Learn what it takes to establish a successful captive insurance company—one
that sets the standard and withstands the test of time.
Author Kathryn Westover has set up and managed more than 50 successful
captives during her 20-plus years of experience. This book explains how captive
insurance is used and outlines the decisions and actions that must be made to
structure and operate a captive insurance program that withstands market
cycles.
When the first edition was printed, buyers of property and casualty
insurance were still dealing with the impact of a hard market. The second
edition arrives at what may be the tail end of a prolonged soft market
cycle.
The book has been expanded to address these questions with an additional
"accepted practice" specific to how captives invest their assets and
a case study that shows how successful captives adapt to a changing operating
environment. For the newcomer to captive insurance, there is also a new
introduction that defines captive insurance and its purpose and provides an
overview of the different types of captives.
If you are wondering, "Is my captive being operated in such a way as to
meet my (or my client's ) business objectives?" this book is for you.
Learn what it takes to establish a successful captive insurance company, one
that sets the standard and withstands the test of time!
Captive Practices and Procedures covers these topics.
- The Foundation: Structuring a
Captive Insurance Program
- Ownership and Organization Choices
- Feasibility Studies
- Writing the Business Plan
- Organization
- The Framework – Building the Captive Service Team
- Protecting the Captive
- Establishing Operating Procedures
- Maintenance – Overseeing Your Captive Insurance Company
Operations
- Developing Financial Savvy
- Developing Investment Savvy
- Developing Accounting Savvy
- Developing Regulatory Savvy
- Adapting to the Environment
- The Insurance Response
- The Dynamic Captive – A Case Study
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Table of Contents
Agents, Brokers and Account Support Staff
- Advise clients on captive best practices.
- Provides third-party authoritative support to your
recommendations.
- Helps evaluate capabilities and governance structure of group and
rental captives.
Risk Managers, Financial Executives & Insurance
Buyers
- Helps evaluate the capabilities and governance structure of group and
rental captives.
- Learn how to use the components of a feasibility study to develop a
strategic business plan.
- Gain a better understanding of captive financial reports.
- Get suggestions for assembling a superior captive management
team.
- Develop a procedures manual that will actually be used.
- Turn regulatory compliance from a negative into a positive.
- Use performance analyses to reinforce stakeholder satisfaction.
Underwriters
- Gain a better understanding of captive financial reports.
- Insight into best practices will help you evaluate fronting
opportunities.
Attorneys
- Insight into best practices will help you advise clients.
- Gain a better understanding of captive financial reports.
- Learn nuances of corporate governance for captives.
Consultants
- Helps evaluate the capabilities and governance structure of group and
rental captives.
- Help your clients develop strategic business plans for their
captives.
- Gain a better understanding of captive financial reports.
- Get suggestions for assembling a superior captive management
team.
- Develop a procedures manual that will actually be used.
- Learn how to turn regulatory compliance from a negative into a
positive.
- Develop and use performance analyses to evaluate captives.
Your purchase of the online version of Captive Practices and
Procedures comes with a digital copy of the Contractor's Guide
to OCIPs - a handy reference that provides guidance on 39 issues
contractors should consider when accepting coverage through a wrap-up or
controlled insurance program. This publication was prepared by the OCIP
Task Force of the AGC of America.