In the sixth instalment of our COVID-19 series, Richard is joined by Lorraine Stack and Michael Serricchio, of Friend of the Podcast Marsh Captive Solutions, to discuss the current and future role captive insurers can play in response to pandemic-related risks.
Michael and Lorraine (full biographies below) explain how the captive can be used to identify, quantify and insure related risks and then access the reinsurance and alternative markets. They also discuss how captives could utilise any government-backed pandemic risk pools that may be established in the future.
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Lorraine Stack, International Advisory and Sales Leader, Marsh Captive Solutions
Lorraine has over 25 years in the insurance industry in both the United States and Europe. She provides advice about a captive’s value proposition and assists with the feasibility assessment of captives.
Lorraine also facilitates strategic discussions with captive owners, providing advice on a wide range of captive issues such as capitalisation, coverages, investments, utilization and regulation. She is also the Global Employee Benefits Leader for Marsh Captive Solutions.
Michael Serricchio, Americas Sales Leader, Marsh Captive Solutions
Mike is a Managing Director in the Captive Advisory Group and resides in Marsh’s Norwalk, Connecticut office. Mike assists clients in the U.S. and globally with the feasibility and organization of single parent captives, as well as risk retention groups and Rent-A-Captives. Mike also participates in captive strategic reviews for clients that already have captives. Mike is frequently involved with reviewing merger and acquisition transactions where there are one or more captive subsidiaries and advises on various issues.
He handles a wide range of consulting services surrounding various captive issues and concerns, such as capitalization levels, new coverages, tax concepts, captive investment opportunities, and cost savings. Mike’s industry focus areas include privately held companies, financial institutions, retail, manufacturing, and power and utilities. Mike speaks at various industry seminars and conferences, as well as conducts training classes within the Marsh Captive Solutions Group.