Vermont increased its number of captive-insurance companies in 2011 from the two previous years as the state continues to see growth in that industry, capturing six captives that were domiciled elsewhere.

The reinsurance industry this past year weathered near-record catastrophe losses, catastrophe-model changes and the pressures of a challenging macroeconomic environmentbut unlike 2005, reinsurers were prepared in 2011, according to a report by Guy Carpenter.

An increasing emphasis on enterprise-risk management in the corporate world is reflected in the higher-education sector, with more courses and research exploring the concept at universities with established RM programs.

In the world of reinsurance, accurately determining risk is critical. Reinsurance policies are typically taken out on the largest of risks, those that are too big for an individual insurance company to handle alone. Risk embodies the very nature of the business, and actuaries who work in reinsurance must therefore...