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Explore Captive Insurance

A "Captive Insurer" is an insurance company that is wholly owned and controlled by its insureds; its primary purpose is to insure the risks of its owners, and its insureds benefit from the captive insurer's underwriting profits. 

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Transform Commercial Insurance and Employee Benefits with Captive Insurance: Control, Customize, and Conquer Costs

Unlock the potential of captive insurance to enhance both your commercial insurance and employee benefits programs. 

Captive insurance allows you to design benefit plans and commercial insurance coverage that are perfectly suited to the unique needs of your business and employees. This provides personalized, comprehensive, and flexible solutions that go beyond traditional insurance policies. Say goodbye to the unpredictability of fluctuating insurance costs and embrace a stable, predictable financial landscape.

Gain a strategic edge in risk management and claims processing with unparalleled precision and control. Elevate your company's financial health and operational efficiency with captive insurance. Move forward with confidence and explore how this innovative approach can benefit your organization.

Cost Saving

Captive insurance allows businesses to retain premiums that would otherwise go to commercial insurers. This can result in significant cost savings.

 

Greater Control

By managing your own risks, your businesses can have greater control of claims handling and costs.

 

Broader Coverage

Tailor policies to provide broader coverage - and depending on the captive - risks that are excluded or cost prohibitive in the traditional market can be included.

 

Risk Management Services

Additional support and access to claims handling service provider or other risk control providers.

 

Predictability

Premiums are based on the insured’s own loss experience, so it is easy to predict changes in each year’s renewal premium. Immediate economic reward for controlling losses.

Direct Access to Reinsurance Markets

Allows for access to reinsurance rates which are lower than traditional insurance rates.

 

Your Risk Management Options

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Guaranteed Cost Commercial Insurance

In this traditional setup, a company (the insured) pays a premium to transfer its risk to an insurance carrier, which then agrees to cover claims up to a specified limit. However, in this arrangement, the insured has minimal control over its insurance program, relying heavily on the insurer to handle claims and provide necessary support services.

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Self-Insurance

Companies that choose to self-insure take on all their own risk. While this method offers more control than traditional insurance, it can be unpredictable and leave businesses exposed to significant losses without additional excess insurance coverage. Furthermore, unless a company has extensive internal resources and expertise, it will need to arrange for actuarial services to estimate loss funding and for claims management, legal, and other support services. This approach is generally adopted by businesses with the capacity to finance and manage their own insurance program.

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Captive Insurance

Captive insurance allows businesses to invest in their own insurance and risk management program. This method allows a customized approached, ensuring your unique risk management needs are met and allowing flexibility beyond traditional policies. Financially, it offers significant advantages, including cost savings through reduced premiums, investment income, and favorable tax conditions. Captive insurance also stabilizes costs, protecting businesses from market volatility and ensuring predictable expenses. By providing greater control over risk management, claims processing, and overall program administration, captive insurance enhances operational efficiency and supports effective loss prevention strategies. This approach is ideal for businesses seeking a comprehensive, cost-effective, and controlled solution for employee benefits or commercial insurance.

Types of Captives

Captives are a vehicle used by organizations wanting to pursue a long term, strategic approach to risk, and choosing the right risk-financing solution is critical. We can assist you in evaluating whether you are a good candidate for a Captive Insurance Program, and the type of captive that may be the best fit. The lines of coverage that can be included in a captive vary based on the type of captive.

Single Parent/Pure Captive

Owned and controlled by one organization and formed as a subsidiary of that organization. The captive insures the organization and/or its other subsidiaries. In certain situations, other third-party risk can be included.


*Available for Commercial and Employee Benefits

Segregated/Protected/Incorporated Cell Captive

A sponsor will form the cellular company and provide licensing and operational services, with each participant having a legally segregated cell to finance their own risk.

Group Captive

Owned and Controlled by the individual captive members/insureds to pool premiums and assume risk.

Risk Retention Group

Businesses with similar insurance needs will create and own a liability insurer to pool risk.

Employee Benefit Group Captive

Allows small and mid-size employers to partially self-insure and share a layer of medical stop loss risk in a captive.

Is your organization a good fit for captive insurance?

  • Workers Compensation, Automobile, and General Liability premiums of $100K+ can be viable for a group captive

  • Combined Property & Casualty premiums of $500K+ can be viable for a cell captive or ($1M+) pure captive 

  • Entities with 25+ enrolled employees can be viable for an employee benefits captive
  • Strong commitment to Safety & Risk Control
  •  Financially strong organization
  • Better than average loss experience
  • Commitment to Employee Health & Wellness 

Move Forward with Confidence

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