What types of coverage can be put into a captive insurance program?
Captive Insurance Group works with you directly to include the proper coverage in your captive insurance program that best fits the risk mitigation plan of your business. Captive policies are designed to function as a “backstop” for your existing commercial coverage, cover high deductibles, exclusions, as well as provide coverage for risks where there is not an existing market with affordable coverage. Below is a sampling of coverages that could be included in your captive program:
Breach of Data
Loss of Key Contract
Loss of Key Customer
Loss of Key Employee
Loss of Key Referral Source
Loss of Key Supplier
How much does a captive cost to start up and have managed?
Captive Insurance Group offers a turn key service which includes all fees within our management fee. These fees include the price of regulatory compliance, annual actuarial opinions, annual audits, annual filings, annual premium tax, and any ongoing maintenance. This fee is on a sliding scale based on the level of premium that is put into the insurance company each year. Captive Insurance Group provides a detailed 10-year proforma that is extremely transparent regarding all costs that go into the startup and management of the captive.
Where are captives insurance companies domiciled?
While captives may potentially be domiciled in an offshore location, we only license and manage captives in domestic jurisdictions.