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Tuesday, December 14 • 3:45pm - 4:45pm
COVID-19 Business Interruption

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One of the greatest strengths of captive insurance companies is the ability to cover perils that are either not available or not affordable in the commercial market.  One key example has been business interruption (BI) coverage associated with a variety of causes of loss, including fire, windstorm, regulatory action, contingent BI, loss of franchise, key employee, or customer, or reputational damage events.  The COVID-19 pandemic has had profound effects on BI coverage.  These have ranged from increased captive claims activity, scrutiny of BI coverage form pandemic exclusions in the traditional and captive insurance policy forms, and a surge in demand for BI related to communicable diseases. All of this has led to a fundamental rethinking of how BI coverage is structured, rated, and reserved in captive insurance companies. In this session we will discuss the impact that we've seen and consider prospective changes to captive BI coverages moving forward.

Learning Objectives:
1. Understand how captive BI polices were impacted by COVID-19
2. Understand how captive BI policies might change moving forward
3. Understand advantages and disadvantages of potential coverage changes

avatar for Nick Gurgone

Nick Gurgone

Consulting Actuary, Pinnacle Actuarial Resources
Nick Gurgone is a consulting actuary with Pinnacle Actuarial Resources in Bloomington, Illinois. He holds a Bachelor of Science degree in actuarial science from Illinois State University. Nick has worked in the property/casualty insurance industry since 2015.  Nick has experience... Read More →
avatar for Jordan Paszek

Jordan Paszek

Consulting Actuary, Pinnacle Actuarial Resources
Jordan Paszek is a consulting actuary with Pinnacle Actuarial Resources. He holds a bachelor’s degree in mathematics from Dominican College and a capstone certificate in actuarial science from the University of Wisconsin. Mr. Paszek has experience with actuarial studies for captives... Read More →

Tuesday December 14, 2021 3:45pm - 4:45pm CST
Grand Ballroom 3 (Renaissance - Lobby Level) 611 Commerce St Nashville, TN 37203

Attendees (8)