Hard Market Hikes Friction With Fronts

As the insurance market hardens, captives and the carriers that sometimes “front” for them are increasingly at odds, experts on the front lines say.

Not only are captives being socked with rising fronting fees (see National Underwriter, July 2, page 23), they also are reeling from the deletion of coverages and even non-renewal of their policies, according to Brian C. Donovan, president of Steel Tank Insurance Company, a captive insurer with offices in Chicago and Burlington, Vt.

As pointed out by Michael R. Mead, president of M.R. Mead & Company, LLC, and chairman of the Minneapolis-based Captive Insurance Companies Association, “risk-sharing is a commodity like anything else.” M.R. Mead is a Chicago-based intermediary that forms and manages captives, principally offshore.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.