When it comes to insurance options, your company has a variety of options. One option is a single-parent captive. A single parent, or pure captive, is a captive that your company owns. The captive insures only your company or any affiliates that you have. The following lists some of the many benefits of single captives.
While insurance costs are a necessary part of running a business, you can lower your costs with the use of a single-parent captive. On one hand, you can receive capture underwriting profit and you can stabilize the prices and purchase based on what you need. Additionally, you are able to retain premium dollars, investment income and reap the benefits of investment income.
When you have a single-parent captive, you are the one in control. You have more control over your coverage, your underwriting and your claims control. You receive comprehensive insurance options while retaining full control. If you need specialized coverages or excess coverage for your industry, you have access to it.
A single-parent captive is a great alternative to traditional insurance. It can provide you with minimal insurance costs, more control over your claims and increased coverage options. When it comes to insuring your business, working with a company that understands single-parent captive solutions is imperative.