A.M. BestTV at VCIA: Traditionally Low Profile, the Captive Sector Draws Increasing Scrutiny
OLDWICK, N.J.--(BUSINESS WIRE)--Aug 8, 2018--In this A.M. BestTV episode from the annual Vermont Captive Insurance Association (VCIA) conference in Burlington, VT, executives say captive insurers are drawing increased attention from regulators, tax authorities and their own sponsors.
Click on http://www.ambest.com/v.asp?v=vcia1818 to view the entire program. For full video coverage of the VCIA 2018 conference, including exclusive executive interviews, visit http://www.ambest.tv/vcia18.
Rich Smith, president of the VCIA, said states are changing the way they look at and value captives.
“States are looking at captives a potential way to grow their tax base, which would be fine if they were treating captives fairly,” said Smith. “I think the problem is what we are seeing is that some states are utilizing their insurance and tax laws in a way that really don’t comport to a growing, thriving captive industry.”
Julie Boucher, U.S. captive practice leader at Marsh, noted the increased scrutiny on captives coming from many fronts.
“There are more and more parties that want to become involved in how a captive operates, what it does, what it is not allowed to do and to try to render some type of judgment on captives,” said Boucher.
Also appearing in this episode:Carol Frey, vice president, Great American Insurance Group; and Dan Towle, president, Captive Insurance Companies Association.
Other VCIA-related episodes of A.M. BestTV include:Rated Captive Insurers See Strong Performance Compared With Commercial Peers: A.M. Best Associate Directors Susan Molineux and Fred Eslami say the performance of rated captive insurers once again outperformed their counterparts in the commercial casualty segment: http://www.ambest.com/v.asp?v=vciaadvance818. Rated Captives, RRGs Hold Their Own in Competitive Market: Highlights of an A.M. Best webinar on the captive insurance industry include participants discussing pricing trends, plentiful capacity how risk retention groups have fared in the competitive market: http://www.ambest.com/v.asp?v=captivehighlights818.
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KEYWORD: UNITED STATES EUROPE NORTH AMERICA NEW JERSEY
INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE
SOURCE: A.M. Best
Copyright Business Wire 2018.
PUB: 08/08/2018 02:42 PM/DISC: 08/08/2018 02:42 PM