Bermuda
After weathering the financial disaster and seeing a growing interest in captive formations, the alternative risk-transfer industry has hit new stumbling blocks that can triple the time it takes to set up a new facility, according to a leading player in the ART market.
Gary Osborne, president of USA Risk Group in Montpelier Vt.–speaking to National Underwriter here during last week's Bermuda Captive Conference–said that single-parent captives, which used to take 30 days to form, generally require at least double the time now, while more complex captives can take much longer.
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