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FOR IMMEDIATE RELEASE
OLDWICK - AUGUST 11, 2020 02:35 PM (EDT)
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:
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