CAPTIVE INSURANCE COMPANIES ASSOCIATION
CAPTIVE RESOURCES
“Each member has one seat on the board of directors
and one vote. This equity is an attractive feature to members since each one,
regardless of premium size, has the same voice.”
unrelated, insured entities, then members’ gross premiums should be fully deductible.
• Limited capital outlay: Membership in a group captive requires a modest capital investment as compared to setting up a single parent captive for example, which typically involves a significant capital outlay.
• Loss prevention/claims management programmes: The best member-owned group captives provide extensive loss prevention programmes to support members’ efforts, and claims management oversight, since it is through effective prevention and management of losses that captive members can continually control their insurance costs.
• Professional networking: Members have the opportunity to network and build new business relationships with fellow captive members - other professional and entrepreneurial business people from across the US. These relationships have benefited members in many ways such as the safety and risk management best practices, but also in other ways completely unrelated to insurance.
The challenge of managing risk in an ever-changing, uncertain world demands proven, cost-effective and flexible risk management strategies that not only protect operations, but also contribute to competitive advantage. Thousands of business owners have found that member-owned group captives fulfil this need by providing a long- term, stable mechanism to control their insurance costs and cope with changing market dynamics. No longer ‘alternative’, these captives are now a strategic risk management choice that places member-owners in a commanding position of control. l
Sandra R. Duncan is vice president, operations, at Captive Resources, LLC. She can be contacted at:
sduncan@captiveresources.com
CICA | Forty years of captive leadership 65
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