Captive Insurance Division" "
|
|
- William Reynolds
- 5 years ago
- Views:
Transcription
1 Tennessee Department of Commerce & Insurance Captive Insurance Division Michael A. Corbett Director Tennessee Captive Insurance Company! September 12, 2012
2 Agenda! A. Commerce & Insurance B. Regulatory Team C. Captive Assessment D. Application E. Forms F. Q & A
3 TDCI s History In 1878, the Tennessee General Assembly recognized the need for consumer protection and insurance regulation by creating the Bureau of Insurance with the state treasurer acting as insurance commissioner. In 1913, a separate Department of Insurance was formed under the direction of a commissioner, who became an officer in the governor s Cabinet. The Fire Prevention Division was added in 1937, and, to reflect its expanded role in business regulation and consumer protection, the State Insurance Department became the Department of Commerce and Insurance in 1983.!
4 TDCI and the NAIC The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. As a matter of course, Commissioners of states departments of insurance participate in the NAIC. I am the Chair of the Life Insurance and Annuities (A) Committee. A few weeks ago, I testified on behalf of the NAIC before the Department of Labor's Advisory Council on Employee Welfare and Pension Benefit Plans.
5 TDCI s Mission Shared focuses inform TDCI s mission: protecting the interests of consumers while providing fair, efficient oversight and a level field of competition for a broad array of industries and professionals doing business in Tennessee.
6 Captive Insurance Captive insurance companies are insurance companies established with the specific objective of insuring risks emanating from their parent group or groups
7 Commerce & Insurance Tennessee is the second-oldest US captive domicile, having first passed a captive law in Tennessee Governor Bill Haslam updated the regulatory framework, contained in the Revised Tennessee Captive Insurance Act. This new Act became effective on September 1, Changes in the new Act put Tennessee on the leading edge of captive regulations in the United States.
8 Commerce & Insurance The Law permits the formation of: Traditional single parent captives (Pure) Group captives Industrial insured captives Risk retention groups Protected cell companies Branch captives, and Special purpose financial captives!
9 Types of Captives Pure captive insurance company - any company that insures risks of its parent, affiliated companies, or controlled unaffiliated business; Association captive insurance company - any company that insures risks of the member organizations of an association, affiliated companies, or the association itself;
10 Types of Captives Industrial Insured Captive Insurance Company - any company that insures the industrial insureds that comprise its industrial insured group, affiliated companies, and controlled unaffiliated business; (A) Who procures insurance by using a full-time employee acting as an insurance manager or buyer; (B) Whose aggregate annual premiums for insurance on all risks total at least $25,000; and (C) Who has at least twenty-five (25) full-time employees.
11 Types of Captives Protected cell captive insurance company means any captive: (A) In which the minimum capital and surplus are provided by one (1) or more protected cell companies; (B) That is formed or licensed under this chapter; (C) That insures the risks of separate participants through participant contracts; and (D) That funds its liability to each participant through one (1) or more protected cells and segregates the assets of each protected cell from the assets of other protected cells and from the assets of the protected cell captive insurance company's general account.
12 Types of Captives Incorporated cell captive insurance company means a protected cell captive insurance company that is established as a corporation or other legal entity separate from its incorporated cells that are also organized as separate legal entities.
13 Types of Captives Branch captive insurance company means any alien captive insurance company licensed by the Commissioner to transact insurance in this state through a business unit with a principal place of business in this state. A branch captive insurance company is a pure captive insurance company with respect to operations in this state, unless otherwise permitted by the Commissioner. Branch captives are permitted for ERISA/employee benefits, as well as any other insurance or reinsurance permitted under this chapter.
14 Types of Captives SPFC or special purpose financial captive means a captive created for the limited purpose of entering into SPFC contracts and insurance securitization transactions. The creation of SPFCs is intended to achieve greater efficiencies in structuring and executing insurance securitizations, to diversify and broaden sources of capital for insurers, to facilitate access for many insurers to insurance securitization and capital markets financing technology, and to further the economic development and expand the interest of this state through its captive insurance program.
15 Types of Captives Risk Retention Group - means a captive insurance company organized under the laws of this state pursuant to the Liability Risk Retention Act of 1986, as a stock or mutual corporation, a reciprocal or other limited liability entity.
