Tag: 上海不准不开心网

Vermont Captive Insurance licenses exceed 40 for sixth year

No Comments

first_imgFor the 6th year Vermont surpassed the 40 new captives licensed mark with 41 new captive insurance companies in 2011 bringing the total number of licenses to 952, according to data released by the Vermont Banking, Insurance, Securities and Health Care Administration (BISHCA).Thirty were single parent captives, with six risk retention groups (RRG), three sponsored, one industrial insured, and one association. 2011’s new captive insurance licensees brings Vermont overall total to 952 with 590 active captive insurance companies.‘One of the most exciting aspects of 2011 and a perennial key to our success is the high quality of companies that we are privileged to work with,’ said David Provost, Vermont’s Deputy Commissioner of Captive Insurance.  ‘We’re also seeing the State’s continued investment in staff helping us continue to provide outstanding customer service.  That’s very much a part of what keeps Vermont the Gold Standard.’Despite the soft market each quarter of 201l had steady growth.  ‘This strong year is testimony to our continued commitment to maintain Vermont’s reputation as the Gold Standard of domiciles,’ said Governor Peter Shumlin.  ‘While other states continue to falter, Vermont’s stability and support has never wavered. We will continue to address the needs of the industry going forward and will not rest on our laurels.’The top industries licensing captives in the past year in Vermont were insurance, hospitals and medical groups and manufacturing.  Vermont was also busy with activity in risk retention groups which continue to be a growth sector.‘Vermont is the leader in RRG’s and that trend has been a constant. Another area of growth has been in redomestications of existing captives from other states and jurisdictions.  We continue to hear that Vermont provides the greatest value for your captive insurance company,’ said Daniel Towle, Director of Financial Services.  As 2012 begins, two new captives have been licensed and there are already four applications pending according to Towle.  ‘The overall market may be soft, but it is also very dynamic and we expect good things to come from 2012.’Captive insurance is a regulated form of self insurance that has been around since the 1960’s, and has been a part of the Vermont insurance industry since 1981, when Vermont passed the Special Insurer Act.  Captive insurance companies are formed by companies or groups of companies as a form of alternative insurance to better manage their own risk.  Captives are typically used for corporate lines of insurance such as property, general liability, products liability, or professional liability.   Growth sectors of the captive insurance industry include securitization, professional medical malpractice coverage for doctors and hospitals, and the continued trend of small and mid-sized companies forming captive insurance companies.Montpelier, VT ‘ January 10, 2012 ‘ www.vermontcaptive.com(link is external)last_img read more

Fernandes vows to fight fine

No Comments

first_img Earlier this year Rangers recorded a loss of £65.4million for the period ending May 2013. Clubs are only entitled to be no more than £8million in the red under FFP rules. However, Fernandes has been seeking legal advice and has confirmed he will fight the sanctions in court. “Will we fight the fine?” said the Malaysian entrepreneur. “What do you think? After all we’ve been through, it’s my middle name – ‘Fight It’ Fernandes. “My view has been consistent, that it is very unfair for a club that has been relegated as the wage difference between the Premier League and Championship is impossible. There should be a time period for clubs to rectify their salaries. “If we were in the Championship in two years with that wage bill it wouldn’t be right. I’m in favour of FFP but it is unfair for a club coming down.” QPR will not be punished for their financial results during the 2012-13 season, when they were in the Premier League, but they will for the current campaign – during which they have carried a debt of £177million and a wage bill larger than that of Spanish champions and European Cup finalists Atletico Madrid. It would not be surprising if the threat of financial sanctions plays a significant role in the club’s transfer plans this summer. But Fernandes, the chief executive of AirAsia and the team principal of Formula One team Caterham, has invested heavily in Rangers since becoming the club’s majority shareholder in 2011 and he has hinted he is willing to spend again in the coming months ahead of the Londoners’ top-flight return. QPR co-owner Tony Fernandes has vowed to fight the prospect of a Financial Fair Play fine and plough much of his side’s promotion windfall back into the club. Press Association Rangers returned to the Barclays Premier League at the first attempt by defeating Derby in the Sky Bet Championship play-off final at Wembley on Saturday. The victory, courtesy of Bobby Zamora’s 90th-minute goal, is reported to be worth in the region of £120million to QPR but the Londoners are now facing a fine of up to £50million for failing to comply with financial guidelines. “Harry Redknapp and me are very close and the manager is already talking about new players and next season,” said the 50-year-old. “He never stops. After the whistle he was mentioning a couple of players. I think he is relishing being back in the Premier League. “There is a massive gulf between us and those at the top of the Premier League but we have a great manager who has been up there. We are smarter owners and we will take our time over the summer. “Nobody is perfect. We will still make mistakes but we will be wiser and smarter.” As for the game itself, which saw QPR triumph against the odds following Gary O’Neil’s red card with half an hour still left to play, Fernandes said: “I feel honoured to have experienced that, privileged. “It feels great after all we went through in three years and the way we finished it, nobody can say the players didn’t play their hearts out. “When Gary was sent off there was 70 per cent of me that thought the dream would end – but too much had happened to us for the fairytale to end. “This is stuff that movies are made of, Roy of the Rovers stuff. When I was eight years old I was reading books where players were sent off and in the last minute someone scored the winner.” last_img read more