January 2011

Spotlight – In international business, almost every market around the world does things in a different way. This often leads to misunderstandings and unfulfilled expectations. However, different does not need to mean difficult and knowledge of the needs and characteristics of specific geographic markets is an advantage to those who are active in the global economy. These articles help you understand different aspects of the insurance industry around the world, enabling those who do business there to feel more “at home, abroad.”

When did the name “captive insurance company” become popular? The late 1950s? Whenever it was, the concept of insuring your exposures with a carrier in whom you had an interest dates back to far longer than that. Think of cooperatives and mutuals. Our friend at ICIMF (International Co-operative and Mutual Insurance Federation) has an interesting Spotlight on the development of the worldwide trade body which represents the interests of its members in the global insurance sector. There are some surprising statistics. For more information, go to www.icmif.org or contact John Gully at john@icmif.org

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