Captives

Hosni Mubarak's resignation as president of Egypt and the subsequent military takeover have brought a measure of stability to the nation, but uncertainty about the future and potential flashpoints throughout the region have insurers casting a wary eye on political risk coverage.

Legislation to update Montana's captive insurance law passed unanimously in the House Business and Labor Committee.

The Captive Insurance Companies Association announced that Michael R. Mead has been named recipient of the CICA 2011 Distinguished Service Award—the highest award in the captive insurance industry.

As the soft market slowly comes to an end, the high rate of survival for risk retention groups bodes well for the RRG marketplace.

With four new RRGs licensed in the first few weeks of 2001, industry professionals have more hope for the market now than they have in recent years.

The former director of the District of Columbia’s captive insurance program will return to D.C. as commissioner of the Department of Securities, Insurance and Banking, starting Feb. 14.