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Captive Insurance: Pros & Cons
Transcript of Captive Insurance: Pros & Cons
To the Surety Underwriting Process
Where Do We Begin?
What is the genesis of insurance?
But there were rules to be involved...
All about the management of risk!
Policies, risk transfer,
claims handling, loss control,
actuarial guidance, etc.
Shares of Stock Ownership Examples:
Two Primary Types of Captives
"Traditional" Risk Types:
40% toward expenses
60% toward claims
$1.2 MM in Actuarially Supported
Premium...PATH Act 2015
"Non-Traditional" Risk Types:
Contingent Partner Disruption
Differences in Conditions
60/40 Does Not Apply...
Average cost of $50-75k
So What Does It All Mean for Bonding?
The impact of revenue leaving the operating company's financials...
Companies seeking to bond themselves on smaller jobs, but seeing a bigger opportunity without knowing the larger risk.
Carrier partnerships are key to success...