Social media may provide an ideal avenue for risk managers and others in the industry to ask questions, collectively solve problems and tap experts for advice around the complicated issue of captives.
Chris Kramer formed "The Captive Insurance and Risk Retention Network" in 2008 on LinkedIn, the popular professional-networking site. He did so, he says, "based upon my perception that getting access to the people and resources required to study or form a captive or RRG was limited."
Kramer, director of marketing/captives with ULLICO Casualty Group Inc., notes sizable growth in new members to his discussion site since January, with an average of 25 new members each week in 2011.
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