Captive Management
Mission Statements Critical for Group Captive Success
In the video "Three Critical Success Factors for Group Captives," Michael J. O'Neill of ACIG elaborates on how a group captive insurance company's mission statement is vital to its success and describes what makes an effective mission statement. Read More
How Single-Parent Captives Can Benefit from Captive Risk Pooling
Many single-parent captives insure only the risks of just one or a few insureds and will be unable to achieve risk sharing. One solution involves joining a risk pool. The benefits of captive risk pooling are explained in this video by Martin Eveleigh from Risk Management Advisors. Read More
Risk Management Made Profitable with a Captive Insurance Company
Jeremy Colombik, president of Management Services International, says that what makes risk management profitable comes down to understanding that whether a business purchases insurance or not, the risk remains. Businesses can make their commercial insurance policies more efficient with a high deductible policy that moves risk into a captive insurer. Read More
What Makes a Captive Insurance Company Successful
Jeremy Colombik, president of Management Services International, states that five factors come into play to make a captive insurance company successful: (1) determining the type of risk to put into the captive (actuaries/underwriters), (2) minimizing commercial insurance costs, (3) better risk management, (4) increasing risk awareness, and (5) tax benefits. Read More
How To Manage a Captive More Efficiently
Managing a captive efficiently comes down to having a streamlined approach. Captive managers coordinate multiple pieces such as actuaries, auditors, regulatory bodies, and financial statement preparation. A captive manager may want to look at a firm to help with back office support, according to Jeremy Colombik of Management Services International. Read More