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90% of Fortune 500 companies have a captive insurance company managing their insurance risks. Because of the complexities of captive insurance, it is important to partner with experienced and qualified service providers.
Specialty Captive Group is one of the premier managers and consultants for single parent captive insurance companies, and our team of experts understands the ins and outs of a complicated program that is growing into all different areas of insurance, like health, employee benefits, and property/casualty. Learn how single parent captives could be a good option for your company.
What is a Single Parent Captive?
Single parent captives, also known as pure captives, are insurance companies that are owned and controlled by a single corporation, i.e. a parent company, to insure or reinsure their own risks. The primary features with single parent captives are their flexibility and control. Businesses set up these captives to allow for more flexibility in their risk management strategies, cost structure, and even the type of insurance coverage they can receive.
Single parent captives are the most common type of captive. They are wholly owned and operated by the parent company and its shareholders, and there are no limitations on coverages, making them a cost-effective option for big corporations in a variety of industries.
Who Needs Single Parent Captive Insurance?
Any business could technically create a captive program, but they are most effective for larger companies with a frequent amount of claims or for risks where there is not a cookie cutter commercial policy available to them on the market. Since flexibility is key with single parent captives, you can customize the insurance you receive, depending on the type of business you run. This allows your business to get the most out of your insurance policies and can be a cost-effective way to get highly specific coverage.
Why Work with SCG for Single Parent Captive Insurance?
You need an experienced captive team in your corner who understands your business and who is always up on the latest developments and opportunities. For 30 years, Specialty Captive Group has provided risk management solutions to our clients. With over 100 single parent captives working with us, SCG’s captive team has a global practice focused on the unique insurance needs of our clients.
Because of the flexible nature of single parent captive insurance, we know how to develop customized risk management programs to help clients mitigate their challenging insurance risks. We balance innovative programs with a turnkey process to allow you a seamless experience.
Coverages
- Workers Compensation
- Auto Liability/Auto
- Physical Damage
- General Liability/Products Liability
- Professional E&O Liability
- Medical Professional Liability
- Property
- Umbrella Buffer Liability
- Medical Stop Loss
- Voluntary Benefits
- Environmental Liability
- Product Recall/Product Withdrawal
- Contingent Business Interruption
- Loss of Key Supplier/Loss of Key Employee/Loss of Key Customer
- Reputational Value Insurance
- Administrative Actions
- Defense Cost Reimbursement
- Deductible Buydowns
- Warranty/Extended Warranty
Coverage Eligibility
- Proven Track Record of strong cash flow and financial results
- Loss Ratio Less than 60%
- Premiums Greater than $300,000 for any one line of coverage
- Entrepreneurial
- Assuming Risk Already or Willing to Assume Risk in the Future
Policy Highlights
- Underwriting Profit Distributions
- Access and Insight into Root Cause of Loss Data
- Control over Risk Management Program
- Access to Reinsurance Market
- Selection of Service Providers
- Risk Financing and Timing Benefits
- Long Term Stabilization of Insurance Premiums
Intake Form
To submit an Intake Form:
- Click on “Download Intake Form” button below to get Form
- Complete the Intake Form and Save it.
- Email the completed Intake Form to:
Speak to an Expert
Evan Muffly
President
Specialty Captive Group, a division of Specialty Program Group
John Yaple,
Director of Captive Insurance
Specialty Captive Group, a division of Specialty Program Group
