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About Camelback Captive Services:
Camelback Captive is an independent captive manager, providing
an array of services on a bundled and unbundled basis. We use our own
resources and those of highly-qualified independent service providers.
Stop
sticking your neck out! Let's
take a look at the captive concept together, to see if it's right for
your company.
Follow this link
to view contact information.
What is a Captive Insurance Company?
In its basic form, a captive insurance company is
typically an insurance company established and owned by one or more non-insurance
organizations to underwrite the risk(s) of their owner(s). A captive can
be owned by a single entity, by a number of unrelated companies from a
particular industry (a homogeneous group captive), by a number of unrelated
companies from different industries (a heterogeneous group captive) or
by a trade or industry associations (an association captive) to insure
the risks of the group owners or association.
Captive Insurance Company Statistics
- Over 5000 world-wide
- It is estimated approximately 50% of all U.S. commercial
lines business is in some form of a captive or other self-insurance
mechanism
- Over half of the Fortune 500 have one or more
captives, and it is estimated that a majority of the largest corporations
own a captive
What are the benefits of a Captive Insurance Company?
- Gain control of overall insurance program
- Secure coverage availability & capacity
- Achieve stabilization of premium
- Create focused loss control program
- Establish tailored claims administration operation
- Set risk selection standards (do not take “all
comers”)
- Gain direct access to reinsurance market
- Realize underwriting & investment income
Major Types of Captive Insurance Companies
Pure (Single-Parent)
A pure captive insures only the risks of its parent and its affiliates.
Group
Includes industrial groups, professional groups, associations and risk
retention groups.
Protected Cell
Provides a non-owned captive facility for those who choose not to form
their own captive; however, for a fee, can obtain many of the same benefits
an owned-captive offers.
Agency
Agency-owned captives enable an agent(s) to share in the profits generated
by their own business. The agent(s) control which business is placed
in the captive, thereby enhancing the opportunity to generate significant
profits.
Special Purpose
This type of captive offers those who do not fit any of the foregoing
captives’ definitions with the opportunity to benefit from a captive
structure. Not all domiciles permit this form of captive.
Captive Organizational Forms
Camelback Captive Services, Inc.
- Captive & RRG Formation
- Captive & RRG Management
- Monitor Feasibility Study Activities
- Develop Business Plan
- Preparation of domicile application
- Identify and work with necessary service providers
& monitor their activities. These include actuaries, accountants,
attorneys, fronting carriers, reinsurers and banks.
- Assist with incorporation & other organizational
documents
- Assist with reinsurance placements. We have relationships
with major brokers and reinsurers.
- Preparation of financial reports
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