RRGs: JUST WHAT THE DOCTOR ORDERED Flexible and focused, risk retention groups meet risk financing needs across a range of industries By Michael J. Moody, MBA, ARM The insurance industry historically has been known for its “up and down” pricing model. Many referred to this as the “seven-year pricing cycle.” Often you could set your watch by where the cycle was at any given time. A game-changing situation arose during
Alternative Risk Transfer
CAPTIVES FOR COMP An expert weighs the pros and cons of this strategy and discusses the pandemic’s impact on comp coverage By Elisabeth Boone, CPCU Amid the turmoil brought on by the COVID-19 pandemic, high unemployment, and the murder of George Floyd, businesses continue to seek ways to deal with ongoing and new challenges. One of these is workers comp insurance, and an expert in that field is Frank Pennachio,
CYBER RISK: A CAPTIVE APPROACH Smaller businesses—not just large corporate entities—can reap the benefits By Michael J. Moody, MBA, ARM Emerging risks have always been a challenge for the property and casualty insurance industry. Staying out in front of these new and evolving risks has proved problematic in the past. Take cyber risk as a case in point. Among the many difficult challenges are the lack of consistent coverage and
CAPTIVES: 2019 AND BEYOND Opportunities abound for mid-market agents and brokers By Michael J. Moody, MBA, ARM Recent years have seen a renewed interest in captive insurance company formations. Despite a continuing soft commercial insurance market, captive formations continue to increase. To be sure, this risk financing alternative has been in use for decades. Historically captives were used by Fortune 500-type corporations. This began to change in the late 1970s
Captive insurance arrangements generate buyer interest,agent opportunities Despite the soft insurance market and numerous industry challenges, captive insurance companies continue to gain interest from buyers. Over the past three decades, in fact, group captives have become a mainstay of the commercial insurance market. According to experts, a number of factors are contributing to the increased use of and reliance on captives, particularly among middle market buyers, who are showing the
