Research on climate change is ongoing, but risk management evaluation and strategies need to begin now to avoid the consequences of escalating property loss, according to a study by AER and AIR Worldwide.

The National Association of Insurance Commissioners is considering amending the NAIC Model Risk Retention Act to require the states of domicile to follow the NAIC's governance model governing risk retention groups.

When it comes to controlling their total cost of risk, 64 percent of corporate risk and finance managers surveyed said their top concern was their retained cost of claims, including from captives.

In the wake of the financial crisis, the captive industry is running into new stumbling blocks that can triple the time it takes to set up a captive, according to a captive manager here.

The NAIC is considering amending the NAIC Model Risk Retention Act to require the states of domicile to follow the NAIC's governance model governing RRGs, an attorney for a risk retention group association said.

Lloyd's announced it will open a representative office in Russia next year.

Lloyd's Market Franchise Board gave its "in principle" approval for the creation of Syndicate 2015, SCOR announced.

The international markets present a number of opportunities for an industry that is rich in capital and looking for growth, a Guy Carpenter executive said here.