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IMAC Captive Basics Course Group Captives October 19, 2011

IMAC Captive Basics Course Group Captives October 19, 2011. Traditional Group Captive Structure. 2. Insured. Broker. Policy Issuing Carrier. Captive. Excess Reinsurer. TPA. Loss Control. Claimant. Group Captive Flow. Profits. About the Captive. Homogeneous vs heterogeneous

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IMAC Captive Basics Course Group Captives October 19, 2011

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  1. IMAC Captive Basics Course Group Captives October 19, 2011

  2. Traditional Group Captive Structure 2

  3. Insured Broker Policy Issuing Carrier Captive Excess Reinsurer TPA Loss Control Claimant Group Captive Flow Profits

  4. About the Captive • Homogeneous vs heterogeneous • Frequency vs severity layers of loss funding • Member participation & use of committee structure • Premiums based on loss experience, so management of claims and loss prevention is critical • Underwritten so that only good risks are accepted • Return of unused loss funds and investment income • Members help the captive to grow

  5. Statutory Umbrella Excess Limit Statutory Workers Comp. GeneralLiability Auto Retention Basket & Clash Coverage Included Captive Retention Specific Excess Insurance

  6. Experience Adjustment Aggregate Excess Insurance Loss Fund How Is the Captive Protected?

  7. Collateral Collateral Functions Member to member obligations Capitalizes the captive Collateralize policy-issuing carrier

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