We provide innovative and alternative solutions to help clients efficiently manage and finance their exposures by establishing Captive Insurance Programs and Risk Retention Groups.
Essentially, a captive insurance company is a wholly owned insurance subsidiary of an organization/company that insures all or part of the risks of its parent. Captives are often formed by companies when business insurance for a certain commercial risk is either unavailable or unaffordable through traditional insurance markets. A Risk Retention Group is an alternative risk transfer mechanism that is owned by its members and spreads risk and financial results among members for third-party liability coverages only.
Our team will complete a comprehensive study to address overall costs, optimum retention levels, and capital and surplus requirements. Plus, we can recommend a team of service providers who will assist with program formation, implementation and management of your Captive Insurance Company. Once it’s operational, we’ll recommend adequate insurance reserves.
Our job is making sure your business is adequately protected and that you fully understand the cost of that protection. Losses can come from any number of directions and impact your bottom line in more ways than you may like to admit. Losses sustained as a result of your company not begin able to produce income are typically covered by property insurance. Casualty insurance, on the other hand, is designed to protect you from legal liability and losses caused by injury to other people and their properties. This includes workers compensation coverage.
We offer a broad service offering designed to assist a wide array of clients in implementing and managing successful risk management/insurance programs. Consider the many ways that our insightful analyses could benefit your company or organization.