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The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance

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Willis Towers Watson Launches Group Captive Middle Market Solution

Businessman on rocket
June 12, 2020

Willis Towers Watson has launched a group captive solution designed for upper middle-market companies.

Homestead Insurance Company Incorporated Cell (Homestead) will reinsure The Hartford, which will issue admitted insurance policies to members selected for the group captive program.

In a statement, Willis said the program will provide companies a better and more cost-efficient way to purchase insurance over a 5- to 10-year period while eliminating the peaks and valleys of the standard market and giving members ownership of underwriting profits that would otherwise be retained by insurance companies.

Homestead's premiums should be competitive with traditional market programs, and long-term costs should be significantly lower than traditional programs if members maintain good loss experience, Willis said. The program will also provide opportunities for savings through dividends, efficient claims handling, and control over the administrative decisions of the group program.

Homestead will also provide true insurance for adverse losses from The Hartford while allowing members to involve the cost and time commitment involved with single-parent captives or traditional group programs, Willis said.

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