Captive Insurance Provided By Our Agency
Captive Insurance helps you take control of your insurance: reduce costs and tailor coverage to your specific needs.
What is Captive Insurance?
In its purest form, a captive is an insurance company formed by a business owner, or a group of business owners, to insure their risks. Through common ownership, captives can provide customized insurance, risk transfer, and risk management solutions that are specific to the needs of the insured parent company.
What does Captive Insurance cover?
Captives provide enterprise risk financing for the following types of coverage:
- Employee healthcare insurance
- Workers compensation
- Product liability
- Professional liability
- Extended warranty and service contracts
- Cyber security and terrorism
- Other company-specific risks
The Cost of Captive Insurance
Startup costs and annual operating costs are involved with launching and running a captive insurance program. While every situation is unique, budgeting up to $20,000 for both the startup and annual operating costs is a good ballpark figure.
The Benefits of Captive Insurance
- Improves Risk Management
- Multi-State Capabilities
- Reduces Costs
- Provides Comprehensive Coverage
- Returns Underwriting Profits And Investment Income
- Improves Cash Flow
Captive insurance can help your business grow by providing more comprehensive coverage, lowering costs, and improving cash flow. If you need a captive to take care of all of the risks that come with running a successful company, we are here for you so that you don’t have to worry about anything but growing your business!
