From: Captive International
Increased “bravery” among captive owners is seeing corporates becoming more ambitious in their use of the vehicles, according to Ciaran Healy, director of client solutions for EMEA at Aon Captive & Insurance Managers.
“I’m seeing a lot more bravery among captive owners recently, and that’s really healthy,” he told Airmic’s recent Captives Forum. Captives could even be used to test new coverages, he suggested.
“We can use the captive as a way to drive some of the changes that we need to see,” he said. “The risk register is changing to the extent where insurability is being diminished. Let’s use the captive, in conjunction with insurers, as the incubator to prove the underwriting concept. We can work with insurers to create the market.”