16 Regulatory Team Julie Mix McPeak Insurance Commissioner Larry Knight Assistant Commissioner Michael A. Corbett Director Captive Insurance Robert J. Ribe Examinations Director Tony Greer Chief Counsel for Insurance Andrew P. Rhea Assistant General Counsel
17 Focus Two primary objectives: Monitoring the solvency and standards of captive insurance companies. Ensuring regulation does not hinder the fair operation of the market.
18 Application Process Two-track process: 1. Prepare documents necessary for incorporation. 2. Prepare documents necessary for application to the Department.!
19 Application Process Minimum Capital & Surplus Deposited with Commerce & Insurance: Pure - $250,000 Special Purpose Financial - $250,000 Association - $500,000 Industrial - $500,000 Protected Cell - $500,000 RRG - $1,000,000
20 Application (continued) Other requirements: The captive manager, CPA and actuary must be approved by the captive department. The Department may perform an organizational exam shortly after issuing the Certificate of Authority. Application fee - $675 Feasibility Study Review Pass thru: Est. $3,000 - $4,000 No annual license fee
21 Local Representation Requirements Annual Directors meeting in Tennessee Principal place of business in Tennessee One board member must be a Tennessee resident
22 Forms & Information Forms & information available online ( Application form Biographical affidavit Approval forms for managers, actuaries & CPA firms List of currently approved managers, actuaries & CPAs Index format for captive application Letter of credit form Helpful links
23 Comments, Questions & Suggestions
24 Working to create a world class captive insurance domicile in Tennessee State of Tennessee Department of Commerce & Insurance Captive Insurance Department (888)
Self-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 informationA Bill Regular Session, 2017 HOUSE BILL 1476
Stricken language would be deleted from and underlined language would be added to present law. 0 State of Arkansas st General Assembly A Bill Regular Session, HOUSE BILL By: Representative Collins For
More informationBureau of Captive and Financial Insurance Products
Bureau of Captive and Financial Insurance Products Delaware Captive Insurance Association Spring Forum May 9, 2017 Steve Kinion Director, Delaware Insurance Department Delaware is the 3 rd Largest U.S.
More informationCOMMONWEALTH OF PUERTO RICO OFFICE OF THE COMMISSIONER OF INSURANCE. Proposed International Insurer s Name: SUBMISSION CHECKLIST
COMMONWEALTH OF PUERTO RICO OFFICE OF THE COMMISSIONER OF INSURANCE Proposed International Insurer s Name: SUBMISSION CHECKLIST In advance of the application: Did you schedule a meeting with the Commissioner
More informationRULES OF TENNESSEE DEPARTMENT OF COMMERCE AND INSURANCE DIVISION OF INSURANCE CHAPTER TENNESSEE CAPTIVE INSURANCE COMPANIES
RULES OF TENNESSEE DEPARTMENT OF COMMERCE AND INSURANCE DIVISION OF INSURANCE CHAPTER 0780-01-41 TENNESSEE CAPTIVE INSURANCE COMPANIES TABLE OF CONTENTS 0780-01-41-.01 Purpose and Authority 0780-01-41-.11
More informationMEMORANDUM. Financial Regulation Standards and Accreditation (F) Committee. Julie Garber, Senior Manager Solvency Regulation. DATE: November 4, 2015
-- MEMORANDUM TO: FROM: Financial Regulation Standards and Accreditation (F) Committee Julie Garber, Senior Manager Solvency Regulation DATE: November 4, 2015 RE: Proposed Revisions to Part A and Part
More informationNew Laws and Regulations in Washington, DC
New Laws and Regulations in Washington, DC 1 NAIC Part A Accreditation Standards Examination Authority Capital and Surplus Requirement NAIC Accounting Practices and Procedures Corrective Action Valuation
More informationBILL AS INTRODUCED H Page 1 of 8. Introduced by Representatives Botzow of Pownal, Kimbell of Woodstock, and
BILL AS INTRODUCED H. 0 Page of H. Introduced by Representatives Botzow of Pownal, Kimbell of Woodstock, and Marcotte of Coventry Referred to Committee on Date: Subject: Insurance; captive insurance companies
More informationNAIC POLICY STATEMENT ON FINANCIAL REGULATION STANDARDS
NAIC POLICY STATEMENT ON FINANCIAL REGULATION STANDARDS Part A: Laws and Regulations Preamble The purpose of the Part A: Laws and Regulations Standards is to assure that an accredited state has sufficient
More informationAN ACT IN THE COUNCIL OF THE DISTRICT OF COLUMBIA
