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 […]
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 […]
