Press Release

IRMI Releases 2nd Edition of Captives and the Management of Risk

Dallas, TX, March 8, 2006—In today’s marketplace, risk and insurance professionals are forced to take a hard look at alternative risk financing programs, including captives. Dallas-based International Risk Management Institute, Inc. (IRMI), is pleased to announce the second edition of its book, Captives and the Management of Risk, an insightful guide to the captive insurance alternative.

Captives and the Management of Risk is designed to help newcomers and risk funding veterans alike understand the pros and cons of captives and apply proven concepts for strategic success. This comprehensive book breaks down the complex topic of captives, revealing the types of risk that can be handled by captives, why captives can be effective, tax and accounting considerations, how to determine if a captive is feasible, how to choose a domicile, and how to manage and operate a captive. Captives and the Management of Risk is valuable for covering the basics for insurance and risk management novices, as well as refreshing veterans on how these subjects relate to captive insurance.

The author, Kathryn A. Westover, is well known for her knowledge and management of captives. She is a graduate of Oxford University, England, and has more than 20 years’ experience specializing in alternative risk transfer programs. Ms. Westover is vice president of Innovative Captive Strategies, a captive consulting and management firm, and has served as an adviser to the Washington, D.C., Department of Insurance and Securities and is the Barbados International Business Representative. Jack Gibson, president of IRMI, said, "Ms. Westover’s analysis of captive issues and the marketplace will help you recognize whether a captive is the best risk management option, and show you what it takes to establish a successful captive insurance company."

Captives and the Management of Risk, 2nd ed., is available through IRMI by calling 800–827–4242 (in Dallas 972–960–7693) or by visiting www.IRMI.com and clicking on "Products and Services." The price of the book in print is $62.