Christine Viney speaks with Daily Oil Bulletin on what Alberta's Captive Insurance Companies Act (CICA) could mean for the oil & gas industry. She shares her insights on:
- how oil & gas companies may be able to use captive insurers to tailor their insurance programs to their unique needs;
- advantages and disadvantages that a captive may offer; and
- oil & gas companies in Canada who currently maintain captive insurers offshore may want to consider a domestic insurer under the CICA.
The CICA regulations, which will set out the details of how Alberta captive insurance companies will be formed, regulated and operated are expected in Spring 2022.
DOB subscribers can read the full article here.
Christine has written on the advantages, disadvantages and key features of the CICA in Captive Insurers: New Alberta Legislation Offers Additional Risk Management Option.