Category: Self-Insurance, Captives and Pool Issues

Defining and Modelling Adverse Scenarios for Captive Insurance

Enoch Starnes and Michelle Bradley recently authored an article for Captive International titled “Defining and Modelling Adverse Scenarios for Captive Insurance.” In it, they discuss how new and existing captives must provide adverse scenario modelling as part of their feasibility and application process, but most domiciles do not explicitly outline the specific adverse scenarios that […]

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Improving Captive Analytics Through Claim Lag Metrics

Al Rhodes, Enoch Starnes and Michelle Bradley recently authored an article for Captive International titled “Improving Captive Analytics Through Claim Lag Metrics.” In it, they discuss how understanding early trends in claims data can help organizations stay on top of their risk-related responsibilities. Click to view the article We welcome your feedback by posting a […]

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The Role of an Actuary in Captive Insurance

Michelle Bradley and Enoch Starnes recently authored a piece in Captive Insurance Times' Domicile Handbook Volume 5. In it, they discuss the role of an actuary in captive insurance and why it's important. Read the full piece by clicking the link below and navigating to pages 12-13. Click to read Michelle and Enoch's piece  We […]

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Exploring the Captive's Journey to Operational Efficiency

Al Rhodes recently authored an article for Captive Review titled "Exploring the Captive's Journey to Operational Efficiency”. Co-authors of this article are Jason Flaxbeard and Andrew Golub of Beecher Carlson. In this piece, they discuss how industry practices are changing and evolving and what you can do to stay ahead with a successful captive strategy. […]

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Be Careful What You DON’T Ask For

We rarely have guest bloggers, but today is an exception. I am happy to introduce Bill Wilson (although I believe everyone may already know Bill). I have been working in or around the P&C insurance world for 32 years. Bill is simply a genius. His knowledge and experience far exceed anyone else I have met […]

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5 Straightforward Steps to Starting a Cayman Captive

In the 1993 movie, The Firm, Tom Cruise plays the part of Mitch McDeere, a young lawyer who naively joins a law firm that is less than reputable. Mitch’s adventure leads him to the Cayman Islands, where you are led to believe all “bad” money goes to find a home. This type of representation of […]

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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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