One of the key advantages of captive insurance is the ability to achieve pricing stability. As a captive matures and accumulates capital and surplus, it becomes better equipped to retain risk and insulate itself from fluctuations in the commercial insurance market.
2024 was a milestone year for captive insurance growth, with significant expansion across the industry. The number of captives worldwide increased to an estimated 8,000, writing approximately $50 billion in premiums
A large international industrial client approached C.I. to perform a comprehensive Enterprise Risk Assessment to uncover any risks their business may be exposed to. Their primary concern being the exposure to international trade credit risk to protect the insured businesses from losses related to buyers’ non-payment of commercial debts.
C.I.'s Nate Reznicek spoke at Cayman Captive Forum 2024 about the challenges and intricacies of placing property risks in captive insurance arangements.
The Cayman Captive Forum 2024, held in the Cayman Islands, showcased the jurisdiction's prominence in the global captive insurance industry. The forum opened with remarks from Kieran Mehigan, managing director of Marsh and chairman of the Insurance Managers Association of Cayman (IMAC). He emphasized the conference's growth and international appeal, noting that it was fully sold out.
With the recent multiple CAT events experienced in Florida, Parametric coverage can be a way to provide peace of mind for the financial health of your captive insurance company.
The cyber reinsurance market is evolving significantly in 2024, characterized by growth, increased stability, and adaptation to emerging risks. Here are the key developments:
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