Captive Insurance Company Reviews

Cover of Magazine Discussing Marcus Corp Switching to Captive Insurance

Captive Insurance Benefits Companies: Read these Businesses’ Success Stories and Follow their Example

Joining a group captive insurance program can look like a daunting task to businesses. After weighing the pros and cons of captive insurance, companies usually decide to break out of the traditional insurance market for the freedom and security of a captive.

Alternative Risk Resources has helped many businesses opt out of traditional insurance by identifying the group captive offering the best benefits for their unique needs. Alternative Risk Resources sets businesses on the road to insurance stability and profitability.

The following examples are real companies explaining how captive insurance obtained through Alternative Risk Resources helped them gain an advantage in their industry. When you’re ready to gain control over your business insurance and turn unused premiums into profit, trust Alternative Risk Resources for access to the world’s best group captive insurance programs.

Contact the captive insurance brokers at Alternative Risk Resources for more examples of the benefits gained by joining a group captive program.

 

"One of the best business decisions we ever made was to join a group captive. There have been no surprises and the benefits have been outstanding."

Mike Gallagher
Executive Vice President, Miller Brands-Milwaukee

Property and Casualty Captives Make a Profit Center

Insurance premiums through third party insurers can be very unpredictable. Market volatility and government regulation means premiums fluctuate based on factors outside of your control. Captive insurance allows you to take more control of your insurance plan and turn unused premiums into profit. 

Casualty captive insurance creates positive incentives for a company as opposed to negative incentives created by third party insurance coverage. The more you use a regular insurance plan, the more value you get from it. Once you've incurred enough out-of-pocket expenses, the insurance policy takes over and covers the remainder of claims over its duration. In other words, the more claims, the more value. In a captive insurance plan, the more claims you make, the less comes back to you. The fewer claims, the more value. Captive insurance gives you incentive to institute and execute safe company practices and avoid claims on insurance. 

The cleaner your company's safety records, the more profit you make. Captive insurance allows you, instead of insurance companies, to benefit from your own safe practices.

Gain More Control with Your Own Captive Insurance Company

Setting up your own captive insurance company may seem like a daunting task. However, it's easier than you think, and brings you immediate benefits upon institution. With a group captive program, insurance premiums can actually go down, and those newly distributed funds turn into potential bottom line profit.

Why continue to spend unrecoverable money on regular business casualty insurance when it's highly likely your premiums will go unused? Captive brokers at Alternative Risk Resources walk you through the process of setting up your own captive insurance company and gain more control of your financial present and future.

Contact group captive insurance brokers for self-insurance on cyber security, crime, automobile liability and other insurable risks.

 

"Participation in Well Health Ltd has refocused our company’s overall attitude towards wellness. Through the sharing of ideas, learning from our partners and working together, we are improving the health of our employees and their families. Well Health, Ltd is helping our company make healthcare a positive employee benefit once again."

Tom Gillett
President and CEO, Indianhead Foodservice Distributor

Medical Stop Loss Coverage Overhauls Your Healthcare Coverage

Healthcare coverage has a very backward effect on your employees—it's a huge headache! Increasing premium costs and sweeping regulation is making it harder and harder for employers to fit their employees with usable healthcare policies at affordable costs. Leaving the entirety of your healthcare insurance in the hands of a third party provider subjects you to extensive government regulation and market volatility. 

Medical stop loss captives are an excellent option for companies looking for basic third party coverage for general liability but steering away from paying swollen premiums for catastrophic coverage. Stop loss captives allow you to profit from unused premiums and reward companies for instituting and executing policies that make their employees safer and healthier.

Group Captive Insurance Brokers Plan Your Risk Management

Captive insurance allows you to return unused premiums to investors in the form of dividends or other employee benefits. Instead of watching a third party insurance company pocket the profit from funding low-volume and low-probability insurable risks, you get to keep the fruits of your effective loss prevention practices.

