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The number of success stories match the number of clients we have currently insured. The great thing about Parrish & Gwinn is, we only write accounts by placing them in their own captive. Therefore, we have documented proof on how great this can be for your organization. This is not something we think would work for you, or, we have seen it work for others; we know it will work, and we can prove it to you over and over again. We can then back that up by providing you with referrals to call our clients directly so you can ask them specific questions. I have listed a few common success stories that are exactly what our clients have experienced.
A contractor came to me in 2010 with a premium of $400,000. I reviewed his loss experience and came back with a captive offer that had better coverage for a premium of $125,000. The client had very few losses, our programs are rated on loss experience, not rate by state, by code. Of the $125,000 in premium, he was able to receive dividends and interest income on the premiums he paid in. This has amounted to a substantial sum of money each and every year. Now, this contractor has quadrupled in size from a sales, auto count, and payroll standpoint, and his premium is $150,000. Most importantly, he hasn’t even thought about insurance since 2010. It’s a permanent solution that is consistent.
A very well-known bakery began their captive in 2011 and since then, their revenues and employees have grown substantially. Their premiums on the other hand have decreased by 40% and they receive dividends on that premium of 60% each year. Another example of the tremendous savings that exists with owning a share of a captive insurance company.
A metal fabricator recently sold his company to a venture capitalist and retained the ownership of the captive share of stock. As a reward for owning a captive, he now will receive $750,000 in the next 5 years as his captive share pays out the dividends and interest income. If he was not in the captive, he would not have those dollars he spent on his insurance.
A contractor that joined in 2005 (paying $400,000 in the traditional market) pays $176,000 in premiums today with extremely broad coverage. Sales for the organization went from $15,000,000 to $120,000,000. If this contractor were to seek insurance in the standard market today, it would cost well over $1,200,000. This contractor has a SIGNIFICANT advantage over his competitors.
A large, self-insured client (trucking operation) joined a captive and saved millions in collateral. The group captive structure has a very efficient way of funding for collateral, so those dollars are not stacked for many years. They also saved a substantial amount of premium, earned tremendous dividends and interest income, and have solid predictable insurance for years to come.
Prequalification: Minimum Captive Premium Combined for WC, GL, Auto: $125,000 Minimum: $10M Sales and $3M Payroll Minimum Employee Counts for Captive Health Plans: 50 covered employees Favorable loss history
We take pride in the trust our clients place in us. Through real-life stories and testimonials, hear how our comprehensive insurance solutions have made a positive impact on their lives. From smooth claims processes to personalized service, our satisfied clients share how we’ve helped them protect what matters most.
"We've had a fantastic experience working with Mark for our general liability and auto insurance needs. As a mid-sized general contractor, we were looking for better coverage at a competitive price, and they introduced us to a captive insurance program that has been a game-changer. Their team took the time to explain the benefits, helped us navigate the process, and ultimately saved us a significant amount on our premiums. They are knowledgeable, responsive, and truly have our best interests in mind. We highly recommend them to any business looking for smarter, more cost-effective insurance solutions!"
Earning Underwriting Profits & Investment Income through Group Captives and Risk Management
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