AN ACT Codification District of Columbia Code 2001 Supp. IN THE COUNCIL OF THE DISTRICT OF COLUMBIA To permit the chartering and operation of captive insurance companies in the District of Columbia; to
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 informationDepartment of Insurance State of Arizona Captive Insurance Division Telephone: (602) Facsimile: (602)
Department of Insurance State of Arizona Captive Insurance Division Telephone: (602) 364-4490 Facsimile: (602) 364-3989 JANICE K. BREWER 2910 North 44 th Street, Suite 210 GERMAINE L. MARKS Governor Phoenix,
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 informationReference Guide. Captives. State of New Jersey Department of Banking and Insurance. Office of Captive Insurance
State of New Jersey Department of Banking and Insurance Office of Captive Insurance Telephone: (609) 292-7272 Facsimile: (609) 292-6765 Reference Guide Captives This document is only a guide intended to
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 informationRISK RETENTION GROUPS 101
RISK RETENTION GROUPS 101 CICA 2009 International Conference March 8, 2009 Robert Skip Myers, rhm@mmmlaw.com Karen Cutts, cutts@rrr.com Wendy Fisher, wfisher@2-10.com John Svoboda, jsvoboda@2-10.com Federal
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 informationAPPLICATION FOR ACCREDITED REINSURER
Office of Insurance Regulation Company Admissions APPLICATION FOR ACCREDITED REINSURER The Office receives applications electronically. Please submit your application at http://www.floir.com/iportal, using
More informationNORTH CAROLINA CAPTIVE INSURANCE COMPANY PROGRAM
NORTH CAROLINA CAPTIVE INSURANCE COMPANY PROGRAM Captive Insurance Company Regulatory Team Wayne Goodwin Raymond Martinez Ben Popkin Debra Walker Rick Kohan Ke Xu Jonathan Stark Kevin Brodie Rick Kilpatrick
More informationReference Guide Captives Other Than Risk Retention Groups Updated as of September 2012
Department of Insurance State of Arizona Captive Insurance Division Telephone: (602) 364-4490 Facsimile: (602) 364-3989 Reference Guide Captives Other Than Risk Retention Groups Updated as of September
More informationSubstitute for SENATE BILL No. 155
Session of Substitute for SENATE BILL No. By Committee on Financial Institutions and Insurance - 0 0 AN ACT concerning insurance; relating to surplus lines coverage; defining terms; relating to gross premiums
More informationFORM CR-F INDEX. Part 1 Assumed Reinsurance Property/Casualty Business. Part 2 Ceded Reinsurance Property/Casualty Business
FORM CR-F INDEX Part 1 Assumed Reinsurance Property/Casualty Business Part 2 Ceded Reinsurance Property/Casualty Business 2012 National Association of Insurance Commissioners 1 CR-F 2012 FORM CR-F PART
More informationH.563. An act relating to captive insurance laws and accreditation standards. It is hereby enacted by the General Assembly of the State of Vermont:
2014 Page 1 of 7 H.563 An act relating to captive insurance laws and accreditation standards It is hereby enacted by the General Assembly of the State of Vermont: * * * Dormant Captive Insurance Companies
More informationMAKE NORTH CAROLINA HOME FOR YOUR CAPTIVE INSURANCE COMPANY
MAKE NORTH CAROLINA HOME FOR YOUR CAPTIVE INSURANCE COMPANY NORTH CAROLINA DEPARTMENT OF INSURANCE Mike Causey, Commissioner 1201 Mail Service Center Raleigh, NC 27699-1201 www.ncdoi.com N.C. Insurance
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 informationSummer 2010 Vol 6. No. 3. Captivating Summer Reading
Summer 2010 Vol 6. No. 3 Captivating Summer Reading Cover Story A Captivating Tale Delaware s Continued Commitment to Captive Insurance by Richard J. Facciolo, Esq. Director Richards, Layton & Finger,
More informationDepartment of Insurance Presentation to the Joint Legislative Oversight Committee on General Government December 5, 2017
Department of Insurance Presentation to the Joint Legislative Oversight Committee on General Government December 5, 2017 FRAUD CONTROL GROUP Criminal Investigations Division Bail Bond Regulatory Division
More informationModel #785: 11/09/18 Draft Considered for Adoption by Reinsurance (E) Task Force Attachment Five
CREDIT FOR REINSURANCE MODEL LAW Preface to Credit for Reinsurance Models The amendments to the NAIC Credit for Reinsurance Model Law (#785) & Regulation (#786) are part of a larger effort to modernize
More informationWhat can the European Captive Industry Learn from the U.S.?