While transferring risks to captive insurance is a surprisingly simple process, it's more than flipping a switch. You need to know the ins and outs of captive insurance coverage before making a fundamental change in your company's financial operations. Risk management brokers at Alternative Risk Resources help you determine how captive insurance is right for you and how to implement it in your existing model.

Contact medical stop loss captive brokers at Alternative Risk Resources for information on profit-generating insurance policies.

 

"Johnsonville Sausage joined the captive a short time ago and we are already seeing some of the great benefits of captive insurance programs. There is great focus on achieving excellence in loss-control techniques through a willingness to collaborate with other owners in the captive, as well as experts.

Our initial experience indicates the captive’s desire to be great at loss-control is second to none. Johnsonville Sausage is pleased to be part of a strong team with a focus on being great at safety, with an eye to zero injuries."

Paul Rutledge
Director of Safety and Health, Johnsonville Sausage, LLC

Captive Insurance Creates Positive Safety Incentives

Paul Rutledge from Johnsonville Sausage notes the safety culture fostered by companies enacting their own captive insurance policies. Loss control is prioritized when insurance premiums can be retained. 

A typical insurance plan organized through a third party insurer is essentially a sunk cost. The benefit is only seen if there are many claims on an insurance policy over its duration. From the incentive-driven value perspective, traditional insurance plans are more valuable to companies with more losses. It's a bit backwards.

Captive insurance makes your insurance premiums an investment, not a sunk cost. You have the opportunity to turn unused premiums into profits. Incentives to make claims on insurance policies turns into incentives to not make claims on insurance policies. Johnsonville Sausage sees the benefit, and so can your company.

Group Captive Insurance Brokers Give You More Control

If you want more control of your company and its finances, captive insurance is perfect for you. You don't have to be a large, multi-national corporation to qualify for captive insurance—small businesses are eligible to apply as long as their annual premiums are a minimum of $100,000. Gain unprecedented control of your company's profit and create a supplemental 831(b) captive insurance policy to cover unfunded risks. 

While setting up a captive insurance program is surprisingly easy, you still need guidance in the fine print and regulation of captive insurance plans. Captive insurance brokers at Alternative Risk Resources answer your questions and help you set up and manage your company's captives. Get in touch with us today and we'll help you get started.

Contact captive brokers at Alternative Risk Resources to overhaul your risk management process with captive insurance.

 

"After years in high premium, high deductible insurance programs, The Marcus Corporation was looking for an insurance partner who cared about the impact insurance costs have on our bottom line. We found our partner when we became a member of a captive in June of 2009."

With an emphasis on risk control and cost containment, the captive has given us the tools to shape our loss experience. The networking and educational opportunities are extremely helpful and the loss control inspections enhance the safety of our associates and the millions of guests who walk through the doors of our hotels and movie theatres every year. The tail fund allows us to close our books on a particular policy year after only five years. As a publicly traded company with financial reporting requirements, the finality provided by the tail fund is particularly attractive.

Our experience with the captive, its vendors and the other members has been first-rate. The Marcus Corporation looks forward to a long, productive and profitable partnership with our captive.

Tom Kissinger
Vice President, General Counsel and Secretary, The Marcus Corporation

Captive Insurance Turns Unused Premiums Into Profit

When you rely entirely on a traditional third party insurance provider, you accept the possibility a lot of potential profit for your company is pocketed by your insurance provider. Most every year, thousands of dollars in premiums go unused and insurance companies pocket it for a handsome profit. Taking on catastrophic risk can mean dramatic profits depending on a company's loss profile. 

Is Captive Insurance Right for You?

Your company stands to benefit the most from captive insurance if all of the following are true:

  • You have high premiums
  • Your company has a low claims record
  • You have established effective loss control and safety systems

Re-allocate your resources and tailor them to the strengths and weaknesses of your business. Captive insurance gives you the opportunity to benefit from your own safe practices. Our captive brokers help you to understand how captive insurance supplements your traditional third party insurance.

