Captive Insurance

Self-Insurance for Unique Businesses

Captive insurance, in the simplest terms, is a type of self insurance in which the insured fully owns and controls the company. The purpose of a captive is to insure the risk of its owners and in return, the insured reaps the benefits of the underwriting profits.

This unique type of insurance is ideal for people who want to:

  • Seek solutions outside the commercial insurance marketplace
  • Accomplish their risk financing objectives
  • Invest their capital into their own insurance company

 

This means that anyone who choses captive insurance has to have the ability and be willing to invest their own resources into the company. The benefit is that the insured owns the company and the profits.

Other benefits of captive insurance are:

  • Extensive coverage
  • Pricing stability
  • Enhanced cash flow
  • Greater control

 

Why would someone want to operate outside of the traditional commercial insurance marketplace?

There are both risks and rewards to operating outside of the traditional insurance marketplace.

The insured who chooses to participate in captive insurance must understand the risks using their capital as protection against liability.

It is not uncommon for people to look to a captive as a solution because commercial is not available to them, or because captive insurance is a better solution. It may also provide coverage for difficult risks uniquely tailored to the needs of the insured.

Are you interested in finding out if a captive insurance is the right solution for you? Contact Jeff Boardman, Business Insurance Manager, by emailing JBoardman@yurconic.com or by calling 610-770-6600 Ext. 105.

Let’s discuss your captive insurance.

One of our insurance advisors will reach out to you to review your information and present you with the appropriate captive insurance solution. There’s no obligation, just good-old-fashioned advice.
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The Yurconic Agency offers comprehensive captive insurance in Greater Lehigh Valley including Allentown, Bethlehem, Easton, Northampton, Nazareth and Lehighton and also Sinking Spring, Reading, Pottsville and Hazleton.