What Is a Captive Insurance Program?
A captive insurance program is designed primarily to insure the risks of its owners in their own insurance company that returns underwriting profit and investment income. These earnings would otherwise be retained by a traditional insurance carrier. The owners can be a single business, multiple businesses, or organizations (group captive) as well as an industry association, its members, or both (association captive). Captives are insurers owned by the insured and created for the main purpose of funding the owner’s risks that actively participate in decisions influencing its underwriting, operations, and investments.
What We Do
We work with sophisticated business owners and executives as well as their trusted advisors, to develop and design captive insurance programs for organizations that want the benefits of a captive insurance program such as sharing in the investment income and underwriting profit of their own insurance program, asset protection, building assets, better claims management & loss control, and tax advantages.
What Type of Business and Organization Can Benefit From a Captive?
The type of businesses and organizations that can benefit from a captive insurance program is unlimited and can be found in various industries such as franchising, law, biotechnology, banking, accounting, trucking, higher education, medical, non-profits, construction, and industry associations.
What Type of Insurance Can Be Incorporated Into a Captive Insurance Program?
All types of insurance, including but not limited to workers’ compensation, general liability, disability, automobile, cyber liability, errors & omissions, specialty coverages and health reinsurance.
How Are We Different Than Our Competitors?
Many insurance brokers and agents in our field claim they are in the captive insurance business but are not directly involved in all aspects of the captive insurance program cycle. They just pass off business owners to an unaffiliated organization to handle all the details of developing, planning, and operating a captive. We don’t do that.
We identify suitable businesses and organizations, whether individual, group, or associations, for captive insurance programs and work with them to create a unique program for those businesses or organizations. Captive services include:
- Captive consulting & risk analysis
- Feasibility studies
- Capital & collateral evaluation
- Access to a first-class provider network
- Captive partnering
- Captive licensing and formation
- Captive management
- Underwriting & policy administration
- Financial reporting
- Annual compliance & regulatory management
How Can We Help You?
To learn how your business, organization, or client may benefit from a captive insurance program, please contact a team member today.