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Using Captive Insurance as Part of a Global Risk Management Strategy

Steven Bauman, head of global programs and captive practice in North America, AXA XL
July 22, 2020

A new Captive Thought Leader Video featuring Steven Bauman, head of global programs and captive practice, North America, AXA XL, titled "Using Captives in Global Insurance Programs," has recently been added to the Captive.com video library.

According to Mr. Bauman, there is a long history of organizations using captive insurance companies to enhance their global risk management strategies.

A key component of global captive programs is compliance, which is a necessity for any multinational corporation due to the worldwide regulatory infrastructure that governs insurance, he says.

Because captive insurance companies operate with a very narrow license, they have a very limited jurisdiction, Mr. Bauman says. While the captive may issue a master insurance policy, local policies are often needed around the world. From a risk management and regulatory perspective, he says, it is important for the overall corporation that the local policies are coordinated correctly.

Working with a global partner to coordinate the various components of a global captive program, according to Mr. Bauman, organizations can extend the reach of their captive insurance company to many more areas than they would be able to normally.

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.

(Mr. Bauman is pictured above.)

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