLIGAN -WHYTE & ASSOCIATES Barristers & Attorneys Ram Re House, 2 nd Floor, 46 Reid Street, Hamilton HM 12, P.O. Box 1913, Hamilton HM HX, Bermuda Telephone: (441) 295-1302 Facsimile: (441) 295-8555
More informationIssues& Answers. Self-funding has become one of. Captives. Medical Stop-Loss
Medical Stop-Loss Captives Issues& Answers Written by Phillip C. Giles, CEBS and Steven A. McFarland 24 The Self-Insurer www.sipconline.net Self-funding has become one of the most widely used forms of
More informationSelf Insured Workers Comp vs Group Captives
You Say SIG, I Say Captive Self Insured Workers Comp vs Group Captives Keith Fawcett Brent Re Duke Niedringhaus J.W. Terrill-Marsh & McLennan Agency Similarities of Captives & SIGs Provide a mechanism
More informationThe Capterra team, combined, has over seventy years of experience in strategic planning and designing of captive insurance programs.
Overview: Capterra Risk Solutions, LLC is an alternative risk insurance consultant and licensed captive manager in both onshore and offshore captive jurisdictions. The team members are equipped with solid
More informationCaptive Opportunities for Healthcare Organizations
Captive Opportunities for Healthcare Organizations White Paper Aligning Strategy To Manage Risk TABLE OF CONTENTS ABOUT SPRING... 2 INTRODUCTION... 3 OPPORTUNITIES FOR HEALTHCARE CAPTIVES... 3 ACCOUNTABLE
More informationATTITUDES TOWARDS CAPTIVE INSURANCE IN ASIA
PRESENTATION ATTITUDES TOWARDS CAPTIVE INSURANCE IN ASIA RICHARD CUTCHER EDITOR, CAPTIVE REVIEW State of the Global Captive Market (i) 6,618 captives domiciled around the world in 2016 Breakdown by Region
More informationWELCOME TO THE WORLD OF CAPTIVES
WELCOME TO THE WORLD OF CAPTIVES Mike Meehan, CIC, CRM Consultant Milliman, Inc. Anne Marie Towle, CPA EVP, Captive Practice Leader JLT Insurance Management November 27, 2018 Learning Objectives Objective
More informationIntroduction to STOP LOSS CAPTIVES
Introduction to STOP LOSS CAPTIVES Colorado State Association of Health Underwriters Luncheon June 6, 2017 Presented by: Tony Minnich Tokio Marine HCC Captive Underwriting and Sales Lead What is a Stop
More informationReinsurance for Group Captives and RRGs. VCIA All Rights Reserved
Reinsurance for Group Captives and RRGs VCIA All Rights Reserved Kathryn Westover, Community Blood Centers Exchange Risk Retention Group & Innovative Captive Strategies, Inc. Paul Hearn, Aon Benfield Moderator
More informationCAPTIVATING Options. A growing number of smaller and midsize companies have
CAPTIVATING Options Variations in enterprise risk captive insurance help smaller or midsize firms cut costs and improve operational efficiency By Bruce Shutan A growing number of smaller and midsize companies
More informationP. Bruce Wright. P: E:
ATTORNEY BIOGRAPHY P. Bruce Wright Partner New York P: +1.212.389.5054 E: brucewright@eversheds-sutherland.com Education LL.M., Georgetown University Law Center J.D., cum laude, Brooklyn Law School B.S.,
More informationCAPTIVES The Rationale
CAPTIVES The Rationale Welcome! Tim Averill, Executive Director SET SEG Property/Casualty Pool Michael Rebaleati, Chief Operations Officer Nevada Public Agency Insurance Pool CAPTIVE OVERVIEW What is a
More informationSuccessful Captives: Three Case Studies
Successful Captives: Three Case Studies 2018 World Captive Forum January 31 February 2, 2018 Fort Lauderdale, FL #WorldCaptiveForum Presenters: Andrew W. Kush Chief Administrative Officer Healthcare Services
