Responding to the growing demand for alternatives to the unreliable commercial insurance market, the tiny European nation of Freedonia opened its doors on April 1 to self-insured captives from all over the world.
Freedonia is the latest in a series of domiciles, both on-and off-shore, to establish a haven for risk managers fed up with cycles and unreliable carriers in the standard commercial lines market.
Industry analysts immediately praised the newest participant in the captive game, contending that the more alternative risk-transfer options a risk manager has, the better.
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