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Captives and the Management of Risk

By: Kathryn A. Westover
 

The cost of IRMI application products depends on the size of your organization. The size ranges are as follows.

  • 1-9 Employees
  • 10-30 Employees
  • 31-60 Employees
  • 60+ Employees - Contact us for a quote!

To subscribe to an IRMI product, you can purchase either a single-seat license for an individual, or an unlimited group license for everyone in your organization. The cost depends on whether your firm qualifies as a "Small Business" or a "Large Business" under the definitions in the following table.

Item Individual Small Business Large Business
Users 1 Unlimited Unlimited
Agency/Brokerage Any size Under $10M Revenue $10M+ Revenue
Insurance Company Any size Under $100M Premium $100M+ Premium
Law Firm Any Size Under 10 coverage Lawyers 10+ Coverage Lawyers
Risk Mgmt. Dept. Any Size Any Size N/A
Other Organization Any Size Under 100 Employees 100+ Employees

All IRMI subscriptions are annual. Most subscriptions offer two ways to pay.

  1. Monthly: The full annual cost is broken out over 12 monthly installments that are billed to your credit card each month.
  2. Annual: Get 5% off the full annual cost if you choose a single payment billed to your credit card once per year.

Note that the monthly payment option and the subsequent 5% discount for annual payments are not available on some products.  

Captives and the Management of Risk

Product type: 1 Year Subscription

Publication Date(s): 2002, 2006, 2014

Part of: Books Package

Discount: Prices shown include a 5% discount for choosing the annual payments option


Summary

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.
Bonus Publication Icon

Your purchase of the online version of Captives and the Management of Risk 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.

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