Protecting Well-Managed Businesses Through Captive Insurance
Many of our clients have a strong desire to better control their destiny, manage costs and adopt a risk financing approach that enables them to budget current and future insurance costs. That’s led to an increasing interest in group captive insurance programs for businesses that consistently operate safely. Quite simply, captive insurance is a group of businesses that come together to form their own insurance company.
Captive insurance is designed to reward well-managed companies by:
- Reducing insurance costs (with premiums based on your loss experience)
- Recapturing underwriting profits and investment income
- Improving business risk management and cash flow
- Providing a means to transfer wealth out of the company
At Lawley, our team of insurance experts can assess your business to determine if captive insurance makes sense for you. If so, we’ll guide you through the process to ensure that you start to recognize the benefits from the program as quickly and easily as possible. Is joining a captive insurance group the right solution for your business? We’ll help you answer that question.
“We have always been a very safe company so the captive insurance concept made all the sense in the world. What has really helped us be even safer is the interaction with other “best in class” business owners and sharing of best practices. The captive through Lawley has provided our management team with additional tools to be successful that was just not available in the traditional marketplace” — Buffalo, NY Utility Contractor President