With a 14 percent increase in captive registrations in 2021, recent legal activity reveals the importance of structuring and implementing captives correctly.
The U.S. Department of Transportation has proposed a rule that would codify language around canceled or delayed flights to create more consistent refund rules airline-to-airline.
"If there's a direct-hit Category 5 storm that hits Miami, you're going to see 20 insurance companies go bankrupt and are not going to be able to pay claims. It's become a big problem," said South Florida insurance broker Joseph Gendelman.
The drought comes alongside a multi-month heatwave – the two elements combining to create the hottest, driest summer in the 61 years the government has recorded such data.