Category: Self-Insurance, Captives and Pool Issues

SIGMA Information for Captives Adopting ASU 2015-09 Disclosures

Summary: The Financial Accounting Standard Board’s (FASB) accounting update related to disclosures about short duration contracts (ASU 2015-09) requires that insurance entities disclose specific information related to the liability for unpaid claims and claims adjustment expenses. This information applies to captive insurance companies. Detailed information regarding the update can be found on the FASB.org website. […]

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Analytics for Non-traditional Captive Risks

After attending the Fall 2015 Hawaii Captive Insurance Council meeting and the Spring 2016 CICA captive meeting, I became increasingly aware of the continued trend of placing non-traditional1 risks in captives. At SIGMA, we are seeing a growing number of captives formed with a sole focus on non-traditional risks. We are also noticing a large […]

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SIGMA's Collateral Survey Results

In the last quarter of 2013, SIGMA Actuarial Consulting Group invited a group of insurance brokers, risk management consultants, and risk management staff of self-funded concerns to participate in a survey regarding collateral. This survey was similar to the ones conducted by SIGMA in 2009 through 2012. The goal of the survey was to assess, […]

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Surplus Policy for Risk Bearing Entities

This blog post addresses the issues of capital adequacy and surplus policy for specialized risk bearing entities (RBE). These can include captive insurance companies, public entity pools, and qualified self insurance plans. The term Surplus is not common among all RBEs. The excess of assets over liabilities is sometimes called Member Equity. The terms Fund […]

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Approaching a Prospect that has a Large Deductible Workers Compensation Policy

I am fortunate to have the opportunity to meet with Powered by SIGMA brokers on a weekly basis as I travel around the country.  My goal is always to make sure I understand the challenges facing PBS brokers and how SIGMA and the PBS resources might best support our PBS members. Topics that are discussed […]

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Special Blog: California Actuarial Requirements

Recent changes in the state of California have prompted us to issue a year-end special blog to all RiskMangementBlog.com subscribers.  This information is critical to brokers and their clients that work in or have operations in the state of California. Effective January 1, 2013, actuarial reports will be a required component of each private self-insurer […]

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Planning for the Variability of Future Losses

Decisions about risk financing are often made using one assumption about the retained losses, or at best, using a range of claims.  Claims costs for future periods are a forecast that will vary to some degree. The amount of that variation is measured by estimating the confidence interval based on the probability distribution calculated from […]

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Captive Assessment Tool

As a follow up to our blog "Q&A with Amethyst" on April 23rd, we promised a Captive Assessment Tool would be added to the portal.  This was completed just in time for the Vermont Captive Insurance Association conference (August 7th – 9th).  If you are going to be attending VCIA’s 2012 conference, please be sure […]

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SIGMA's 2011 Collateral Survey Results

In the last quarter of 2011, SIGMA Actuarial Consulting Group conducted a survey of insurance brokers, risk management consultants, and risk management staff of self-funded concerns to participate in a survey regarding collateral.  This survey was similar to the ones conducted by SIGMA in 2009 and 2010. The goal of the survey was to assess, […]

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Domicile Comparison

A few weeks ago, Al Rhodes and I had the opportunity to meet with several service providers and representatives of the Cayman Island Monetary Authority (CIMA) while visiting the Cayman Islands.  If you have interest in learning more about forming a captive in the Cayman Islands, please contact us and we will help you find […]

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