Establishing A Captive? What You Need To Know From Application To Optimization

If your organization is considering a captive, what do you need to understand about applying, governing and running captives effectively?

A captive insurance company is a licensed and regulated insurance or reinsurance company owned by a non-insurance company for purposes of insuring or reinsuring the risks of its owner or owner's affiliated companies.

Creating a captive insurance company can provide an innovative solution to your risk financing needs and enhance the financial and operational performance of your organization. But for businesses yet to run a captive, there is much to consider; from understanding the feasibility of your captive and applying for it, to understanding the roles and responsibilities of the board and other functions. You'll also want to understand the annual reporting cycle and how to get the most value from your captive.