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Guernsey must pay attention to UK’s ILS push, says McLaughlin
27 March 2017 | St Peter Port
Guernsey should take the UK ‘seriously’ as it sets up an insurance-linked securities (ILS) regime in London, according to Stewart McLaughlin, executive director at Aon Risk Solutions Read more

Grant Thornton Cayman founding partner retires
27 March 2017 | Cayman Islands
Grant Thornton’s Terry Carson has retired, stepping down from his role as founding partner Read more

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Disruptive technology driving captive growth
15 March 2017 | San Diego | Reporter: Becky Butcher
The rise of technology is driving captive growth, as trickier coverages are required to cover new risks, according to speakers at the Captive Insurance Companies Association (CICA) International Conference.

Michael Serricchio, senior vice president in the captive advisory group at Marsh, noted that non-traditional coverages, such as employee benefits, supply chain, cyber, political risk and medical stop-loss, have increasingly been put into captives over the last few years due to advances in technology.

Technology-reliant industries, such as financial services and media, are also among the biggest users of captives, with the former writing up to $19 billion in premiums and the latter $4.9 billion.

Another panellist, Karl Pedersen, senior advisory specialist at Marsh, pointed to cyber as the most inevitable risk to arise from technology advances, with hacks becoming more of a question of when than if.

Many types of assets exist within organisations, including intellectual property and data, that are vulnerable to cyber attacks, according to Pedersen. Breaches should be dealt with in three assessment phases, covering risk/loss, damages and coverages.

The panel noted that coverage of cyber policies has started to broaden, with lines including terrorism and first-party property damage.

When asked if commercial insurance or captive insurance was better for cyber coverage, Pedersen said that it depends on the needs of the business, but captives might be able to do what commercial insurers cannot.



Guernsey must pay attention to UK’s ILS push, says McLaughlin
Guernsey should take the UK ‘seriously’ as it sets up an insurance-linked securities (ILS) regim Read more

R&Q acquires another captive in runoff
ICDC had a total net asset value of $7.95 million at the end of 2016. It redomiciled in Vermont in 2 Read more

R&Q bags Bermuda captive
Randall & Quilter American Holdings has snapped up the Bermuda reinsurance captive of AmeriPride Ser Read more

Captive industry’s reputation under threat
The IRS’s Notice 2016-66 is having negative effects on the reputation of the captive insurance ind Read more

Captive industry meets covered agreement with mixed response
Industry response to the covered agreement between the EU and the US has been interesting and varied Read more

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