Think of captive insurance as moving from "renting" your insurance to "owning" it. Instead of sending premiums to a traditional carrier, you’re basically building your own in-house insurance company. It gives you the driver's seat when it comes to coverage and costs, but like owning any business, it comes with a few extra responsibilities you’ll […]
A captive insurance company is formed to insure the risks of its parent company or a group of related businesses. By funding their own insurance company, businesses gain flexibility and long-term financial advantages. Captives can be structured to provide insurance coverage to a broad range of risks, including general liability, auto, casualty, property, workers’ compensation, […]
If you’ve ever wondered how some businesses manage to keep their insurance costs down while still having solid coverage, captive insurance might be the secret sauce. Simply put, a captive insurance company is like having your own in-house insurance provider, created just for your business and its unique risks. It’s a smart, flexible approach that’s […]
If your company faces challenges obtaining affordable or specialized liability insurance through traditional channels, an RRG might be a smart alternative. These member-owned insurance companies, often viewed as a type of captive insurance, are designed specifically for businesses with similar risks who want more say in how their coverage is structured. One of the biggest […]
At Gregory & Appel, we often get asked, “what is captive insurance?” It’s a question that opens the door to a powerful way for businesses to take control of their own risk management and insurance costs. Imagine having your own insurance company: one that’s tailored specifically to your unique risks and needs, rather than relying […]
With the volatility of the insurance market, many organizations are exploring creating their own insurance companies. For CFOs and risk management professionals starting a captive insurance company can be appealing but what is the price of admission? Understanding the cost to set up a captive insurance company is not just about the initial check to […]
A captive insurance company is an alternative to a traditional insurance company and the real difference comes down to who benefits from the policy. At its core, when you set up a captive insurance company, it changes where your insurance dollars go. By transitioning from a buyer to an owner, your organization can turn a […]
At Gregory & Appel, we often get asked about risk retention groups and what makes them a smart choice for businesses facing unique liability challenges. Risk retention groups (RRGs) provide a valuable alternative to traditional insurance by offering customized risk management and loss control strategies tailored to niche liability coverage. Since 2000, RRGs have grown […]
