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A.M.BestTV: Captive Industry Deals With "Explosion of Domiciles"


CONTACTS:


Lee McDonald
Group Vice President, Publication and News Services
(908) 439-2200, ext. 5561
lee.mcdonald@ambest.com


FOR IMMEDIATE RELEASE

OLDWICK - AUGUST 14, 2014 02:18 PM (EDT)
This episode of A.M.BestTV wraps up the second day of the annual Vermont Captive Insurance Association (VCIA) Conference, which brings together brokers, consultants, insurers, captive owners and managers to discuss alternative risk transfer. In this episode, regulators and industry experts say that significant growth in the captive industry, along with the growing number of U.S. states competing for captive business, means more options exist; however, they worry it could lead to inconsistent regulatory oversight.

At the conference, it was stated that Montana now has 150 captives; North Carolina, nine and New Jersey, 17, and all are steadily growing. With this in mind, Fred Eslami, senior financial analyst for A.M. Best stated that with the explosion in captives (as more than 35 states currently have captive laws), A.M. Best is concerned that this could lead to a downturn in regulatory oversight, which would be detrimental to the industry.

Click on http://www.ambest.com/v.asp?v=vcia2814 to view the video program. Full conference coverage can be seen at http://www.ambest.tv/vcia.

Other people who appear in this episode include:


  • · Peter Willits, President, Liberty Mutual Management;

  • · Debra M. Walker, CPA, Director of Captive Insurance, North Carolina Department of Insurance;

  • · John Talley, Chief of Captive Insurance, New Jersey Department of Banking and Insurance;

  • · Steven Matthews, Captive Coordinator, State of Montana; and

  • · Fred Eslami, Senior Financial Analyst, A.M. Best Company


Full-length interviews from day two of the event also are available for viewing:






Recent episodes of A.M.BestTV include:


  • · Captive Leaders Fret About "Regulation by Accident" At the Annual Vermont Captive Insurance Association Conference: Participants say that the Non-Admitted and Reinsurance Reform Act is causing confusion in the captive industry. Small captives also face scrutiny from tax authorities and regulators, according to Meg Green of A.M.BestTV: http://www.ambest.com/v.asp?v=vcia1814.



  • · First Monday: Leading Analysts, Key Topics: A look at rising investment allocations to Schedule BA assets among U.S. property/casualty and life/annuity companies; the U.S. captive composite's continued outperformance over its commercial peers and the potential impact of Mexico's approaching risk-based solvency regime: www.ambest.com/v.asp?v=firstmonday814.


A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at www.ambest.tv.

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source.