Group captive commercial insurance programs were created because the traditional market was not adequate for discriminate insurance buyers. Larger commercial operations with good claims history were paying higher premiums to support the poor claim performers. In return, savvy business owners with good claims experience were seeking alternative methods to insure their operations with enhanced coverage's coupled with “fair” premiums to pay.
Insurance is cumbersome and complex to most organizations. Renewals, experience modifiers, audits, coverage options, and components of this negotiation cost upper management significant time and money. At Parrish & Gwinn, we can prove to you and your team that a captive takes a fraction of the time to manage, provides better coverage, and could generate substantial wealth for the company or the owners.
With a few minutes of your time, we can show you the advantages to owning your own insurance company and just how easy it can be to control your insurance destiny.
Being in a group captive is not an opportunity afforded to all companies. Only those with good loss ratio’s, strong financials, and an emphasis on the safety of their employees are eligible and deserving. Being the “Best in Class” is a tough concept to define for sure, though given the company we keep and the clients we insure – “Best in Class” is who we surround ourselves with.