The Captive special interest group seminar was hosted at Devereux Chambers and Richard Harrison supported the Seminar. Richard is a Barrister who is ranked as a leading junior for Insurance and Reinsurance in both Chambers UK Barrister and who works closely with Mactavish.
A wide range of FTSE 250 clients with complex risks and significant captive arrangements attended the seminar.
The Insurance Act includes a number of difficult and nuanced challenges for all parties, and requires a fundamental rethink of how best practice is achieved on all sides of the insurance equation.
This discussion covered:
- The risks, responsibilities and opportunities for captives;
- Guidance to help protect the captive’s “substance” as an insurance vehicle in respect of the risk of fiscal authority challenge;
Information to help ensure reinsurance recoveries are not endangered through a lack of robust process / governance.