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Captive Insturance Company Management Firm Application  Form

Captive Insturance Company Management Firm Application Form

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can we or can you guys describe what a captive is and what purpose it serves i think that would be a really great umbrella question maybe to kind of set us up here um for the next ones coming down the line uh a captive insurance company is an insurance company a business owner sets up to insure their own business so our clients they they're buying property casually liability workers comp if they're developers they probably have um builders risk but they look at the traditional market and they say i'm not being served so or they've paid out a lot of money in premiums but their claims are a fraction of what they pay out so are they paying premium so they say i'm going to create my own insurance company they pay those premiums to their own insurance company and then we get reinsurance on the back end to make sure that there's if there's anything catastrophic that they're not you know destitute but it's an insurance company a business owner sets up or an association is an association of pe

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