From: Captive Review
Panellists Maureen Hann, Rob Humphries, James Trundle and Kevin Yousif speak at the CICA conference about the trends driving continued interest in property coverage within captives
Coverage gaps in traditional insurance policies and a growing focus on corporate risk governance are increasingly driving companies to place property risks into captive insurance structures.
That was according to panellists Maureen Hann, president of NEU Insurance Services; Rob Humphries, an attorney at Honigman; James Trundle, VP at Global Captive Management; and Kevin Yousif, president of Yousif Capital Management; speaking at the CICA conference yesterday in a session titled ‘Is it the right time to include property coverage in your captive?’
Panellists said captives are not only being used to manage pricing volatility in the commercial property market but are increasingly valued for the control and oversight they provide over risk management decisions.
Captive owner Hann said that while the property market is stabilising after a period of significant disruption, underwriting scrutiny has intensified and insurers are paying closer attention to risk mitigation measures.
“I don’t like to use the word soft market. I would say more stable,” she said. “We’re stabilising in the property market, with greater capacity now and more carriers entering the market.”
