"Captives enable organizations of all sizes to better manage their costs and take greater control of their insurance programs, which is making them a hugely popular risk financing mechanism in today's challenging insurance market," said Ellen Charnley, president of Marsh Captive Solutions. (Credit: OpturaDesign/Shutterstock.coms)
In 2020, captive insurance entities were created at a rate well above historic norms, according to Marsh, which reported it had more than 100 clients form captives during the period.
Pandemic-driven disruptions, record natural catastrophe frequency and liability claims inflations, which have each increased risk transfer costs, are making captives more attractive options, the insurance broker and risk advisory firm reported.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
