In with the new: how companies are using captives to expand their risk management strategies

In with the new: how companies are using captives to expand their risk management strategies

In with the new: how companies are using captives to expand their risk management strategies

It used to be that captives were considered a risk financing solution used mostly by larger companies whose unique risks were difficult or impossible to fully cover by traditional insurance means. Fortune 500 companies and large commercial accounts were dominating the captive space. Yet, captive use has evolved, driven by the desire of companies to gain more control over their…

The Insurance Amendment Act 2021: paving the way for 74% FDI in India’s insurance sector

The Insurance Amendment Act 2021: paving the way for 74% FDI in India’s insurance sector

The Insurance Amendment Act 2021: paving the way for 74% FDI in India’s insurance sector

The liberalisation of foreign investment in the Indian insurance sector has been a subject of debate for more than a decade. In her Budget speech of 1 February 2021, the minister of finance, Nirmala Sitharaman, announced that the foreign investment limit in the insurance sector is set to be increased from 49% to 74%, with some safeguards in relation to…

The need for resilience in the face of uninsurable risks

The need for resilience in the face of uninsurable risks

The need for resilience in the face of uninsurable risks

The desire to mitigate risks and improve resilience is nothing new, but risks are changing and evolving at a faster pace than ever and companies are facing ever-greater threats. Considering the times we live in – an era marked by a pandemic and an increase in other, more familiar threats to our way of life – the world appears not…

Structuring international programmes – harnessing digital capabilities

Structuring international programmes – harnessing digital capabilities

Structuring international programmes – harnessing digital capabilities

Digital capabilities have transformed the implementation and management of international insurance programmes, providing corporations with greater transparency and access to more data. But now those capabilities are being used to bring faster delivery, self-service capability and better insights and recommendations, to further improve the customer experience. Due to the pace of change and opportunities in terms of digitalisation, the expectations…

MGAs advised to focus on data quality as capacity dwindles

MGAs advised to focus on data quality as capacity dwindles

MGAs advised to focus on data quality as capacity dwindles

Reduced capital availability, rising rates and more disciplined underwriting are seen as a return to reality in the wider insurance and reinsurance market. But the collective belt tightening is proving to be a little uncomfortable for some in the managing general agency (MGA) sector, based on discussion at a recent webinar hosted by the London-based Managing General Agents Association (MGAA).…

Conflict between head office and local operations: top ten solutions

Conflict between head office and local operations: top ten solutions

Conflict between head office and local operations: top ten solutions

A global programme needs to resolve a number of areas of conflict resulting from the different requirements of head office and local operations, before it can be successfully implemented. There are however solutions to many of the areas of conflict and compromises that can be acceptable to both sides.

So, what did we learn about cyber risks in 2020?

So, what did we learn about cyber risks in 2020?

So, what did we learn about cyber risks in 2020?

The year 2020 was unlike any other we’ve ever seen. In addition to a global pandemic, unemployment and social unrest, the cyber world experienced significant developments that will impact the years to come. Here are five things we learned… First, ransomware events didn’t slow down in 2020. Instead, things got worse, a lot worse. The market experienced a substantial increase…

Be prepared: the key to IPT compliance for non-traditional covers

Be prepared: the key to IPT compliance for non-traditional covers

Be prepared: the key to IPT compliance for non-traditional covers

Although the insurance industry has a longstanding reputation of being staid and traditional, alternative risk transfer solutions, including the use of captive insurance companies, have been around for many decades. Such solutions have not gone without challenge over the years – one cannot forget the implications of the Spitzer enquiries in the early 2000s as well as more recent challenges…

Employee benefits and people risks – captives adding value

Employee benefits and people risks – captives adding value

Employee benefits and people risks – captives adding value

Adding employee benefits to a captive makes perfect sense, but it is important to get HR onboard, with communication and transparency key. That was the conclusion of a workshop at the Commercial Risk virtual conference ‘Employee Benefits Risk Management 2020 – the importance of collaboration’, with Andrew Bradley, former head of group risk services at Nestlé, and Christian Keller, head…

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