What can the European Captive Industry Learn from the U.S.? Captive Live UK London, 23 January 2015 Steve Kinion Director, Delaware Insurance Department Delaware is the 3 rd Largest U.S. Captive Domicile
More informationINSURANCE MANAGERS ASSOCIATION OF CAYMAN - DOMICILE COMPARISON Updated at April 22, 2013 by BK.
Captives (as of 12/31/12) 741 256 856 116 160 588 Capitalisation ~ Class B(i) $100,000-General Capital - $125,000 minimum. $120,000 Class 1 Capital/Surplus: ~Pure Captive: $100,000 capital ~ Pure: $250,000
More informationNAIC FORM CR-F INDEX. Part 1 Assumed Reinsurance Property/Casualty Business Part 2 Ceded Reinsurance Property/Casualty Business...
NAIC FORM CR-F INDEX INSTRUCTIONS Part 1 Assumed Reinsurance Property/Casualty Business................ 2 Part 2 Ceded Reinsurance Property/Casualty Business................... 4 FORMS Part 1 Assumed Reinsurance
More informationINTERNATIONAL INSURERS CENTER
INTERNATIONAL INSURERS CENTER Since 2005, the International Insurers and Reinsurers Division of the Office of the Commissioner of Insurance of Puerto Rico, or the International Insurance Center (the Center)
More informationAUTO CLUB INSURANCE COMPANY OF FLORIDA
REPORT ON EXAMINATION OF AUTO CLUB INSURANCE COMPANY OF FLORIDA TAMPA, FLORIDA AS OF DECEMBER 31, 2007 BY THE OFFICE OF INSURANCE REGULATION TABLE OF CONTENTS LETTER OF TRANSMITTAL...- SCOPE OF EXAMINATION...
More information: Recodified as by Session Laws 1995, c. 360, s. 1(c).
Article 8B. Taxes Upon Insurance Companies. 105-228.3. Definitions. The following definitions apply in this Article: (1) Article 65 corporation. A corporation subject to Article 65 of Chapter 58 of the
More informationCREDIT FOR REINSURANCE MODEL LAW
Adopted by the Reinsurance (E) Task Force and Financial Condition (E) Committee 1/6/2016 Adopted by the Executive (EX) Committee and Plenary 1/8/2016 Revisions to the Credit for Reinsurance Model Law #785
More informationNEW YORK STATE INSURANCE DEPARTMENT 11 NYCRR 89 REGULATION NO. 118 AUDITED FINANCIAL STATEMENTS
NEW YORK STATE INSURANCE DEPARTMENT 11 NYCRR 89 REGULATION NO. 118 AUDITED FINANCIAL STATEMENTS I, James J. Wrynn, Superintendent of Insurance of the State of New York, pursuant to the authority granted
More informationTITLE 18. Insurance Code. Insurance
6951. 6952. 6953. 6954. 6955. 6956. 6957. 6958. 6959. 6960. 6961. 6962. 6963. 6951. Purpose. TITLE 18 Insurance Code Insurance CHAPTER 69. CAPTIVE INSURANCE COMPANIES Subchapter III. Special Purpose Financial
More informationCAPTIVE INSURANCE UPDATE 2011 Issue No. 1. New Democratic Administration,, Same Commitment to the Captive Insurance Industry
DRM DOWNS RACHLIN MARTIN PllC CAPTIVE INSURANCE GROUP 2011 Downs Rachlin Martin PLLC CAPTIVE INSURANCE UPDATE 2011 Issue No. 1 CONTENTS: INTRODUCTION DEVELOPMENTS IN VERMONT New Democratic Administration,,
More informationAUTO CLUB SOUTH INSURANCE COMPANY
REPORT ON EXAMINATION OF AUTO CLUB SOUTH INSURANCE COMPANY TAMPA, FLORIDA AS OF DECEMBER 31, 2005 BY THE OFFICE OF INSURANCE REGULATION TABLE OF CONTENTS LETTER OF TRANSMITTAL...- SCOPE OF EXAMINATION...
