What is Captive Insurance?
What does Captive Insurance cover?
Captives provide enterprise risk financing for the following types of coverage:
A)Â Employee healthcare insurance
B) Workers’ compensation
C)Â Product liability
D)Â Professional liability
E)Â Extended warranty and service contracts
F)Â Cyber security and terrorism
G)Â Other company-specific risks
How much does Captive Insurance cost?
There are startup costs and annual operating costs involved with launching and running a captive insurance program. While every situation is unique, budgeting for up to $20,000 for both the startup and annual operating costs is a good ballpark figure.
What are the benefits of Captive Insurance?
A)Â Improves risk management
B)Â Multi-state capabilities
C)Â Reduces costs
D)Â Provides comprehensive coverage
E)Â Returns underwriting profits and investment income
F)Â Improves cash flow
Captive insurance can help your business grow by providing more comprehensive coverage, lowering costs, and improving cash flow. If you need a captive to take care of all of the risks that come with running a successful company, we are here for you so that you don’t have to worry about anything but growing your business!
With the best insurance agency in Crown point.
Mark your calendars! The Medicare Open Enrollment period starts on October 15, 2024, and runs through December 7, 2024. This is your opportunity to review, compare and make changes to your Medicare plan for 2025. Don’t miss the chance to ensure you have the best coverage suited to your needs. Explore your options today!