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As an owner of a sophisticated business establishment you know there are alternatives – like association captives – to traditional insurance coverage. Association captives, also known as group captives, join multiple businesses, usually of the same market, together to obtain coverage or limits otherwise unavailable. This structure usually involves more than one class of share which enables the group to use a dividend policy to reflect the actual claims profile of each separate member of the association.
The great part about an association captive is member participants own the right to their underwriting and investment income. Giving you unprecedented control over coverage limits. Coverage within the captive includes:
- Workers’ comp
- Property and casualty
- General liability
The only main drawback to joining a group captive is having to co-exist with your fellow captive members. Not bad at all considering some of the alternatives.
At Caitlin-Morgan, we can help your business establish a part in an association captive insurance subsidiary. We offer customized financial services, including risk and investment management, in accompaniment with our full-service capabilities and insurance connections. So give us a call or fill out our form. We can’t wait to show you all the wonderful things we have in store.