Andy Gernold Captive Services Director View Bio

What is Captive Insurance?

Converting premiums into retainable assets and taking back control over risk financing is the dream of many organizations that see their monthly insurance bills eat up revenue.  Did you know — there is another way? 

Welcome to captive insurance. 

Simply put, captive insurance is its own insurance company of joint businesses that pool risk, but are rewarded with the profits that otherwise would have gone to the standard insurance companies. If captive insurance seems like the right fit for you, our in-house captive professionals at Lawley will assess your business and make the process as easy, and as beneficial as possible. And don’t let your current broker fool you; there are captive options for both the benefits and business side of insurance.

Ideal Captive Candidate Checklist. Do You Make the Cut?

  • Are you committed to safety and loss prevention?
  • Do you have a history of remaining financially secure?
  • Do you have a good track record when it comes to claims experience?
  • Do you want more control over the claim management process?
  • Do you seek long-term solutions to protect your bottom line?

If your answers are yes, captive insurance could be the ideal program for you.

Will Captive Insurance Provide Any Additional Advantages?

Retaining profits that would normally go to insurance companies and limiting unexpected losses are not the only benefits that captive insurance has to offer. The captive approach also provides long-term rate predictability and coverage availability, gives direct input in the claim management process, and grants ownership to businesses over their own insurance program. Essentially, rates are based on the individual member’s experiences, which optimistically speaking, results in the chance of receiving back over 50 percent of premiums paid.

Considering Captive Insurance?

If your organization checks off the boxes in the ideal captive candidate checklist, please reach out to us. The captive insurance teams at Lawley can evaluate your situation, review your current insurance and benefits packages, and see if you could become the next member of our captive programs.