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 informationVIRGINIA ACTS OF ASSEMBLY SESSION
VIRGINIA ACTS OF ASSEMBLY -- 2012 SESSION CHAPTER 539 An Act to amend and reenact 38.2-1316.1, 38.2-1316.2, 38.2-1316.4, and 38.2-1316.8 of the Code of Virginia and to repeal 38.2-1316.3, 38.2-1316.5,
More informationBULLETIN. Number 11-B-07
North Carolina Department of Insurance Wayne Goodwin, Commissioner BULLETIN Number 11-B-07 TO: FROM: ALL INSURERS ELIGIBLE TO WRITE NONADMITTED INSURANCE IN NORTH CAROLINA ALL NORTH CAROLINA LICENSED SURPLUS
More informationFlorida Office of Insurance Regulation
Florida Office of Insurance Regulation 2009 Annual Report October 1, 2009 Medical Malpractice Financial Information Closed Claim Database and Rate Filings OIR 1 September 30, 2009 -- INDEX -- Executive
More informationUniform Certificate of Authority Application QUESTIONNAIRE
Uniform Certificate of Authority Application QUESTIONNAIRE Directions: Each "Yes" or "No" question is to be answered by marking an "X" in the appropriate space. All questions should be answered. If the
More informationBLANKS (E) WORKING GROUP Tuesday, August 6, :00 a.m. 12:00 p.m. ROLL CALL
Conference Call BLANKS (E) WORKING GROUP Tuesday, August 6, 2013 11:00 a.m. 12:00 p.m. ROLL CALL Jacob Garn, Chair Utah Dan Schaefer Michigan Kim Hudson, Vice Chair California Jim Nixon Nebraska Maxine
More informationNumber of Insurance Companies. U.S. Premiums by NAIC Financial Statement Type. U.S. Premiums by IDRR Premium Type. Insurance Department Data
The mission of the National Association of Commissioners (NAIC) is to assist state insurance regulators, individually and collectively, in serving the public interest and achieving the following fundamental
More informationNumber of Insurance Companies. U.S. Premiums by NAIC Financial Statement Type. U.S. Premiums by IDRR Premium Type. Insurance Department Data
The mission of the National Association of Commissioners (NAIC) is to assist state insurance regulators, individually and collectively, in serving the public interest and achieving the following fundamental
More informationANNUAL STATEMENT FOR THE YEAR 2015 OF THE MGIC INDEMNITY CORPORATION ASSETS
ASSETS 1 Assets Current Year 2 Nonadmitted Assets 3 Net Admitted Assets (Cols. 1-2) Prior Year 4 Net Admitted Assets 1. Bonds (Schedule D) 2. Stocks (Schedule D): 2.1 Preferred stocks 2.2 Common stocks
More informationNumber of Insurance Companies. U.S. Premiums by NAIC Financial Statement Type. U.S. Premiums by IDRR Premium Type. Insurance Department Data
The mission of the National Association of Commissioners (NAIC) is to assist state insurance regulators, individually and collectively, in serving the public interest and achieving the following fundamental
More informationFilings: An original hardcopy CARF and other required documents must be filed along with an electronic copy of the completed CARF.
NORTH CAROLINA DEPARTMENT OF INSURANCE Form C-200 Captive Annual Report Form Instructions (All captive insurers except association captive insurers and risk retention groups) A. GENERAL INSTRUCTIONS This
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 informationIC Chapter 20. Additional Provisions Pertaining to All Insurance Companies
IC 27-1-20 Chapter 20. Additional Provisions Pertaining to All Insurance Companies IC 27-1-20-1 Insurance of deposited securities Sec. 1. The department, in the name of the State of Indiana, and for the
More informationOffice of Inspector General
Audit Report OIG-14-036 Treasury Made Progress to Stand Up the Federal Insurance Office, But Missed Reporting Deadlines May 14, 2014 Office of Inspector General Department of the Treasury Contents Audit
More informationModernization In Insurance Regulation
Modernization In Insurance Regulation Larry J. Bruning FSA, MAAA Chief Actuary Kansas Insurance Department lbruning@ksinsurance.org September 2006 1 Key Elements of Change Reserve & Capital Calculation
More informationRetaliation 2017/2018
ARIZONA Arrow indicates an update for LAWS AND RULES Arizona Revised Statutes ( ARS ) are accessible from the Legislative Council menu on the Arizona State Legislature web site (www.azleg.gov). Most insurance
More informationIntroduced by Representatives Botzow of Pownal, Bouchard of Colchester, 2. Carr of Brandon, Cross of Winooski, Dickinson of 3St.
