A.M. BestTV coverage of the Captive Insurance Companies Association 2018 International conference
A new program organized under the Captive Insurance Companies Association pairs young professionals with captive insurance professionals in order to teach them about the specialized area of insurance.
Attendees to the Captive Insurance Companies Association's International Conference in Scottsdale, Arizona, said the flexibility of captive insurance organizations helps them respond faster than traditional insurers.
Michael Serricchio, managing director, Marsh Captive Solutions, said recent rule changes mean more captive insurers could be covered for cyberrisk in the event of terrorism.
Michael Corbett, director of captive insurance, Tennessee Department of Commerce and Insurance, said the department is focusing on hiring CPAs and teaching them about insurance.
Nancy Gray, regional managing director, Aon, said areas of expansion for captives include stop-loss and health care issues.
Jason Palmer, head of U.S. captive operations, Willis Towers Watson, expects more cyberrisk to move into captives by the end of the year.
Steve Kinion, director, captive and financial products, Delaware Department of Insurance, wants the National Association of Insurance Commissioner's working group on capital standards to give a prominent role to review work done by states.
John Talley, captive program manager, Missouri Department of Insurance, said the coverage needs for organizations with exposure in a major city would be different than a captive sponsor in a more rural location.
Gary Osborne, vice president, Risk Partners, said better use of cameras, data, GPS and electronic logs should help companies and their risk managers better manage their exposures.
Dan Towle, president, Captive Insurance Companies Association, told A.M. BestTV that the organization's International Conference in Scottsdale, Arizona, drew its second-largest turnout ever.