More informationNAIC BLANKS (E) WORKING GROUP
NAIC BLANKS (E) WORKING GROUP Blanks Agenda Item Submission Form DATE: 0//0 CONTACT PERSON: Sara Robben TELEPHONE: 8-8-80 EMAIL ADDRESS: srobben@naic.org ON BEHALF OF: NAME: Commissioner Mike Chaney FOR
More informationNew Zealand Captive Insurance Association
PO Box 369 Auckland Ph: 09 920 2997 31 March 2010 Mr C Foss Chair Person Finance and Expenditure Select Committee Parliament Buildings Private Bag 18 888 Wellington Dear Mr Foss Reserve Bank's Solvency
More informationTHE ANGUS FIRM, PLC CAPTIVE INSURANCE REPORT 2014 VOL. 1
1 THE ANGUS FIRM, PLC CAPTIVE INSURANCE REPORT 2014 VOL. 1 INTRODUCTION Vermont has remained at the forefront of domiciles by updating its statutes and implementing new and innovative ideas to meet the
More informationEU Protected Cells Captives on a budget
EU Protected Cells Captives on a budget Ian-Edward Stafrace MIRM FCII PIOR Chartered Insurer Risk Analyst & International Business Development Atlas Insurance PCC Ltd, Malta 22 March 2011 IRM Global Risk
More informationExpected Adverse Development as a Measure of Risk Distribution
Expected Adverse Development as a Measure of Risk Distribution Robert J. Walling III, FCAS, MAAA, CERA Derek W. Freihaut, FCAS, MAAA March 20, 2018 Experience the Pinnacle Difference! About the Presenters
More informationNavigating the Fundamentals of Captive Taxation
Navigating the Fundamentals of Captive Taxation Matt Gravelin-Johnson Lambert Derick White-Strategic Risk Solutions Jeff Johnson- Primmer Piper Eggleston and Cramer, PC March 10, 2014 from 1:30-2:30pm
More informationExam ERM-GI. Date: Tuesday, October 30, 2018 Time: 8:30 a.m. 12:45 p.m. INSTRUCTIONS TO CANDIDATES. Recognized by the Canadian Institute of Actuaries.
Enterprise Risk Management General Insurance Extension Exam ERM-GI Date: Tuesday, October 30, 2018 Time: 8:30 a.m. 12:45 p.m. INSTRUCTIONS TO CANDIDATES General Instructions 1. This examination has a total
More informationSelf-Insuring Worker s Compensation through a Tennessee Captive
Self-Insuring Worker s Compensation through a Tennessee Captive Presented by Keith Fawcett, CPCU, ARe Brentwood Reinsurance Intermediaries, Inc. Norman Chandler, CPA, CPCU Taylor Chandler, LLC New options
More informationSession 065 PD - Comparison Of Captive Regulatory Regimes. Moderator: Larry N. Stern, FSA, MAAA
Session 065 PD - Comparison Of Captive Regulatory Regimes Moderator: Larry N. Stern, FSA, MAAA Presenters: Steven E. Keshner, FSA, MAAA Alan E. Morris, ASA, ACAS, MAAA Larry N. Stern, FSA, MAAA SOA Antitrust
More informationSection 831(b) Captive Nuances and Best Practices, Tax Risk Distribution/Sharing and. Accounting Risk Transfer Rules
ACI s 2 nd Advanced Forum on Captive Insurance Section 831(b) Captive Nuances and Best Practices, Tax Risk Distribution/Sharing and April 24-25, 2014 Accounting Risk Transfer Rules Anne Marie Towle Senior
More informationStrategies for Transfer Pricing
Strategies for Transfer Pricing The impact of the OECD s Base Erosion & Profit Shifting Report Ian Kilpatrick - CICA Joel Chansky - Milliman Matt Gravelin - Johnson Lambert What is the OECD? Originally
More informationDefinition. Captivated by Captives 2013 Ratemaking and Product Management Seminar Huntington Beach, California. Agenda. What is a Captive?
