Category Archives: 2019 Articles

Sedgwick highlights industry trends for 2019

MEMPHIS, Tenn., Jan. 15, 2019 — Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, today published its “Forward thinking 2019” list, which includes major industry trends employers and risk management professionals should watch this year.Pres Press Release In 2019, Sedgwick is also celebrating its 50th anniversary. In honor of this

NOTE FROM PUBLISHER

“ANY SUFFICIENTLY ADVANCED TECHNOLOGY IS EQUIVALENT TO MAGIC.- ARTHUR C. CLARKE.”  It is an incredibly interesting time to be on the planet. In the past (very) few years, conversations around board room tables and dinner tables alike have drastically changed, as collectively our reliance upon, familiarity with, and understanding of more complex technology has taken

INNOVATIVE USES OF CAPTIVES AND HOW MANAGERS ALONG WITH THE REGULATORS NEED TO MOVE WITH THE TIMES

Captive insurance companies and insurance management firms have been around since the 1960’s and began life offshore primarily because of the onshore regulatory burden and the cost of operating domestically in the US. Cayman’s entry into the market occurred in the 1970’s after identifying a gap in the market and taking the innovative step of

TRANSPARENCY AND PRIVACY A DELICATE BALANCE

Battle lines have been drawn between the UK and its Overseas Territories, placing the Cayman Islands on a potential collision course with its parliamentary overlords, over the long running issue of beneficial ownership and how interests are reported and disseminated under local law. When the UK moved forward the concept of public beneficial ownership registers

CAPTIVE INSIGHT PROFILES ERIN BROSNIHAN

CHAIRPERSON OF THE INSURANCE MANAGERS ASSOCIATION OF CAYMAN As the Insurance Managers Association of Cayman adopts new branding for international marketing as Cayman International Insurance, it’s the same organisation working behind the scenes to represent the interests of the industry. IMAC Chair Erin Brosnihan speaks to Captive Insight. With close to two decades of experience

BANKING ON CHANGE

If there is one thing the pundits can agree upon about crypto currencies, it’s that they’re risky. And where there’s risk, there’s an opportunity for insurance against that risk. And where there’s a need for insurance there’s an opportunity for a captive. One other thing upon which almost all are agreed – is that crypto

REGULATION IN CAYMAN ON THE RECORD WITH CIMA

To understand how Cayman’s financial regulatory body CIMA is balancing its supervisory role while supporting industry efforts to broaden the international insurance industry in the Cayman Islands, Captive Insight spoke with Ruwan Jayasekera, Head of CIMA’s Insurance Supervision Division. Ruwan Jayasekera: One of the key pillars and a precondition for effective insurance supervision is the

US TAX REFORM: HOW HAS IT IMPACTED THE CAYMAN CAPTIVE INSURANCE INDUSTRY?

INTRODUCTION Last December the US government significantly altered the Internal Revenue Code (“IRC”) which drastically changed how businesses and individuals are taxed. Many provisions are still being clarified today through Treasury Regulations and other forms of IRS communication. This piece focuses on how the law changes have impacted the captive insurance industry here on island.

HOW TO RUN A SUCCESSFUL RISK POOL

“The pooling of risk has been around for centuries. This concept, which entails organisations sharing – and thus, spreading – risk, is often considered to be the primary reason that insurance even exists at all. But in order to better ensure success when participating in a risk pool, there are several concepts that should ideally

EMPLOYEE BENEFITS AND CAPTIVES

Raise your hand if the subject of employee benefits coverage has come up during your captives Board of Directors meetings in the last few years? Although this field is highly specialised and should always be considered in conjunction with the entire portfolio of enterprise risks within your organization, we will attempt to outline the basics