Captive Insurance

11th – 12th April, 2017
Sydney, Australia

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About the Event

Captive Insurance Course will provide/equip you with the practical knowledge on how to establish, operate and manage captives. It is intended as an introduction for insurance and reinsurance experts, who would like to better understand captive mechanism. The course will help give one better understanding of the insurance terminology and concepts, including how to form and operate a captive insurer; explain the benefits of a captive insurer as a risk-financing tool; reasons for considering different location being chosen, tax implications for them and different types of captives that applies; and identify situations in which a captive insurer can meet an insured’s specific needs, such as underwriting a unique risk or participating in a multinational insurance program.

This Course will address the new and emerging risks and demonstrate how captives can offer solutions that may not be available in the traditional marketplace.

Learning Objectives

  • Form a captive
  • Investigate domicile as well as global opportunities
  • Benchmark your captive
  • Maximize captive ROI
  • Ensure regulatory/tax compliance
  • Manage your captive through its lifecycle
  • Reduce costs with risk pooling
 

KEEPING UP WITH THE INDUSTRY’S VIEWS

Significance of Feasibility Study in Formation of Captives

Posted on: 22 February 2017 

A captive feasibility study serves as the blueprint for future captive which identifies the purpose and structure of the captive, and fills in many of the details that business plan will require. The Captive feasibility study covers identification of company’s main goals for risk management, Examination of existing insurance aiming towards gaps in coverage and the type to captive best to address those gaps, reviewal of previous losses & claims, exploration of domiciles suitable for the proposed captive, evaluation of the startup costs & annual operating expenses of the proposed captive in the proposed domicile, construction of a detailed cost-benefit analysis, preparation of financial projections for various scenarios, Investigation of tax implications and uncertainties of the proposed captive, explanation of reinsurance and pooling aspects if applicable, etc.

Therefore, conducting a feasibility study is vital, for determining if a company should form a new captive or join an existing one. This can be done by studying the risk retention ability of the current program, comparing all the risk finance alternatives that might be used, examining the expected results over time with best- and worst-case financial pro forma statements. To manage these complex situations effectively and to ensure that business needs are met, it is essential for professionals from the insurance, risk management, and captive industry to update themselves on the proven strategies.

To address complex & challenging captive issues, the Captive Insurance Course will be held to proffer in-depth knowledge about the feasibility study, i.e., establishing core objectives, data collection, program design, regulatory, and other key elements of a Captive Feasibility Study.

Captive Insurance Course, schedule on 11th-12th April 2017 in Sydney, will provide the attendees with all the information and practical strategies on how to establish, operate and manage the various captive insurance. The outline of this programme is specially drafted to act as an informative platform for  insurance, reinsurance and risk management professionals who would like to have a better understanding of the captive mechanism.

To reserve your spot for Captive Insurance Course: Click here

Managing Cyber Risk: New Entrant Cyber Captive Programme

Posted on: 6 February 2017 

As reported by a latest research, the number of captive insurers writing non-traditional risks such as cyber liability, supply chain, and political risk rose extensively. Based on the data from 1139 captives, the study finds most companies (54%) cited increased discipline and control purposes as the reason for using captives. Captives are providing access to more comprehensive cyber coverage and higher limits. Comprehensive risk transfer option that can access through a captive—identifying, assessing and quantifying cyber risk.

Identifying important issues and threats for Multinationals, Director, Officer, and the Head of Char Hamilton Yoshida & Shimomoto’s Insurance Regulatory Group, at the Captive Insurance course scheduled on 11-12 April, 2017 in Sydney will provide practical knowledge on establishing, operating and managing captives that will further help give a better understanding of the insurance terminology and concepts, including how to form and operate a captive insurer; explain the benefits of a captive insurer as a risk-financing tool; reasons for considering different location being chosen, etc.

Captive Insurance course will address the new and emerging risks and demonstrate how captives can offer solutions that may not be available in the traditional marketplace.

To reserve your spot for Captive Insurance Course: Click here

Significance of Feasibility Study in Formation of Captives

 

Some of the most common mistakes made during captive feasibility study that must be addressed are issues including underestimation of future losses, overestimation of investment income, unrealistic operating expense expectations, and incomplete analysis of tax issues at state and local levels.

Therefore, conducting a feasibility study is critical, for determining if a company should form a new captive or join an existing one. This can be done by studying the risk retention ability of the current program, comparing all the risk finance alternatives that might be used, examining the expected results over time with best- and worst-case financial proforma statements, and state tax impact and domicile options. To manage these complex situations effectively and to ensure that business needs are met, it is essential for professionals from the insurance, risk management, and captive industry to update themselves on the proven strategies.

