Through our partnership with Innovative Captive Strategies (ICS), Starkweather & Shepley can help you determine if a Captive Insurance alternative makes sense for you. A Captive Insurance Company is a special purpose insurance company whose primary role is to insure or reinsure the retained risk of its owners. In other words, it is a risk financing mechanism used as an alternative to traditional insurance.
A Group Captive brings together a group of independent businesses to form their own insurance company. The member participants own their underwriting profit and investment income. Starkweather & Shepley’s Group Captive Insurance Company comprises of best-in-class companies from a varying array of industries. This Captive will provide workers’ compensation, general liability and automobile liability / physical damage coverage for its members.
Single Parent Captive
A Single Parent Captive is a company that insures risks of its parent or affiliated companies. It is owned by one company and is designed for organizations with annual premiums greater than $3 million. In the right situation, this arrangement can provide greater accountability for all profit-center programs.
Rent-A-Captives are designed to “rent” space to multiple programs/insureds through a “Segregated Cell” structure. These programs are designed to provide all the benefits of a Captive without ownership obligations. Starkweather & Shepley can help you decide which, if any, of these Captive Insurance alternatives are right for you. For companies who are committed to managing risk and want to embrace that risk for reward, Starkweather & Shepley’s Group Captive Program holds an exciting and promising opportunity for you. For more information, contact Patrick Meacham directly by Email