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 […]
When it comes to managing your business’s liability insurance, exploring alternatives beyond traditional coverage can open up valuable opportunities. Two popular options are risk retention groups (RRGs) and captive insurance companies. Both offer ways for your business to pool risks, reduce costs, and gain greater control over their insurance programs. Understanding how they differ will […]
Before defining group captive insurance, let's first answer the question, "what is captive insurance in simple terms?" Captive insurance is an alternative to traditional insurance where a business provides coverage for their own insurance risks by joining or forming their own licensed insurance company. When a business forms their own captive without anyone else, this […]
At Gregory & Appel, we often get asked, "What is captive insurance, and how can it help my business?" Captive insurance is when a business, or group of business, join together to create their own insurance company that they collectively own. Captives give businesses more control over their insurance and risks. They can cover things […]
Captive insurance, often referred to as a “captive,” is an alternative to traditional insurance where a company or group of companies provide coverage for their own risks by forming their own licensed insurance company. The term “captive” originated in 1962, when engineer-turned-insurance-broker Frederic Reiss founded the first captive insurance company as a way to retain […]
