OREANDA-NEWS. In this A.M.BestTV episode, Michael Meehan, a consultant at Milliman Inc., discusses how cyber risk and medical stop-loss coverages are becoming more common risk topics as sponsors conduct feasibility studies for potential captive coverage.

“Captive managers do a good job in evaluating clients to determine whether it is feasible for them to have a captive,” said Meehan. “They bring the ones to us that they believe have a good risk management program and lines and volumes of business, which would sustain a captive at that point.”

Meehan highlighted how the captive industry continues to evolve, saying that he sees the market today as one that is increasingly focused on cyber risk and medical stop-loss, whereas previously its primary focus was on workers’ compensation, as well as general and automobile liabilities. He believes that this new focus is good for the industry because, “it allows us to adapt and help our customers.”