A.M. Best Releases Video Coverage, Transcript of Webinar on Captive Insurance Issues.OLDWICK, N.J. -- A.M. Best Co. has released video and a transcript A generic term for any kind of copy, particularly an official or certified representation of the record of what took place in a court during a trial or other legal proceeding. A transcript of record of the July 31 webinar presented by A.M. Best analysts on the state of the U.S. and world captive insurance Captive insurance companies are limited purpose insurance companies established with the specific objective of financing risks emanating from their parent group or groups, they sometimes also insure risks of the parent company's customers. industry. John Andre and Steven Chirico of A.M. Best's property/casualty rating division led the one-hour webinar and were joined by Chris Mancini of Captive captive said of naturally wild or feral animals kept in captivity for educational and scientific investigation with no attempt being made to domesticate them. .com. Andre and Chirico also addressed many questions and comments posed by webinar participants. The analysts also touch on trends in reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. and commercial coverage. Access to the webinar video and transcript is free; visitors are required to provide an email address See Internet address. to access the presentations. A captive insurance organization insures some or all of the risks of its parent organization. Captives are a significant part of the growing Alternative Risk Transfer (ART) insurance sector in many nations and U.S. states A U.S. state is any one of the fifty subnational entities of the United States, although four states use the official title "commonwealth". The separate state governments and the federal government share sovereignty, in that an American is a citizen both of the federal entity and . Despite softening softening /sof·ten·ing/ (sof´en-ing) malacia. softening a change of consistency, with loss of firmness or hardness. commercial market conditions, captives remain integral to a comprehensive insurance solution for scores of both single parent and group owners. A.M. Best rates many captives throughout the world. The special report that was the focus of this webinar examines trends in premium volume, loss reserves and admitted assets for A.M. Best-rated, U.S.-based captive organizations. To access the webinar video and transcript, visit http://www.ambest.com/multimedia/captivewebinar08.html. In August, Best's Review magazine published a special section: Issues & Answers: Captive Domiciles and Services. That edition is available at http://www.bestreview.com/captives08.html. Updated methodologies and other information on A.M. Best's coverage of the captive insurance industry are available at A.M. Best's online captive center, at www.ambest.com/captive/. Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com. |
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