Anderson Benson: Captive Services

A captive insurance company (a “captive”) is generally defined as an insurance company that is wholly owned and controlled by its insureds. A Captive is an alternative method of risk financing whose primary purpose is to insure the risks emanating from the owner’s affiliated businesses.

Anderson Benson assists with the evaluation of the insured’s risk management needs. These services include an in-depth risk management portfolio review identifying opportunities to utilize a captive for more efficient risk financing. Externally, Anderson Benson coordinates with highly qualified third-party advisors in the areas of captive management, actuarial, tax and audit services, investment management, reinsurance, and legal counsel.

Benefits of captive insurance include:

  • Control – allowing you to have an active role in insurance claims
  • Support of and integration with current insurance program
  • Increased coverage – including providing coverage for difficult risks or coverage that is not commercially available
  • Ability to establish high loss prevention and claims management standards
  • Access to the reinsurance market