Group Captives Build Real Investment Assets

Perhaps the biggest perk of a captive insurance program is that it turns sunk costs into recoverable assets. Many companies regard insurance plans like a thing just needing to be done. It's not regarded as an investment. 831(b) unfunded risk captives are an investment, not a sunk cost. Your assets are recoverable.

Captive insurance plans allow you to profit from effective loss prevention tactics by recovering unused premiums. Lower premiums and higher investment income are real benefits of joining a captive insurance program. While traditional insurance companies use larger pools of data not necessarily indicative of your company's loss profile, captive insurance allows you to price your own premiums based independent actuarial date more closely related to your business.

Captive insurance isn't relegated only for large corporations or companies like Marcus Corporation. It's perfect for any company with unfunded risks. Therefore, all of them, including yours!

Contact captive insurance brokers at Alternative Risk Resources for more information on self-insured risk management.

 

"I could certainly reinforce what you will read or hear about when it comes to the financial, risk management and other unique intangibles we benefit from as a captive member. Two specific intangibles are the risk control best practices we developed with other members and the insight generated from the various reporting tools. Tomra has used them extensively as part of a broader solution create a safer workplace – one of the key elements at the heart of our business and an important component in our Corporate Social Responsibility Framework."

Geoffrey Knotwell
EVP, Chief Financial Officer, Tomra of North America, Inc.

Captive Insurance Promotes Safety Culture

Traditional third party insurance creates somewhat backward incentives for companies. At a certain point, out-of-pocket expenses hit a ceiling and insurance policies pick up the rest of the bill. Continuing to make claims on insurance provides more short term value. Instead of promoting safety, third party insurance actually promotes more insurance claims!

Captive insurance companies put incentives in place to foster and positive safety culture. The lower amount of insurance claims, the more money your company is able to retain from unused premiums. Instead of incentivizing employees to make many claims and "use" their insurance, captive insurance creates real incentive to instill safe protocols and practices to keep employees safe.

831(b) captive insurance coverage protects you against unfunded risks and gives you potential to profit from unused premiums. Turn sunk costs into investment assets and gain more control of your company's finances.

Group Captives Optimize Your Risk Management Process

Pooling resources among other captive companies means increased stability and heightening the odds you make a profit from unused premiums. Spreading risk to other similar kinds of companies means mutual benefit for safety culture throughout the industry and decreasing financial volatility. Lower insurance premiums and greater profit means:

  • More dividends paid out
  • Higher wages
  • Greater employee benefits
  • Lower prices for customers

Captive insurance opens up doors for your company and allows you greater control over your operations. Captive brokers at Alternative Risk Resources inform you on the pros and cons of captive insurance and ensure you have a full understanding of the plan, then walk you through the process of setting up your own captive insurance company. 

Contact 831(b) unfunded risk management brokers at Alternative Risk Resources for more information on self-insurance.

 

"The 831(b) process helped us to identify uninsured exposures and provided a funding mechanism for those exposures. This program has enabled us to create a profit center where there once was only unfunded, uninsured risk."

Tom Gillett
President and CEO, Indianhead Foodservice Distributor, Inc.

 

831(B) Captive Insurance Covers Unfunded Risks

Some things you just can't see coming, whether it's in your personal life or in your business. Long odds don't eliminate the threat of instance. A long shot is still a shot. Your business currently faces myriad unfunded risks whether you're aware of it or not. Running a business necessitates sticking your neck out into new territory and expose yourself to a number of competing factors working against you. 

Third party insurance providers promise to cover certain losses, such as in the realm of medical care, property, casualty or automobile insurance. However, umbrella policies covered by third party insurance companies can be very costly, and most often, they pocket the profit when your expensive premiums go unused. 

831(b) unfunded risk captive insurance covers these long-shot insurable risks and give you the chance to keep the profits from your own ability to operate without catastrophic loss. Indianhead Foodservice has been able to capitalize on this opportunity, and has created a profit center out of their own unfunded insurance risk. 

