CAPTIVE INSURANCE COVERAGE
A Group Captive Insurance Program is a company that is owned wholly by those who are insured within it. This means your company and others within the Captive own the insurance company that carries your commercial insurance. A captive management company administers your program. They, not you, provide the structure, accounting, legal, claims management and other functions necessary to operate.
Advantages of Captive Insurance
Premiums are typically 25% lower (WC, GL and Auto) than the traditional market.
Only true claims are paid because you, the owner, have total control over the claims, reserves, and payment process.
60% of all premiums paid sit in your investment account earning income until claims are paid or dividends are declared.
Superior loss control (seminars, standards, awards) leads to lower claims/premiums.
Insurance captives bring quality, stability, and predictability to insurance, driving down costs and increasing the bottom line.
Member to member business opportunities and best practices.
Premiums and investment income returned back to our bottom line…
“Rob Metzler, Owner at Brier Payne Meade, introduced the Captive concept to our organization several years ago. After helping perform all the due diligence of transitioning from the traditional insurance marketplace to owning our own insurance program, we felt confident this insurance alternative was in the best interest of our company. Several years later we are a safer company than we’ve ever been, paying lower premiums than we ever had despite double digit growth, and most importantly, seeing premiums and investment income returned back to our bottom line as we participate in our insurance profitability.”
-Terry Whitlock, Owner, Quality Roofing Contractors