What is a Captive?
A captive is an insurance company created for the primary purpose of managing the risks of a parent company or closely related businesses.
Corporations, associations, trusts, limited partnerships, limited liability companies and natural persons may own or control captives..
Benefits of Owning a Captive
- Control & manage insurance costs (Crop, Property, Liability, Cyber, etc.)
- Customize deductibles for self-insured retention
- Custom designed coverage for specialty risk
- Capture underwriting profit & investment income
- Direct access to the reinsurance markets
- Manage claims & administration
- Premium stability & deductibility
- Eliminate coverage limitations
- Improve risk management
- Asset protection