Reveals the types of risk a captive can handle, how to determine if a
captive is feasible, how to manage and operate a captive, and more!
This new third edition, 264-page book will help you understand what captive
insurance is and why it is used in the risk management process. It reveals the
types of risk that can be handled by captives, why captives can be effective as
a risk management tool, 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.
Westover will guide you to answer the question every risk manager should be
able to answer (or every broker should be able to explain for their client):
"If I have a captive, why? If I don't have a captive, why
not?"
Captives and the Management of Risk covers these topics.
- Introduction: Alternative Risk
Financing Mechanisms
- Understanding Risk
- Insurable Risk
- Managing Risk
- Financing Risk
- Captives as Risk Retention Mechanisms
- Reducing Risk Financing Expenses
- The Financial Impact of Captive Insurance
- Captive Retention Management Policies
- Captives as Risk Transfer Mechanisms
- Protecting the Captive
- Captive Reinsurance
- Nonconsolidated Options
- The Legal Environment of Captive Insurance
- Forming a Captive
- Operating a Captive
- Future Directions
Download
Table of Contents
Agents, Brokers, and Account Support Staff
- Will help you advise clients on whether or not they are a good
candidate for a captive.
- Answer tough questions posed by your insureds.
- Great instructional tool to help learn about captives and the types
of accounts that fit.
Risk Managers, Financial Executives, & Insurance
Buyers
- Evaluate whether or not your firm might be well served by a
captive.
- Utilize the formula provided to choose the best domicile for your
captive.
- Learn how to manage and operate a successful captive.
Underwriters
- Will help you advise on whether or not an insured is a good candidate
for a captive.
- Answer tough questions posed by your agents/brokers and
insureds.
- Great instructional tool to help learn about captives and the types
of accounts that fit.
Attorneys
- Learn captive basics to enable you to provide good advice to your
clients.
- Develop an understanding of how to evaluate the feasibility of a
captive.
Consultants
- Understand the elements of a thorough feasibility study.
- Help clients choose the best domicile for their captives.
- Provide solid advice on captive management and operations.
Your purchase of an IRMI reference product includes a complimentary
subscription to The Electronic Owl e-newsletter. You'll
receive a monthly update with links to new content and tips on how to
get the most from your IRMI resources.
Your purchase of the online version of Captives and the
Management of Risk comes with a digital copy of the
Contractor's Guide to CIPs—a handy reference that provides
guidance on 38 issues contractors should consider when accepting
coverage through a wrap-up or controlled insurance program.