Captive Planning Associates brings together the diverse experience and expertise of professionals that include attorneys, CPAs, management consultants, and risk managers, in order to manage the complexities and issues associated with forming and managing a captive insurance company.
In the way Captive Planning operates, the client remains in control while the management and staff of CPA take care of the day-to-day details. In effect, CPA will undertake the main functions of an insurance company, including underwriting, claims handling, books and records, and regulatory reporting.
With extensive knowledge of leading insurance and risk management programs across many industries, we can quickly assess clients’ captive risk management needs, as well as whether existing or potential captive programs meet a client’s risk management philosophy and strategies.
Through our interdisciplinary approach to risk management, we provide preliminary analysis of your company’s current state, to preparing in-depth feasibility studies which incorporate independent actuarial risk assessment, to complete turn-key implementation of corporate best practices risk mitigation programs.
Captive Planning provides comprehensive assistance to clients from the preliminary planning stages, recommending the most appropriate 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 (i.e., Actuarial, Accounting)
- Incorporation documents
- Highly specialized products
We understand that our clients’ time is limited by the demands of running and operating their business. With this in mind, Captive Planning has developed a wide range of services to assist clients in the administrative details involved with running a captive insurance program such as:
- Keep books and records up-to-date
- Preparation of internal financial statements and reports
- Statutory reporting and monitoring
- Liaise with the proposed insureds captive management team
- Monitoring the marketplace
- Regulatory compliance
- Insurance-related services – including policy drafting and some claims adjudication (if applicable, liaise with third party administrator along with the proposed insureds captive management team);
- General administration including preparation of materials for board meetings and operations manuals; and
- Liaison with other captive service provider(s)