Beyond Bermuda
Article Abstract:
Fred M. Reiss, founder and chairman of the Reiss Organization, is optimistic about the future of the captive insurance market. The United States government will have to encourage the formation of captives with deductible premiums if corporations are to modernize and grow. Reiss began the captive movement in 1958 to help corporations creatively meet their insurance needs. His initial company, American Risk Management Inc. (ARM), currently with 140 clients, is now only part of a vast empire. Trade associations have also been added recently. Reiss established off-shore subsidiaries to handle multinational clients affected by change in tax laws. Bermuda was chosen due to favorable legislation and is now an insurance center. Reiss Organization views reinsurance as the key to successful captive management. Reiss established reinsurance vehicles, Hopewell International and United Insurance Co. Ltd., offshore, and Delta Holding Inc. in the United States. Reiss feels that the United States government must encourage deductibility of captives. Insurers must compromise if current bills before the House Ways and Means Committee are to pass. Insurers must pledge to reinvest in United States bonds.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1984
User Contributions:
Comment about this article or add new information about this topic:
NAPSLO Annual Meeting
Article Abstract:
Wholesale brokers at the annual meeting of the National Association of Professional Surplus Lines Offices (NAPSLO) expressed great concern over the financial health of major carriers. A panel discussed asbestos and toxic hazards. Increased litigation costs were projected for asbestos related claims. Another panel discussed the need for a partnership between wholesale brokers and carriers. Products must be processed less expensively at higher underwriting standards.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1984
User Contributions:
Comment about this article or add new information about this topic:
Beyond communication: investment education for the long run
Article Abstract:
Employers should go beyond the mere communication of provisions of Section 404(c) of the Employee Retirement Income Security Act that deals with standards that have to be met to qualify for relief-from-liability privileges. Employees would benefit more from an education program that informs them of the consequences of the ERISA provisions and trains them to make wise investment decisions.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Moving beyond the learning curve. Insurance calling
- Abstracts: The Use of Value Added. Accentuating the Positive. Agency acquisition: the value of amortizing expiration lists
- Abstracts: Collision Course. Applying change leadership course skills. Industry pricing fundamentals stay on course