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Constitution Insurance Company, Ltd.
Caitlin-Morgan is dedicated to offering agents and their clients alternative solutions to manage their risk in a more cost-efficient way. Constitution Insurance Company, a series captive insurance company located in Wilmington, Delaware, was co-founded by Caitlin-Morgan and M.R. Mead & Company to offer clients the benefits of a captive while eliminating many of the liabilities.
Here’s how it works: Constitution’s structure is that of a Series LLC with independent entities beneath called Series Business Units (SBUs). These can take the form of a C Corp, S Corp, LLC, partnership, trust, company department or any other legally recognized structure. Under Delaware law, each unit and its assets and liabilities are separate from the actions of the other entities. Entry and exit into and from the captive is easy. There is also versatility of governance and structuring.
Additional benefits to your clients include:
- No premium tax at the SBU level
- Can be structured to limit or eliminate fiduciary duties
- Flexibility in cost and regulation in a jurisdiction recognized worldwide for its business acumen
- SBUs use their money more efficiently because they only cover the actual exposure
- Eliminates the cost in time and money learning about insurance company protocols and customs, allowing businesses to concentrate on their core focus of running their operation
Setting up a captive requires the right professional advisors, which you get with Caitlin-Morgan and M.R. Mead & Company. There are a number of scenarios that can be implemented under Constitution’s structure, which we will be happy to discuss with you. Give us a call to discuss how we can provide alternative solutions to your business clients, association of businesses or high net worth individuals.
