Our Services
When it comes to matters of corporate responsibility, organizations have very specific concerns. Likewise, the needs of organizations vary widely, depending on their particular location, business, and industry. To help us respond to our clients requirements effectively and efficiently, Captive Planning Associates offers a broad range of turn-key captive solutions that are clustered around two major service areas: Captive Formation and Captive Management.
1. Captive Formation - providing comprehensive assistance to clients from the preliminary planning stages, recommending the best form and structure of the captive, through the formation and licensure. We assist clients by providing the following services:
- Captive feasibility study
- Loss trends and reserves
- Customized insurance and reinsurance programs
- Domicile selection
- Business plans and financial projections
- Service provider relationships
- Incorporation documents
- Highly specialized products
The formation of a captive takes a bit more thought than the standard insurance renewal. The client is forming a company which will be a central part of its risk management strategy, allowing it to take better control of its risks.
Typically, clients that establish a captive employ specialist managers who ensure the captive meets the organization's objectives and is regulated in accordance with the requirements in the chosen domicile.
2. Captive Management - delivering superior captive management services and communication among and between key players covering all aspect of operating the captive once organized. Captive Planning understands that your time is limited by the demands of running and operating your business. With this in mind, we have developed a wide range of services to assist you in the administrative details involved with running a captive insurance program such as:
- Financial statements and reports
- Statutory reporting and monitoring
- Managing service providers
- Statistical and actuarial analysis
- Monitoring the marketplace
- Regulatory compliance
- Insurance-related services - including policy drafting
- General administration including preparation of materials for board meetings and operations manuals
- Liaison with other captive service provider(s)
Our experienced professional staff is accustomed to handling the unique needs of captive insurance companies. In our programs, you remain in control while we take care of the day-to-day details. In effect, the managers undertake the main functions of an Insurance company – underwriting, claims handling, accounting and investment.
