Captive Insurance Solutions

CSD&Z has been actively involved in the business of captive insurance since the early 1990’s. By 2000, the growth of this business segment had reached a point where a dedicated unit was created inside the company to serve this expanding client base. With a skill set that spans the alternatives of SINGLE PARENT, “RENT-A-CAPTIVES” and GROUP CAPTIVES and, involvement with and access to programs generating annual premiums of over $90 million to the market CSD&Z brings a unique level of experience and expertise to their customers when it comes to captive alternatives. This specialization is enhanced through their partnership with and investment in one of the premier captive managers in the business, Innovative Captive Strategies (www.yourcaptive.com).

In 2001, CSD&Z was the driving force in putting together a Group Captive program that has grown to nearly $20 million dollars in premium and enjoyed one of the best overall results of any such captive in the marketplace. With constant attention to Risk Control and Claim management, their clients have enjoyed not only yearly expense reductions but also operational improvements that reflect their commitment to long-term success.

Some of the often-asked questions and responses about captives include:

WHAT COVERAGES ARE COVERED IN A CAPTIVE?

  • Workers’ Compensation
  • General Liability Insurance
  • Automobile Liability and Physical Damage

WHAT BENEFITS ARE DERIVED FROM BEING A CAPTIVE OWNER?

  • YOU earn any developed Underwriting Profit and Investment Income (not the carrier)
  • AGGRESSIVE Claims management
  • Specialized Risk Control services
  • CONTROL over decisions affecting you (Claims, Safety and choice of members)
  • Premiums based primarily upon YOUR experience, not the insurance industry’s results
  • No renewal surprises
  • Forum for exchange of ideas and “Best Practices”

WHAT QUALITIES DO SUCCESSFUL CAPTIVES SHARE?

  • Careful risk selection of members
  • Proactive risk management programs
  • Quality partners/providers (captive management, actuarial, legal, CPA, domicile managers)
  • Actuarially sound pricing and funding
  • Minimizing of risk shifting and sharing
  • Similarity of interests and goals (homogeneous captive approach)
  • Long-term solution to insurance needs

WHAT ARE THE ATTRIBUTES OF A GOOD CAPTIVE MEMBER?

  • Entrepreneurial spirit
  • Financially sound
  • Ability to take risk
  • Commitment to risk management, throughout the organization
  • Desire to take more control of the insurance process
  • Long term commitment

Captives are surely not for every company or business owner. Yet, for those companies that feel they are ready to take control of their own destiny, captives offer a unique, viable and time tested way to do so. To see if a captive fits into your company’s plans and goals for future success, contact either Scott Egginton or Barb Grott for more information.