To address these issues, the Captive Insurance Course will be held to cover in detail about the feasibility study, i.e., establishing core objectives, data collection, program design, regulatory, tax and legal analysis, and other key elements of a Captive Feasibility Study.

Captive Insurance Course, scheduled on 11th-12th April 2017, will provide the attendees with all the information and practical strategies on how to establish, operate and manage the various captive insurance. The outline of this programme is specially drafted to act as an informative platform for insurance, reinsurance and risk management professionals who would like to have a better understanding of the captive mechanism.

 

Introduction and Emerging Trends in Captive

  • What is captive/captive insurance?
  • Captive Insurance History
  • Growth of Captive since
  • Objectives of a Captive
  • Who Qualifies?
  • Does a Captive Make Sense for you?
  • What is a Micro-Captive?

Why Form a Captive?

  • Why companies form captives? What kind of Risk can be underwritten?
  • Why is it important to you?
  • 3 Models for Retained Risk Financing
  • Benefits of forming a Captive Insurance

Advantages and Disadvantages of Captive Insurance

  • Advantages of Captive Insurance
  • Disadvantages of Captive Insurance

Role of a Captive Manager

  • Key responsibilities of a captive manager
  • Important considerations when selecting a captive manager

Types of Captives

  • Single Parent (or Pure) Captive
  • Group Captive / Association Captives
  • Risk Retention Groups
  • Reciprocal Insurer
  • Rent-a-Captive
  • Sponsored Captives, Segregated Cells and Protected cells
  • Agency Captive/Branch Captive
  • Captive Domiciles
  • Selecting a Captive Domicile

Types of Captive Utilization

  • Retained Risk Finance
  • Risk Transfer Rate Arbitrage
  • Access to Capacity
  • Entrepreneurial Utilizations

Insurance Program Structure

  • Direct (Insurance vs. Non-Insurance)/Fronted (Services and Security)/Reinsurance

Lines of Coverage

  • Traditional vs. Expanded vs. Emerging—Insuring diverse risk

Tax Considerations and Regulation of Captives

  • Tax status of Captives. How is the Captive taxed?
  • Are premiums deductible to insured? What premium tax applies?
  • Area of caution and the grey area…

Captive Feasibility Study (CFS)

  • Overview of the market today: Captive Insurance
  • What are the key elements of a Captive Feasibility Study

Feasibility Study

  • Establishing Core Objectives
  • Data Collection
  • Program Design
  • Actuarial Analysis
  • Offshore vs. Domicile Selection—What to consider?
  • Regulatory, Tax & Legal Analysis

Research and Gather Information

  • Underwriting information to determine proposed captive’s financial viability, reviewing financing, commitment and objectives
  • Determining level of risk retention and sufficient premium volume

Due Diligence and Decision Making

  • Role of service provider—Auditors, Actuaries, Legal Counsel, Bankers, Resident Directors

Organization and Licensing

  • Whats involved in managing a Captive? Risk associated with forming and operating a Captive.

Reinsurance for Captives

  • Functioning of a typical captive reinsurance situation
  • Benefits of having a reinsurance captive

Winding Down a Captive

  • Run-off
  • Novation
  • Commutation

  Course Leader

Our Course Leader is Director, Officer, and Head of Char Hamilton Yoshida & Shimomoto’s Insurance Regulatory Group in Honolulu, Hawaii, which represents a significant number of captive insurance companies (“captives”) and risk retention groups (“RRGs”) licensed in the State of Hawaii. As one of the pioneers in licensing the first captive in Hawaii in 1987, he remains active in the formation and ongoing representation of captives and RRGs and handles other insurance regulatory matters in the State of Hawaii. He has been a regular speaker on various local, national, and international related conferences and events.


Click Here to Register for the Course

Register 3 Send 4th One Free

Register 3 Send 4th One Free Any organization wishing to send multiple attendees to this course may send 1 FREE for every 3 participants registered. Please note that all the 3 participants must register at the same time to avail this benefit.

Regular Price: AU $1299

Register 3 Send 4th One Free Any organization wishing to send multiple attendees to this course may send 1 FREE for every 3 participants registered. Please note that all the 3 participants must register at the same time to avail this benefit.

Note: All payments are made in Australian Dollar.
Registration fee only covers cost of all sessions, luncheon, coffee/tea & presentations. Fee does NOT include any travel or accommodation expenses. Fee is not inclusive of 5% Admin/Bank Charges.

Venue:

Pullman Sydney Hyde Park
Address: 36 College St, Sydney NSW 2010, Australia
Phone: +61 2 9361 8400
Website: Pullman Sydney Hyde Park

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