04 Page of H. Introduced by Representatives Botzow of Pownal, Bouchard of Colchester, Carr of Brandon, Cross of Winooski, Dickinson of St. Albans Town, Kitzmiller of Montpelier, Marcotte of Coventry, 4
More informationAMERICAN COUNCIL OF LIFE INSURERS
AMERICAN COUNCIL OF LIFE INSURERS Life Insurers Fact Book 2012 The American Council of Life Insurers is a Washington, D.C.-based trade association. Its member companies offer life insurance, long-term
More informationCOORDINATION EXAMINATION REPORT RELATING TO THE CONDITION OF PRUDENTIAL LEGACY INSURANCE COMPANY OF NEW JERSEY NEWARK, NEW JERSEY
STATE OF NEW JERSEY Filed June 1, 2018 Commissioner Department of Banking & Insurance COORDINATION EXAMINATION REPORT RELATING TO THE CONDITION OF PRUDENTIAL LEGACY INSURANCE COMPANY OF NEW JERSEY NEWARK,
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 informationGENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2015 HOUSE BILL 287 RATIFIED BILL
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2015 HOUSE BILL 287 RATIFIED BILL AN ACT TO ENHANCE AND IMPROVE CONSUMER PROTECTIONS AND TRANSPARENCY RELATED TO MOTOR VEHICLE MAINTENANCE AND REPAIRS, LONG-TERM
More informationNEW JERSEY CAPTIVE ANNUAL REPORT FORM INSTRUCTIONS
NEW JERSEY CAPTIVE ANNUAL REPORT FORM INSTRUCTIONS A. GENERAL INSTRUCTIONS This New Jersey Captive Annual Report Form (NJCARF) is an Excel spreadsheet that is to be used by all pure, group, and sponsored
More informationIncorporated/Organized 09/15/2006 Commenced Business 04/24/2007. (Street and Number) Guaynabo, PR, US ,
LIFE AND ACCIDENT AND HEALTH COMPANIES - ASSOCIATION EDITION ANNUAL STATEMENT FOR THE YEAR ENDED DECEMBER, 05 OF THE CONDITION AND AFFAIRS OF THE PAN-AMERICAN LIFE INSURANCE COMPANY OF PUERTO RICO NAIC
More informationNeed Scenic Photo Here
Need Scenic Photo Here DEPARTMENT OF COMMERCE AND INSURANCE 500 James Robertson Parkway Nashville, TN 37243-5065 (615) 741-6007 TN.gov/commerce Leslie A. Newman, Commissioner Mary G. Moody, Deputy Commissioner
More informationNAIC 2018 Fall National Meeting Highlights
Debevoise In Depth NAIC 2018 Fall National Meeting Highlights December 21, 2018 The National Association of Insurance Commissioners ( NAIC ) held its 2018 Fall National Meeting from November 15 to 18,
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 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 informationST. JOHNS INSURANCE COMPANY, INC.
REPORT ON EXAMINATION OF ST. JOHNS INSURANCE COMPANY, INC. ORLANDO, FLORIDA AS OF DECEMBER 31, 2005 BY THE OFFICE OF INSURANCE REGULATION TABLE OF CONTENTS LETTER OF TRANSMITTAL...- SCOPE OF EXAMINATION...
More informationTHE GENERAL ASSEMBLY OF PENNSYLVANIA HOUSE BILL
SENATE AMENDED PRIOR PRINTER'S NOS., 1 PRINTER'S NO. THE GENERAL ASSEMBLY OF PENNSYLVANIA HOUSE BILL No. Session of 01 INTRODUCED BY PICKETT, BAKER, SCHLEGEL CULVER, DeLUCA, MILLARD, WARD, D. COSTA, BRADFORD,
More information_Review. IFe Review - Print Page 1 of 5
IFe Review - Print Page 1 of 5 _Review The US Virgin Islands' Economic Development Program By Marjorie Rawls Roberts, Marjorie Rawls Roberts PC, St Thomas, USVI* The US Virgin Islands (USVI), an unincorporated
More informationHealth Insurance Exchange Plan Management
Health Insurance Exchange Plan Management Exchange Plan Management, the NAIC and SERFF: Learning How the Pieces Fit Kelly McCumber, Product Specialist II Jon Sink, Business Analyst II The NAIC, SERFF and
More informationHot Topics. David Provost, Deputy Commissioner of Captive Insurance - Vermont. Robert H. Myers, Jr., Partner - Morris, Manning & Martin, LLP
Hot Topics David Provost, Deputy Commissioner of Captive Insurance - Vermont Robert H. Myers, Jr., Partner - Morris, Manning & Martin, LLP Dan Petterson, Director of Financial Examinations - Vermont Dan
More informationUS Options for Accelerated Closure of Legacy Liabilities
