With the recent multiple CAT events experienced in Florida, Parametric coverage can be a way to provide peace of mind for the financial health of your captive insurance company.
The cyber reinsurance market is evolving significantly in 2024, characterized by growth, increased stability, and adaptation to emerging risks. Here are the key developments:
Captive insurance companies have become increasingly popular among businesses seeking greater control over their risk management and insurance programs. As these captives mature and accumulate surplus funds, organizations are exploring innovative ways to leverage this capital to enhance their overall risk management strategies and financial performance.
Working with their property and casualty insurance broker, C.I. underwrote the policies according to the unique facts and circumstances surrounding the insured’s portfolio and operations. Utilizing C.I.’s turn-key structure, they were able to bind coverage prior to their captive being formed, allowing for them to comfortably make the insurance decision first, and the captive formation process after.
Group Captives provide a lower barrier to entry than a typical single parent arrangement. With the ability to still participate in risk and premium, group captives can be a solution for premium payers of $500k and above.
Heavy CAT losses in 2024 are driving what could be a tumultuous 2025 renewal season.
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