AP Captives: Teamwork for Claims Success

Nina ConnerCaptives

Posted by AP Captives, AssuredPartners Claims are a significant cost to any operation, and captives are no exception. However, an important benefit of captive membership is the control organizations can maintain over their claims-handling process. Let’s explore this concept in more detail using a real-life example where captive membership made a difference. Read AssuredPartners’ full article here: AP Captives: Teamwork for Claims Success

Risk Scores Impact Employee Benefit Costs

Nina ConnerCaptives

Posted by AP Captives, AssuredPartners Over the past several years, we’ve seen unprecedented medical inflation, causing many employers to ask how to control benefit costs and increase productivity. After exhausting the supply side of healthcare through decreased benefits, spousal carve-outs, etc., employers seem to be running out of options. One current strategy is to look at the demand side of healthcare – lowering employer and employee risks using wellness programs and improved population management. A company that can decrease claims through better benefits plan utilization can realize more favorable pricing through increased marketability and a larger number of interested carriers. Read AssuredPartners’ full article here: Risk Scores Impact Employee Benefit Costs | AssuredPartners

Captives: Claims Handling

Nina ConnerCaptives

By Denise Gillin for AssuredPartners For both property & casualty (P&C) and Employee Benefits (EB) captives, the strong focus on claim management is one of the most important membership benefits. Current clients sometimes say it’s how their claims are handled that tests the insurance coverage decisions they made. We agree. Having the right program is indeed the basis of successfully navigating an issue, and it’s important to address any concerns from “day one – minute one”. For the AssuredPartners P&C and EB Captives Vertical Service Teams, this entails looking at loss control and claims as a cycle of continuous improvement and being dedicated to providing services that include education, advocacy, availability, risk management service planning, and proactive claim management. Read …

Captives: Is Company Size a Factor?

Denise GillinCaptives, Risk Management

By Denise Gillin for AssuredPartners Captives have been a financial strategy for managing risk for decades. In the 1960s about 100 captives existed. Significant growth in this sector came in the 1970s as Bermuda became a leading captive domicile. Growth continued through the 1980s and 90s mostly due to the hard insurance market and increasing difficulty to find coverage for liability claims through traditional insurance. What initially started as a funding option for larger organizations’ property and casualty coverage needs has more recently changed to become more amenable to all business sizes as well as a mechanism to cover new and emerging types of risks. The most recent growth trend includes captives as a tool for employee health population management. …

Top Five FAQs Regarding P&C Captives

Denise GillinAlternative Risk, Captives, Risk Management

By Denise Gillin for AssuredPartners Why would an organization want to join a captive? That’s a great question, and the answer starts with understanding alternative risk management strategies outside those provided by traditional insurance programs. In simple terms, captives are member-owned insurance companies operating for the members’ benefit. For business owners who want greater control over their casualty insurance program, a captive can be a good option. It involves sharing risks with others, blending services and expenses through a custom-built program that is best for each member as well as the group. The top five frequently asked questions regarding captive membership are a good place to start exploring the possibilities of captive membership together. Tell me more>>>

Captive Growth Expected to Continue in 2022

Denise GillinCaptives, Risk Management

By Denise Gillin for AssuredPartners As long as COVID-19, natural catastrophes, and a hardened commercial insurance climate dominate news headlines, many sources anticipate the current captive market growth to continue through 2022. Evidence of the continued expansion is supported by Aon’s 2021 benchmarking survey results which shows captive and protected cell usage has increased across many industries in the past two years, with pronounced increases for hard-hit lines: property damage / business interruption, Directors’ and Officers’ and Cyber.* * Contents – Aon’s 2021 Captive Benchmarking Survey Read more>>>