Captivated by Captives 2013 Ratemaking and Product Management Seminar Huntington Beach, California Charles W. Mitchell, FCAS, MAAA Consulting Actuary Milliman, Inc. chuck.mitchell@milliman.com James Bulkowski,
More informationPooling in Microcaptives
Pooling in Microcaptives 2018 World Captive Forum January 31 - February 2, 2018 Fort Lauderdale, FL #WorldCaptiveForum Pooling in Small Captives Jeremy Huish Artex Risk Solutions Jeremy_Huish@artexrisk.com
More informationSingle Parent Risk Retention Group
Single Parent Risk Retention Group Gary Osborne, President - USA Risk Group Mike Meehan, Consultant - Milliman, Inc. Liability Risk Retention Act 1986 Federal Act allowing an insurance company licensed
More informationComparison of Captive Insurer Jurisdictions
Comparison of Captive Insurer Jurisdictions October 2017 2 Comparison of Captive Insurer Jurisdictions SPONSOR: Reinsurance Section and Committee on Life Insurance Research AUTHORS: Patricia Matson, FSA,
More informationP: E:
ATTORNEY BIOGRAPHY Saren Goldner Partner New York P: +1.212.389.5063 E: sarengoldner@eversheds-sutherland.com Education J.D., State University of New York at Buffalo Law School B.A., summa cum laude, University
More informationA BILL. entitled. INSURANCE AMENDMENT (No. 3) ACT 2015
9/16/2015 A BILL entitled INSURANCE AMENDMENT (No. 3) ACT 2015 1 Citation 2 Amends section 1 3 Amends section 4F 4 Amends section 6A 5 Amends section 14 6 Amends section 16A 7 Inserts section 16AA 8 Amends
More informationCIGNA FUNDING OPTIONS
CIGNA FUNDING OPTIONS How the right choice can help your clients make the most of their health plans Lauren Stoddard Cigna Self-funding Product Manager Gerard Sessa Cigna New Business Manager FOR AGENT/BROKER
More informationPhillip C. Giles, division vice-president marketing for Artex Risk Solutions, discusses the rise of group stoploss. Written by Phillip C.
ARTEX FOREWORD MEDICAL STOP-LOSS FOCUS RIDING THE WAVE OF POPULARITY Phillip C. Giles, division vice-president marketing for Artex Risk Solutions, discusses the rise of group stoploss captives As implementation
More informationTitle Slide. Second Header
Title Slide Second Header Moderator Roger Gillett Why Companies Form Captives Phil Barnes Captive Tax Update Rick Irvine Latest Ideas In Captive Use Scott Gemmell How To Form A Bermuda Captive Neil Horner
More informationEnergy Insurance Mutual Limited. Audited Financial Statements. Years ended December 31, 2017 and 2016 with Report of Independent Auditors
Audited Financial Statements Years ended December 31, 2017 and 2016 with Report of Independent Auditors Audited Financial Statements Years ended December 31, 2017 and 2016 Contents Report of Independent
More informationERM Capability A Rating Agency s View. David N. Ingram, CERA Director Enterprise Risk Management, Financial Services Ratings Standard & Poor s
ERM Capability A Rating Agency s View David N. Ingram, CERA Director Enterprise Risk Management, Financial Services Ratings Standard & Poor s The materials in this presentation represent the views of Standard
More informationCaptives at the Core: The Foundation of a Risk Financing Strategy
THE CAPTIVE LANDSCAPE MAY 2017 Captives at the Core: The Foundation of a Risk Financing Strategy How organizations around the world use their captive insurers THE CAPTIVE LANDSCAPE MAY 2017 Captives at
More informationUsing Captives to Manage Risk and Maximize Reward
ACWA JPIA 2018 Spring Conference May 8, 2018 Using Captives to Manage Risk and Maximize Reward Presented by: Andy Sells, ACWA JPIA Chief Executive Officer Mike Fleming, CSAC EIA Chief Executive Officer
More informationThe economic crisis of the past few
M A N A G E M E N T c o r p o r a t e f i n a n c e Captive Insurance Companies An Opportunity for Closely Held Businesses By Robert E. Bertucelli The economic crisis of the past few years has caused many
More information