Why risk retention groups are critical for a healthy insurance marketplace
August 11, 2020
by David F. Provost, PropertyCasualty360 The insurance marketplace has evolved significantly over the past several decades. Organizations today have access to many forms of risk transfer beyond the purchase of traditional insurance. The Alternative Risk Transfer market (ART), as it has come to be known, is able to tailor solutions previously unavailable and has become an integral part of the insurance landscape.With COVID-19 and a Hardening Market, Captives Respond to Challenges
July 29, 2020
Captive.com–As with previous commercial insurance market disruptions, captive insurance companies are responding to the current hardening traditional market, according to AM Best. “These companies came into existence because of difficult markets,” said Fred Eslami, associate director at A.M. Best. “Those difficult markets exist right now.” Current conditions will likely result in more new captive insurance companies or parents of existing captives adding coverage lines to the alternative risk transfer vehicles or finding other ways to use them.Why it’s time for the insurance industry to live up to its promise
July 29, 2020
Insurance Business America–If the for-profit world of business is suffering as a result of the coronavirus, you can imagine the toll that the pandemic has taken on non-profit sectors around the world. Volunteering Australia noted that the decline in volunteering during COVID-19, and specifically from February to April this year, has been substantial, with 65.9% of volunteers estimated to have stopped volunteering. Similar trends have been observed in other countries, including Canada, the US, the UK, and across Asia-Pacific.Steven Salar named Chief Risk Officer at Nonprofits Insurance Alliance
July 10, 2020
Security Magazine–Nonprofits Insurance Alliance (NIA) announced that Steven Salar has joined NIA as Chief Risk Officer (CRO) responsible for compliance, risk management, internal audit, employment risk consulting, loss control and member support. Salar has held executive positions at Bank of America, and QBE Insurance Group. He joins NIA during a period of growth for the organization. NIA is a leading P&C insurer exclusively serving 501(c)(3) organizations and has seen a significant increase in new policyholders, in all classes of business, as fewer commercial insurers are willing to insure nonprofits during the current hardening insurance market. “We’re pleased to have Steven join NIA,” says Pamela Davis, founder, president, and CEO of NIA. “This is a very exciting time for NIA as we grow to serve more nonprofits. Steve brings over 25 years of experience leading risk, compliance and claims, and a passion to help build stronger communities.”Nonprofits Insurance Alliance (NIA) Appoints Steven Salar as Chief Risk Officer
July 9, 2020
SANTA CRUZ, Calif.–(BUSINESS WIRE)–Nonprofits Insurance Alliance (NIA) today announced that Steven Salar has joined NIA as Chief Risk Officer (CRO) responsible for compliance, risk management, internal audit, employment risk consulting, loss control and member support. Salar has held executive positions at Bank of America, and QBE Insurance Group. He joins NIA during a period of growth for the organization. NIA is the leading P&C insurer exclusively serving 501(c)(3) organizations and has seen a significant increase in new policyholders, in all classes of business, as fewer commercial insurers are willing to insure nonprofits during the current hardening insurance market.“We’re pleased to have Steven join NIA,” says Pamela Davis, founder, president, and CEO of NIA. “This is a very exciting time for NIA as we grow to serve more nonprofits. Steve brings over 25 years of experience leading risk, compliance and claims, and a passion to help build stronger communities.”