The coronavirus pandemic has disrupted routines, lifestyles and business operations around the world. Company’s risk profiles have altered significantly, their business models have pivoted, and their insurance requirements and priorities have changed overnight in many circumstances.
In the long term, some commentators expect to see a fundamental shift in the way insurance coverage is structured and purchased, with captives and national risk pools playing an increasingly prominent role. In the short term, however, insurance programmes, captives and the wider industry have faced immediate and varied challenges, and the Global Captive Podcast has been determined to report on these changes and developments as they take place.
In March we launched a COVID-19 series covering captive topics from potential claims activity and disputes to the impact on employee benefits programmes and captive investment portfolios. Below you can listen to the full GCP COVID-19 series on the website, or link to the relevant episodes on iTunes and Spotify.
24 / 03 / 2020
Coverage issues, claims activity and potential disputes
In the first of GCP's Covid-19 Captive Series, Richard is joined by Joseph Holahan, Of Counsel at Morris, Manning & Martin in Washington DC, and Peter Halprin, Partner at Pasich LLP based in New York, to discuss the relevant coverage in the face of the global pandemic, the claims activity which is beginning and the potential disputes down the line.
27 / 03 / 2020
How captive assets are exposed and what to do next
Richard is joined by three experts from London & Capital to look at the impact on investment management portfolios - Sanjay Joshi, Roger Jones and Chris Dalziel. They outline what asset classes a captive insurer may be exposed to in their portfolio, walk us through the state of the markets and what steps captive insurers need to take next as they consider their investment positions.
31 / 03 / 2020
The impact on captive boards, economic substance and tax considerations
Richard is joined by industry leaders and regulators from Vermont, Cayman and Guernsey to discuss how the business of board meetings, good governance and substance requirements are being impacted the restriction on travel. EY’s Jenny Coletta also provides insight on the tax and compliance implications this may have for offshore captives.
09 / 04 / 2020
Implications for international employee benefit programmes
Mark Cook, Director at Willis Towers Watson, joins Richard to discuss the types of policies that are likely to be impacted by the global pandemic, the exclusions insureds need to be mindful of, the flexibility that captives can provide and the balance multinationals are having to strike between looking after their staff while managing exposure to the captive.
16 / 04 / 2020
Extracting captive capital to support parent cash flow
As the global economy take a steep downturn, many businesses are beginning to experience cash flow trouble and the captive, if executed correctly and in the right circumstances, can release capital on a short or long-term basis through various techniques. Pete Kranz, of Beecher Carlson, and David Provost, at the State of Vermont, outline what some of the options are to do this, and highlight important regulatory considerations.
20 / 05/ 2020
THE ROLE FOR CAPTIVES IN FUTURE PANDEMICS
Michael Serricchio and Lorraine Stack, of Marsh Captive Solutions, explain how the captive can be used to identify, quantify and insure related risks and then access the reinsurance and alternative markets. They also discuss how captives could utilise any government-backed pandemic risk pools that may be established in the future.