US Options for Accelerated Closure of Legacy Liabilities Casualty Actuarial Society September 2015 Andrew Rothseid RunOff Re.Solve LLC September 10, 2015 2013 2015RunOff Re.Solve LLC Agenda Putting run
More informationAmerican Fidelity Life Insurance Company
Report on Examination of American Fidelity Life Insurance Company Pensacola, Florida as of December 31, 2004 By The State of Florida Office of Insurance Regulation CONTENTS SCOPE OF EXAMINATION...1 STATUS
More informationPart I: Accreditation Standards and the Related Models
Updated: March 27, 2018 Part I: Accreditation Standards and the Related Models Standard Cited Model Law Date Adopted as Standard Requirement Required Version Comments 1. Examination Model Law on Examinations
More informationYERMONT. January 15, 2009
State of Vermont Department of Banking, Insurance, Securities and Health Care Administration 89 Main Street Montpelier, Vf 05620-3101 www.bishca.state.vt.us Consumer Assistance Only: insurance: 1-800-964-1784
More informationSept. 6, The Honorable Steven T. Mnuchin Secretary U.S. Department of the Treasury 1500 Pennsylvania Avenue, NW Washington, D.C.
Sept. 6, 2017 The Honorable Steven T. Mnuchin Secretary U.S. Department of the Treasury 1500 Pennsylvania Avenue, NW Washington, D.C. 20220 Re: Review of the FSOC s Non-Banks Designation Process Dear Secretary
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 informationAMERICAN COUNCIL OF LIFE INSURERS LIFE INSURERS FACT BOOK
2018 AMERICAN COUNCIL OF LIFE INSURERS LIFE INSURERS FACT BOOK AMERICAN COUNCIL OF LIFE INSURERS LIFE INSURERS FACT BOOK 2018 The American Council of Life Insurers is a Washington, D.C.-based trade association.
More informationIC ARTICLE 18. SURPLUS LINES INSURANCE COMPACT
IC 27-18 ARTICLE 18. SURPLUS LINES INSURANCE COMPACT IC 27-18-1 Chapter 1. Definitions IC 27-18-1-1 Application of definitions Sec. 1. The definitions in this chapter apply throughout this article. IC
More informationAMERICAN COUNCIL OF LIFE INSURERS LIFE INSURERS FACT BOOK
2017 AMERICAN COUNCIL OF LIFE INSURERS LIFE INSURERS FACT BOOK AMERICAN COUNCIL OF LIFE INSURERS LIFE INSURERS FACT BOOK 2017 The American Council of Life Insurers is a Washington, D.C.-based trade association.
More informationPreface to Credit for Reinsurance Models
Preface to Credit for Reinsurance Models The amendments to the NAIC Credit for Reinsurance Model Law (#785) & Regulation (#786) are part of a larger effort to modernize reinsurance regulation in the United
More informationPENN TREATY NETWORK AMERICA INSURANCE COMPANY AMERICAN NETWORK INSURANCE COMPANY FREQUENTLY ASKED QUESTIONS
STATUS OF PTNA AND ANIC PENN TREATY NETWORK AMERICA INSURANCE COMPANY AMERICAN NETWORK INSURANCE COMPANY FREQUENTLY ASKED QUESTIONS Revised 1/28/11 1. Are Penn Treaty Network America Insurance Company
More informationInstructions for Terrorism Risk Insurance Program (TRIP) 2018 Data Call Small Insurers
Instructions for Terrorism Risk Insurance Program (TRIP) 2018 Data Call Form Overview This reporting form is for small insurer groups or entities that, in 2016, had both a policyholder surplus and TRIP-eligible
More informationVCIA 2013 App. vcia. To get QR Code Scanner, download one from the apps store on your device
How to Download Your VCIA 2013 App vcia vcia2013 Scan Your QR Code While using a barcode scanner, point your devices camera at QR code Download the App Plug in our Username: vcia And Password: vcia2013
More informationRULES OF DEPARTMENT OF COMMERCE AND INSURANCE CHAPTER CORPORATE GOVERNANCE ANNUAL DISCLOSURE TABLE OF CONTENTS
RULES OF DEPARTMENT OF COMMERCE AND INSURANCE CHAPTER 0780-01-35 CORPORATE GOVERNANCE ANNUAL DISCLOSURE TABLE OF CONTENTS 0780-01-35-.01 Authority 0780-01-35-.02 Purpose 0780-01-35-.03 Definitions 0780-01-35-.04
More informationVista Insurance Plan, Inc.
