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Captive Resource Center
Businesses and Associations
Research & Information
Miscellaneous
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 October 17, 2011: National Risk Retention Association 2011 Conference Wrap-up and Highlights by B. Troy Winch [Also available in printable format]
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Company Information |
The companies
of Risk Services comprise several consulting, captive management,
reinsurance intermediary and MGA/TPA entities operating in the major
onshore and offshore captive insurance domiciles and engaged in
all aspects of the alternative insurance marketplace. We have captive
management operations in Bermuda, District of Columbia, South Carolina,
Vermont, Arizona, Nevada and Hawaii.
The combined captive management experience of principals and
primary staff of Risk Services encompasses over fifty years in
the formation and operation of over one hundred captives located
both onshore and offshore. These include, but are not limited
to, single parent captives, Risk Retention Groups, association
captives, industrial insured captives, reciprocal captives, protected
cell captives, rent-a-captives and self-insurance groups.
Some of the advantages our clients obtain though the use of Risk
Services as their chosen provider of ART marketplace related services
include:
Industry Specialists
As specialists in the alternative market arena, we bring personal,
professional and experienced guidance to the design and administration
of customized solutions that draw on the best opportunities afforded
by both the alternative and traditional insurance markets.
Unbundled Services
Offering our services on an unbundled, “fee for service”
basis gives our clients the complete freedom to choose the services
they need and allows focus to shift from a “one size fits
all” approach to a truly customized approach that incorporates
the best available insurance products and services.
Recognized Expertise
Our teams of dedicated professionals have recognized expertise
in the various functional areas of the insurance industry in underwriting,
marketing, reinsurance, accounting, policyholder services, regulatory
compliance, claims, and loss control. We have the innovative skills
to take ideas from the drawing board to working reality.
Independent Status
Having no affiliation with a particular insurer or broker eliminates
potentially conflicting interests and allows us to focus our efforts
exclusively on the concerns of our clients.
Located Where Our Clients Needs are Best Served
Our offices and affiliated companies are strategically located
throughout the United States and offshore. We maintain close working
relationships with the regulatory departments of all of the favored
onshore and offshore jurisdictions. In addition, we are thoroughly
versed with the supporting infrastructure required to ensure efficient
insurance operations in any of these locations.
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ART/Captive Services |
Risk
Services provides complete captive formation and management services,
from which our clients choose the exact services that best fit their
needs. The services provided by Risk Services include the following:
Captive Management
With affiliated offices located in the leading captive domiciles
of Vermont, Bermuda and Hawaii, and, more recently, District of
Columbia, South Carolina and Nevada, we offer in-depth market
knowledge and strategic technical, legal and regulatory expertise
in the formation, structuring and management of sound captive
insurance company operations.
Our professional accounting personnel, offering “Big 4”
audit backgrounds and extensive experience in the management of
insurance operations, both onshore and offshore, provides expert
counsel from conception through full scale operation in designing
and managing alternative insurance market entities.
- Working closely with our clients, their legal counsel and
independent actuaries, we thoroughly research key factors such
as the types of risks to be insured, the financial requirements
for start-up and ongoing operations, the availability and cost
of reinsurance, and the tax, legal and regulatory environment
in arriving at optimal captive structure and domicile recommendations.
- In overseeing the licensing and registration of our clients’
captive facilities, our experience in doing business in the
major onshore and offshore domicile jurisdictions lends considerable
assistance in coordinating and expediting the application process.
- Once licensed, we provide comprehensive services encompassing
the major ongoing responsibilities for day to day operations
and our staff’s specialized expertise in customizing information
management systems ensures the production of financial reports
that will be most meaningful to our clients and applicable regulatory
authorities.
- As our clients’ needs change and the legal and technological
environment in which they operate evolves, we continually monitor
new marketing opportunities, policy form and coverage issues,
and accounting, tax and legislative developments to ensure that
our clients continue to gain the most benefit from their insurance
operations.
Reinsurance and Fronting Negotiations
With strong expertise in both the domestic and foreign insurance
and reinsurance markets and access to both brokered and direct
market writers, we provide expert direction in the negotiation,
development and management of reinsurance and fronting arrangements.
Marketing
Working with our clients’ designated producers or through
our own national network of independent agents and brokers, we
offer sound, professional guidance in the development and management
of successful marketing programs.
Program Administration
We provide complete insurance management services for the administration
of commercial property/casualty and workers’ compensation
programs, including management of program service providers, policy
and endorsement issuance, billing and collection services, premium
auditing, policy and claim record maintenance and review, and
customer service.
Underwriting
Recognizing the critical interaction between underwriting and
marketing, we make it a top priority to assist our clients in
developing and implementing underwriting guidelines and policies
that will be most effective in achieving our clients’ goals.
Claims and Loss Control
Based on our significant experience in the administration of casualty
insurance programs in a managed care environment, we have developed
a proactive, integrated management approach to the claims adjudication,
loss control and prevention functions that achieves the real “bottom-line”
difference for our clients.
Regulatory Compliance and Legal Assistance
Interacting frequently on behalf of our clients with regulatory
officials both onshore and offshore, we have forged excellent
working relationships that lend valuable assistance in identifying
and expediting compliance with regulatory requirements and applicable
law. Our in-house legal counsel is also available on a consulting
basis to work with our clients’ designated counsel in addressing
specific legal and regulatory compliance issues as they arise.
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ART/Captive Legislative Involvement |
The
principals of Risk Services are well recognized in the captive
insurance industry and are active in legislation affecting our
clients and the ART industry on the whole through their participation
in associations representing the alternative insurance marketplace.
Jon Harkavy, Vice President, located in our District of Columbia
office, previously served as the general counsel of the Risk and
Insurance Management Society (RIMS) for nearly a decade. During
his tenure in that position Jon was a drafter of the Federal Liability
Risk Retention Act Amendments of 1986, and is widely recognized
as an expert on the formation, structure, licensure and regulation
of Risk Retention Groups. Currently, Jon is on the Board of Directors
and Chairman of the Vermont Captive Insurance Association’s
Legislative Committee and President of the Coalition of Alternative
Risk Funding Mechanisms (CARFM), an organization representing
numerous state, national and international captive organizations
on legislative and regulatory matters. He has served as past Chairman
of the American Bar Association’s Self Insurers and Risk
Managers Committee of its Torts and Insurance Practice Section
and was formerly on the Board of Directors and Legislative Chairman
of the National Risk Retention Association (NRRA), a national
organization representing risk retention and purchasing groups
formed pursuant to the federal Liability Risk Retention Act. |
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Company Contacts |
Company
Contacts
Michael T. Rogers, Chairman and CEO
Telephone: 1-800-226-0793 #152
E-mail: mrogers@pboa.com
Jon Harkavy, Vice President
Telephone: 1-202-471-5944
E-mail: jharkavy@pboa.com
B. Troy Winch, Director of Captive Insurance
Telephone: 1-800-226-0793 #305
E-mail: twinch@pboa.com |
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For more information, visit our company website at