What is Member-Owned Group Captive Insurance?
- Businesses team up to form their own insurance company. They pool their money together to cover the risks and costs. It gives them greater control and saves them money in the long run through best safety practices
Why businessowners are exiting the conventional insurance marketplace and joining Captives?
- Rising insurance costs & insurance market volatility
- MORE control over claims management
- Premiums that reflect THEIR business’ claims performance not others (with poor safety records)
Benefits of Captives:
- Potential to receive unused Work Comp, General Liab, & Auto premiums back as dividends each year
- Enhanced control over claims management
- Improved Safety & Risk Control
- Protection from conventional insurance market volatility
*The top 20% of policy holders in the traditional insurance market are paying for the claims of the bottom 80%
Barriers to Entry (which is what you want!!!):
- BEST IN CLASS COMPANIES
- SAFETY FOCUSED… willingness to improve programs
- FINANCIALLY STABLE
- LOW CLAIMS FREQUENCY
