Foley & Lardner LLP Partner Morgan Tilleman was quoted in a Law360 article titled, “Captive Insurance Growth May Outlast Pandemic-Driven Spike,” discussing how the use of captive insurance companies has recently jumped across a number of lines as the coronavirus pandemic's ushering in of lower interest rates and higher premiums made captive insurance comparatively cheaper.
Tilleman told Law360, “Over the last decade, the professional services firms that are involved in creating and running a captive, including actuaries, accountants, attorneys and captive managers, have become more efficient at providing such services. It has become an increasingly commoditized service. At one point, this was a bit of a bespoke process. It honestly no longer is. As a result, most of the day-to-day compliance costs, which are the "hard" costs of running a captive, have become less expensive.”