IRMI Captive Insurance Industry Books and Periodicals
on the NewsRack at Captive.com

Since 1978, IRMI has been a leading publisher of technical reference materials for the insurance industry. Our line of digital resources, periodicals, risk and insurance books, and electronic apps have been a trusted resource for insurance professionals for almost 4 decades.


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Captive Practices and Procedures

How To Structure and Operate a Successful Captive Insurance Program

The second edition has been updated to reflect market cycles and increased board responsibilities since the first edition. Author Kathryn Westover has set up and managed more than 50 successful captives during her 20-plus years of experience. This book will help you understand the accepted practices and procedures that support a captive’s ability to achieve its mission and purpose. Learn what it takes to establish a successful captive insurance company—one that sets the standard and withstands the test of time!

Learn how to make sure your captive is built to last.

  • Use the components of a feasibility study to develop the strategic business plan.
  • Read and understand a captive’s financial reports.
  • Establish a captive management team that actively drives the achievement of the captive’s strategic goals.
  • Develop a procedures manual that will actually be used.
  • Turn “regulatory compliance” from a negative into a positive.
  • Use performance analyses to reinforce stakeholder satisfaction.

Subscribers can go directly to the publication on ReferenceConnect or IRMI Online. Or, if you don't subscribe, learn how.


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Captives and the Management of Risk

Now in its third edition (July 2014), IRMI's popular book Captives and the Management of Risk is designed to help newcomers and risk funding veterans alike understand the pros and cons of captives and apply proven concepts for strategic success. This comprehensive book breaks down the complex topic of captives, revealing the types of risk that can be handled by captives, why captives can be effective as a risk management tool, tax and accounting considerations, how to determine if a captive is feasible, how to choose a domicile, and how to manage and operate a captive. Captives and the Management of Risk is divided into 13 chapters, each one designed to answer a Captive Frequently Asked Question, or "CAPFAQ."

This 264-page book is authored by Kathryn Westover, a captive consultant who has worked with risk funding programs for more than years. Ms. Westover takes the perspective of those working within the regulatory environment of the United States, and the guidelines and strategies she offers will assure your success in managing, participating in, or recognizing whether a captive is the best risk management option.

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CICR The use of captive insurance companies grew significantly in the soft market and is expanding rapidly in the hard market. As a risk management or insurance professional, you can view traditional market change and the increasing use of the alternative market as either a threat or opportunity.

Captive Insurance Company Reports (CICR) is the first and most well-known periodical to focus on the alternative market. CICR covers reinsurance, tax, and regulatory developments in the captive industry. Each month it provides comprehensive reports and comparisons of new and existing captive domiciles. It also addresses reinsurance and fronting conditions and their effects on captives. Subscribers will also receive summaries of the proceedings from many conferences, assessments of the latest tax legislation, and the holdings of recent court cases. CICR's annual review issue, "Captive Scene Today," provides a definitive summary of the growth and the latest trends in this sector of the market. Subscribers to the electronic versions of CICR are provided a fully searchable archive of all issues published since August 1998.

The May 2017 issue of Captive Insurance Company Reports (CICR) contains the following topics of interest:

CICR Subscribers: Click directly to the issue in IRMI Online or ReferenceConnect. If you don't currently subscribe, order CICR direct from IRMI on captive.com's secure server! Following are the highlights of this month's CICR.

Kick the tires before you buy! To see a sample CICR, View The April 2014 issue in Adobe Acrobat (pdf). This is an excellent sample issue that we think you will enjoy!

Newest CICR Index in searchable PDF

If you don't subscribe, learn how.


Claims Operations:  A Practical Guide

Claims Operations: A Practical Guide

Explanations and illustrative examples of technical claim issues, practices, and management.

Written for both experienced and new insurance professionals, this book provides a comprehensive overview of how the claims process is handled, controlled, and managed, and its interrelationship with other functional departments. 

An outstanding training resource to:

  • Guide the building of a “best practices” claim model.
  • Understand and evaluate the claim facility or contracted TPA.
  • Decipher the types of TPAs and the selection process.
  • Avoid the negative effects of inadequate TPA pricing on results and member/policyholder retention.
  • Proactively address the adverse results of improper or inadequate claim staffing and management’s staffing decisions.
  • Develop a member-owned claim facility.

Subscribers can go directly to the publication on ReferenceConnect or IRMI Online. Or, if you don't subscribe, learn how.


Fundamentals of Reinsurance

Fundamentals of Reinsurance and Reinsurance Markets

Gain a Practical Grounding in the Fundamentals of Reinsurance and the Marketplace.

This book addresses some of the key and unique aspects of reinsurance and also provides an overview of its history and future. It summarizes the basics and provides an overview of specific aspects such as claims, accounting, and captives.

Those who are new to reinsurance purchasing, underwriting, or sales will benefit from this book. Using examples, easy-to-understand illustrations, and handy checklists, it is a timely, real-world introduction to the highly specialized field of reinsurance.

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Practical Risk Management®

Designed to help risk management and financial executives start and maintain a risk management program, Practical Risk Management® discusses the entire process from exposure identification through implementation and monitoring of the program.

The publication suggests risk management practices to implement and provides concise and understandable explanations of most types of insurance coverage along with tips on the best coverage options. Subscription includes a quarterly newsletter providing insight into emerging risks, new risk management tactics, and insurance market trends.

Subscribers can go directly to the publication on ReferenceConnect or IRMI Online. Or, if you don't subscribe, learn how.


Risk Financing®

During a hardening market, aggressively controlling the cost of risk provides a competitive edge and adds to corporate profits. To manage and control the cost of risk, you must choose from a complex array of alternative risk funding approaches and periodically evaluate and fine-tune the selected vehicles. However, there are so many constantly changing variations of all the alternatives -- and a myriad of tax and accounting implications associated with each -- that it is practically impossible to keep up with them. That's why even the most experienced brokers, underwriters, consultants, CFOs, and risk managers turn to Risk Financing to stay abreast of this fast-moving field!

This leading-edge reference provides the details you need to know about deductibles, experience rating, retrospective rating, self-insurance, risk retention groups, self-insurance trusts and pools, captives, finite risk insurance, the alternative market, and other cash flow plans. Today's risk management and insurance professional must be extremely knowledgeable in the pros and cons as well as the operation of each plan. Risk Financing will help you develop competitive alternatives, prepare complete, understandable proposals and/or reports, advise of the tax and accounting considerations of the various alternatives, and keep you abreast of changes that affect your services and programs. It includes eight valuable appendixes, containing summaries of state self-insurance regulations, copies of relevant FASBs, internal revenue code provisions, captive insurer legislation, cost guidelines, etc. This service also includes the Risk Finance Perspectives newsletter with each update to the manual..

Subscribers can go directly to the publication on ReferenceConnect or IRMI Online. Or, if you don't subscribe, learn how.