Risk management Essay Example | Topics and Well Written Essays - 3000 words - 1

Risk management - Essay Example Various related sub-topics are discussed, such as ‘Admitted’ and ‘Non-Admitted’ besides analysing each mentioned domicile destination so that the most preferable domicile is finalised. Starting with Australia, other domiciles are discussed in detail. Guernsey takes the lead as it has maximum favourable points keeping in view the long-term strategic risk-management planning for an Australian conglomerate. The ends by pointing out the difference between a captive and other insurance companies, as a captive insurance can not cover certain insurances. TABLE OF CONTENT Executive Summary...........................................................................................................1 Table of Content................................................................................. ... ..........................5 4. Impact of Australia’s DOFI legislation on the company decision..................................6 5. Addressing the ‘Admitted’ vs. ‘Non Admitted’..............................................................7 6. Australia...........................................................................................................................8 7. Guernsey...........................................................................................................................9 7.1 Guernsey Plus-side..........................................................................................................9 7.2 The Non-EU Status of Guernsey...................................................................................10 7.3 The Advantageous Legislative Design..........................................................................10 8. Bermuda............................................................................. ..............................................11 9. Singapore..........................................................................................................................12 10. Conclusion & Recommendation.....................................................................................13 11. A class of insurance that the captive can’t cover.............................................................13 12. References.......................................................................................................................14 Captive Insurance 1. Introduction Increasing doubts in the world economy and random highs in premiums in the commercial insurance sector have encouraged companies from varied industries to plan their own captive insurance companies. Firms over a varied length of