AIRROC’s Executive Director, Carolyn Fahey and Steve McElhiney of Artex pen article for Captive International.
COVID-19 has destabilised the global economy and increased risk across all types of business. Run-off solutions can help captives better manage these risks, say Steve McElhiney of Artex and Carolyn Fahey of AIRROC.
The concept of insurance “run-off” or “legacy” business is not new. For decades insurers and reinsurers have effectively used run-off strategies and solutions to manage their discontinued business. They allow insurance companies to create new lines of business to respond to the ever-changing needs of their policyholders.