A captive insurance company is owned by the business which the captive issues the insurance policy to. It's a form of self funding. Therefore, captive insurance offers the business tremendous control and security it can not receive from buying an insurance policy from a commercial insurance Co. How much am I spending today buying each coverage line needed to run the business?
A business spending as little as $250,000 is right on the cusp of being large enough to consider captive insurance. Ideally, businesses spending more than $500,000 are ideal. Captive insurance is what we like to call a "Participation Sport", meaning, the business must be more engaged in the daily management of their risks. If a business wants to "Hand Off" risk management to a commercial carrier, a captive is not the ideal tool.
What is your Risk Appetite? Although many inaccurately perceive captives as being extremely risky, stop gaps can be put into place making captive insurance no more risky than commercial insurance.
A business spending as little as $250,000 is right on the cusp of being large enough to consider captive insurance. Ideally, businesses spending more than $500,000 are ideal. Captive insurance is what we like to call a "Participation Sport", meaning, the business must be more engaged in the daily management of their risks. If a business wants to "Hand Off" risk management to a commercial carrier, a captive is not the ideal tool.
What is your Risk Appetite? Although many inaccurately perceive captives as being extremely risky, stop gaps can be put into place making captive insurance no more risky than commercial insurance.
Services
Michael co-founded SGIA Medicare Consulting in 2007 when he recognized the need to help Medicare-eligible people and employers, navigate the complexities of Medicare, for the best benefits and lowest cost health plans.
He and his expert team make Medicare simple which provides a higher quality of living without the worry of an ever-changing world of Medicare.
Michael is a graduate of Loma Linda University and has held executive level positions with major health insurance carriers throughout his career, in both commercial and Medicare marketplaces.
He and his expert team make Medicare simple which provides a higher quality of living without the worry of an ever-changing world of Medicare.
Michael is a graduate of Loma Linda University and has held executive level positions with major health insurance carriers throughout his career, in both commercial and Medicare marketplaces.
A captive insurance company is a licensed and regulated insurance company owned by a business (or individual), which issues various insurance polices to its owner.
In SIMPLE ENGLISH, when you're a business owner and you need to cover risks to your business, you either buy a commercial policy from a commercial carrier, or you can pay premiums to your captive to protect your business against those risks.
Your business is exposed to risk everyday.
Some risks are common to all businesses, and therefore a commercial carrier will offer off-the-shelf policies.
In SIMPLE ENGLISH, when you're a business owner and you need to cover risks to your business, you either buy a commercial policy from a commercial carrier, or you can pay premiums to your captive to protect your business against those risks.
Your business is exposed to risk everyday.
Some risks are common to all businesses, and therefore a commercial carrier will offer off-the-shelf policies.
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