Captives

Bermuda, the worlds leading domicile for captive insurers, will not apply Solvency II equivalency to the captive businesses domiciled there, announced the Bermuda Monetary Authority on Tuesday.

Willis has launched its new online underwriting and data-management system, WillisCaptus, for use by Risk Retention Groups, captives and healthcare providers.

The workers compensation market is proving to be an increasing challenge for insureds and while alternative risk transfer mechanisms may help, close analysis needs to be made before venturing into a program, say executives from insurance broker Marsh.

The years of dominance enjoyed by off-shore captive domiciles may be coming to an end as more captive formations move onshore into the United States and Europe, says a report from the Insurance Information Institute.

Captives are starting to feel the squeeze of market conditions, low-investment yields, and issues in the global-financial markets, according to A.M. Best, which reports that a composite of 209 captives it follows reported a decline in net income for 2011.

Medical Malpractice insurers are struggling against a dwindling client base, a soft market, burgeoning jury awards and new federal health-care regulations as they try to retain current business and attract new clients.