A.M. BestTV: Captives Changing With Market Conditions and Risk Needs

OLDWICK, N.J.--()--In this A.M.BestTV episode, attendees at the Captive Insurance Companies Association's International Conference (CICA) in Scottsdale, AZ, said the flexibility of captive insurance organizations helps them respond faster than traditional insurers in accommodating new risks and market dynamics. Click on http://www.ambest.com/v.asp?v=cica1318 to view the entire program.

The theme for this year’s conference is the challenge of change.

“Captives are in a good position to address change, since they have adapted to all kinds of changing market conditions,” said Nancy Gray, regional managing director, Americas, Aon. “Captives have modified their programs to accommodate hard or soft markets, as well as changing perils.”

Steve Bauman, head of global programs and captive practice, North America, XL Catlin, believes that captives are “steep in being innovative and entrepreneurial and change brings these opportunities, which is what captives thrive on.”

Todd Cunningham, head, single parent and sponsored cell captives, Zurich, North America, addressed how essential it is for captives to stay aware of the changing environments.

“It is critical that captives stay up on data, trends in litigation and weather. These are all areas of change, and it is only natural for captives to be on the cutting edge of these changing environments,” said Cunningham.

For full video coverage of the CICA conference, including exclusive executive interviews, visit http://www.ambest.tv/cica18.

Other people that appear in this episode:

  • Dan Towle, president, Captive Insurance Association;
  • Rich Smith, president, Vermont Captive Insurance Association; and
  • Michael Serricchio, managing director, Captive Advisory Group.

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A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

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Contacts

A.M. Best
Lee McDonald, +1 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com

Contacts

A.M. Best
Lee McDonald, +1 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com