Report on Examination of Vista Insurance Plan, Inc. Hollywood, Florida as of December 31, 2003 By The State of Florida Office of Insurance Regulation CONTENTS SCOPE OF EXAMINATION...1 STATUS OF ADVERSE
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 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 informationSOUTHERN GROUP INDEMNITY, INC.
REPORT ON EXAMINATION OF SOUTHERN GROUP INDEMNITY, INC. MIAMI, FLORIDA AS OF DECEMBER 31, 2002 BY THE OFFICE OF INSURANCE REGULATION TABLE OF CONTENTS LETTER OF TRANSMITTAL...- SCOPE OF EXAMINATION...
More informationHawaii Employers' Mutual Insurance Company, Inc.
PROPERTY AND CASUALTY COMPANIES - ASSOCIATION EDITION *10781201220100100* ANNUAL STATEMENT For the Year Ended December 31, 2012 of the Condition and Affairs of the NAIC Group Code..., NAIC Company Code...
More informationAmerican Council of Life Insurers Life Insurers
American Council of Life Insurers 2014 Life Insurers FactBook AMERICAN COUNCIL OF LIFE INSURERS Life Insurers Fact Book 2014 The American Council of Life Insurers is a Washington, D.C.-based trade association.
More informationEXAMINATION REPORT PURE INSURANCE COMPANY FORT LAUDERDALE, FLORIDA AS OF DECEMBER 31, 2014
EXAMINATION REPORT OF PURE INSURANCE COMPANY FORT LAUDERDALE, FLORIDA AS OF DECEMBER 31, 2014 BY THE FLORIDA OFFICE OF INSURANCE REGULATION TABLE OF CONTENTS LETTER OF TRANSMITTAL... - SCOPE OF EXAMINATION...1
More informationANNUAL STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 OF THE CONDITION AND AFFAIRS OF THE. Wilco Life Insurance Company
LIFE AND ACCIDENT AND HEALTH COMPANIES - ASSOCIATION EDITION ANNUAL STATEMENT FOR THE YEAR ENDED DECEMBER, 07 OF THE CONDITION AND AFFAIRS OF THE Wilco Life Insurance Company *659000700000* NAIC Group
More information79th OREGON LEGISLATIVE ASSEMBLY Regular Session. Enrolled. House Bill 2391
79th OREGON LEGISLATIVE ASSEMBLY--2017 Regular Session Enrolled House Bill 2391 Introduced and printed pursuant to House Rule 12.00. Presession filed (at the request of House Interim Committee on Health
More informationLessons Learned from the Financial Crisis: Recent Developments in Insurance Regulation
Lessons Learned from the Financial Crisis: Recent Developments in Insurance Regulation NOVEMBER 16, 2017 MYSTIC, CT 1 Agenda Learning Objectives NAIC and State Based Regulation 2008 Solvency Modernization
More informationNAIC IID International Insurers Department Plan of Operation
2017 NAIC IID International Insurers Department Plan of Operation NAIC Contacts Andy Daleo, Senior Property/Casualty Financial Analysis Manager Robert Schump, Surplus Lines & Information Services Program
More informationA.M. Best Rating Process for RRGs Writing Medical Professional Liability. September 23, 2010
A.M. Best Rating Process for RRGs Writing Medical Professional Liability September 23, 2010 Tina Bukow-Truman Senior Business Development Manager Jim Fowler Business Development Manager Henry Witmer Assistant
More informationToday s Presentation OVERVIEW OF SPONSORED INSURANCE PROGRAMS THE NEXT GENERATION OF ASSOCIATION SPONSORED INSURANCE PROGRAMS WEBINAR
THE NEXT GENERATION OF ASSOCIATION SPONSORED INSURANCE PROGRAMS WEBINAR Dixie Arthur, President, ASAE Services, Inc. Tony Benedetto, Executive Vice President, NASW Insurance Services Arthur Perschetz,
More informationSmall Company Asset Adequacy
Small Company Asset Adequacy Michael A. Mayberry, F.S.A., M.A.A.A. Agenda Current AOMR Newly Adopted AOMR and major changes Small Company Exemption deleted Executive Summary now required Required interest
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 information