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AM Best: Pandemic-Related Exposures, Market Conditions Create Openings for Captives (AM BestTV)In this episode of AMBestTV marking the start of the Vermont Captive Insurance Association's (VCIA) virtual conference, captive insurance leaders, analysts and regulators say changing business needs and a less-accommodating commercial market are prompting organizations to consider new coverages and strategies for captive insurance companies. Click on http://www.ambest.com/v.asp?v=captives_covid820 to view the entire program. Participants said that due to the impact of the COVID-19 pandemic, the captive industry may see some new opportunities. "The captive industry tends to be very flexible and adaptive," said Ellen Charnley, president, Marsh Captive Solutions. "Things like a pandemic or changes in regulations or the environment often lead to new ways that a captive can be used." "It can very much offer opportunities in response to current market conditions," said Rich Smith, president, Vermont Captive Insurance Association. "As the commercial market is feeling some strains and the reinsurance market is raising its premiums, these situations provide opportunities for captives to step in and respond." Other people that appear in this episode:
Additional coverage of the VCIA's virtual conference, which runs Aug. 11-13, is available at:
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com. Copyright © 2020 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on businesswire.com: https://www.businesswire.com/news/home/20200811005792/en/ |