Insurance Captives Crash and Burn for These Reasons
While insurance captives can be a powerful risk management tool, they also run the risk of being unsuccessful if not managed properly. In this video, Steve McElhiney, president and CEO of EWI Reinsurance, discusses the importance of having a consistent focus on the specific need that the insurance captive was formed to address. Effective governance and management direction, including both annual plans as well as more long-term goals, are critical for the success of an insurance captive. In addition to the risk controls and investment strategy that must come from the insurance captive itself, Mr. McElhiney also gives some examples of the types of service providers that can assist in fulfilling the organization's goals.