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How To Make Your Captive Insurance Company Successful

Jeremy_Colombik_video
August 22, 2017

A new Captive Thought Leader Video from Management Services International (MSI), "What Makes a Captive Insurance Company Successful?," has recently been added to the Captive.com library.

The video features Jeremy Colombik, president of MSl, who explains that what makes a captive insurance company successful is understanding that it is a business. Mr. Colombik states that five factors come into play to make the business successful: determining the type of risk to put into the captive (actuaries/underwriters), minimizing commercial insurance costs, better risk management, increasing risk awareness, and tax benefits. In the case of small insurance companies that choose an 831(b) tax election, the captive insurer may receive up to $2.2 million of premium per year without paying tax on the premium dollars received.

Captive.com's video library currently features 57 short educational videos by 12 captive insurance experts. Among the topics covered in the 1- to 3-minute videos are microcaptives, tax issues, captive feasibility, captive domicile selection, choosing an auditor, captive management, group captives, healthcare captives, risk pooling, common myths about captives, how to manage a captive efficiently, what makes a captive successful, and benefits in captives.

In addition to Mr. Colombik, captive insurance experts featured in the videos include the following.

  • John Alberici, chairman, Alberici Corporation

  • Gary Bowers, tax partner, Johnson Lambert

  • Martin Eveleigh, chairman, Atlas Insurance Management

  • Alan Fleming, chairman, Airmic

  • Debbie Liebeskind, actuary, human resources, Towers Watson

  • Michael Maglaras, principal, Michael Maglaras & Company

  • Steven McElhiney, president and CEO, EWI Re, Inc.

  • Michael O’Neill, president and CEO, American Contractors Insurance Group

  • Hugh Rosenbaum, retired principal, Towers Watson

  • P. Bruce Wright, partner, Eversheds Sutherland (US) LLP

  • Brady Young, president and CEO, Strategic Risk Solutions

Each of these captive insurance thought leaders has decades of broad experience with captive insurance companies, and they freely share their expertise in the videos. This constitutes a wealth of information on captive insurance fundamentals that will be especially valuable to newcomers to captive insurance. By watching one or two of these informative videos each day for a month, you will hone your knowledge of captive insurance fundamentals and trends.

There is no cost to view the videos, and you will find them in the Captive Thought Leader Videos section of Captive.com. More videos will be added in the future.

(Pictured above is Jeremy Colombik, president of Management Services International.)
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