Captive Insurance Opens a New Market

Integrating captive insurance into your business plan means you are your own insurance company. You are no longer at the whim of insurance companies looking to use your risk to pocket profits. You set your own premiums based on your own data and independent actuarial data. 

Captive insurance gives you more control. Instead of throwing away your money on unused premiums or crossing your fingers and hoping your unfunded risks are never realized, set up a captive insurance plan to protect yourself and increase your profit potential. 

Contact captive insurance brokers at Alternative Risk Resources today to set up your own captive insurance plan.

 

"Unaware of the benefits allowable under the easy to implement 831(b) process, we have been able to set up coverages for exposures we, in the past, did not insure and have created an estate planning opportunity for our owners that meets their needs."

Bob Stoehr
Chief Financial Officer, County Material Corporation

831(b) Captive Insurance Process Covers Uninsured Risks

Third party insurance companies will cover common insurable risks such as health care, automobile liability or property insurance. Many companies consider insurance premiums for these essential coverages as a necessary and sunk costs. Captive insurance turns sunk costs promoted the use of insurance into investments promoting the avoidance of insurance claims and more effective loss prevention policies.

You are Already an Insurance Company—You Just Don't Know It

Captive brokers at Alternative Risk Resources understands you can't see every loss coming. You can only prepare for the worst and hope for the best. However, without knowing it, you are insuring long-shot risks through a third party umbrella policy, not using insurance premiums which they pocket for a profit. 

By simply opening your doors for business, you expose yourself to many risks you aren't even aware of. 831(b) captive insurance allows you to cover these risks with the opportunity to profit from your own safe practices by retaining unused premiums. 

Restructure Your Risk Management Program

Take control of your company's insurance program today. Group captive insurance brokers at Alternative Risk Resources help you overhaul your healthcare coverage and install a specific stop loss captive program. Partially self-funded health insurance plans turn fixed costs into recoverable variable costs. 

Captive insurance allows you to simultaneously cover catastrophic loss while adding profit potential to your business. Schedule a consultation with our captive insurance brokers at Alternative Risk Resources today to gain more control of your company's financial future.

Contact captive insurance brokers today for more information on property, casualty and stop loss captives.

"Since we began our collaboration in January of 2000, we experienced immediate results with our ability to take a proactive approach to controlling our casualty insurance. Being a part of a network of people and companies with similar objectives and values provides us with immense access to resources that are simply not available in the traditional insurance market.

In addition, we have realized truly tangible results in terms of significant dollar savings and greater control over casualty insurance costs. We are very pleased with the outcome of the program and look forward to reaping the benefits of our membership for years to come."

Jay Schauer
Chief Financial Officer, Allen Edmonds Shoe Corporation

Casualty Captive Insurance Lets You Profit from Unused Premiums

You should be rewarded for enacting safety initiatives and reducing the number of insurance claims. Insurance premiums, when left to a third party provider, are subject to volatile markets and government regulation. 

Set up a casualty captive insurance plan and gain control of your own insurable risks. Casualty captive insurance can potentially cover worker's compensation, cyber security, crime, or automobile liability as a supplement to your traditional insurance plan. 

Captive insurance isn't only for large multinational companies. Small businesses with more than $100,000 in annual insurance premiums are eligible to set up their own captive insurance company. For more details on captive insurance and how it fits your business model, consult the brokers at Alternative Risk Resources today.

Captive Insurance Promises Control

The positive incentives created by captive insurance are undeniable. Instead of limiting lost time incidences or workplace accidents merely being a matter of reputation or rhetoric, they become direct financial burdens on your company. Employees benefit directly from safer practices under captive insurance. Limiting losses means more profit is retained by the company, which transfers to employees in dividends, better benefits and higher wages. 

Captive insurance provides you with several financial benefits. Mr. Schauer from Allen Edmonds has seen it, and so can you. Our representatives at Alternative Risk Resources are ready to answer your questions and discuss your options with you. 

Contact captive brokers now for a consultation regarding setting up captive insurance for your company.
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