Captives boosted by TP digital risks

The number of captive insurance companies writing third-party business is growing at double-digit pace as the digital era expands the way organisations deliver insurance solutions, according to data from Marsh.

According to the report, 22% of Marsh-managed captives wrote some form of third-party business in 2018, representing a y-o-y increase of 12% and a 62% increase over the last five years. In particular, coverage for contractor, vendor, and customer risk continued its steep growth trajectory, increasing 138% among Marsh managed captives in the past five years. In 2018, Marsh captives writing such third-party risk generated a total of US$162 million in net premiums.

Likewise, Marsh-managed captives wrote more than US$3bn of net premiums for extended warranty coverage in 2018. The number of Marsh captives writing such coverage, which protects a variety of assets from computers to automobiles, increased 22% over the last five years.

    Share Story:

YOU MIGHT ALSO LIKE


The Future of Risk & Resilience with AI & Data
CLDigital's Co-Founder, Tejas Katwala, joins CIR Magazine to discuss how CLDigital is transforming enterprise risk and resilience. By integrating business processes, AI and data-centric strategies, organisations can move beyond compliance to proactive risk management – simplifying operations, strengthening resilience, and driving business performance. Listen now to explore the future of intelligent risk management.

Investec is disrupting premium finance – Podcast
Investec made waves in entering the premium finance market, where listening and evolving in response to brokers made a real difference.

Advertisement