About Garnett Captive
Garnett Captive and rent-a-captive insurance programs are an alternative to
traditional fixed-cost insurance products. Garnett Captive insurance programs grant employers the
ability to retain the profits normally assumed
by the insurance carrier. These programs can take
the form of either a single parent captive that
is utilized by a single employer, or a group,
or member owned, captive that is shared by two
or more unrelated employers. Garnett Captive
Garnett Captive insurance will give you the ability and freedom you need to take on any emergency or experience.
The key advantages of a captive insurance program
are reduced insurance costs, greater control,
and greater flexibility in choosing service partners.
Garnett Captive insurance programs can be more expensive if losses exceed expectations. Therefore, captive programs are typically advantageous when an employer is:
Able to control or reduce losses through proactive management
Financially strong
Willing to understand the nuances of a more complex insurance program
Under these circumstances, the ultimate cost is generally lower.
Working with insurance agents and brokers to
provide an alternative to expensive fixed cost
insurance for their clients, they structure programs
that meet the needs of commercial employers of
varying sizes. Our programs offer employers access
to greater control, improved stability and long-term
cost reduction. With a proven record of creativity
and success, our programs offer a unique solution
in a challenging insurance marketplace.
If the following are true for your clients, you should talk to us about exploring captive options.
Superior Loss History
Strong Financially
Increasing Premiums
Single Parent Insurance
By forming a captive, large employers can benefit
from an insurance program with increased control
and reduced cost. Workers compensation is the
line of coverage garnering the most attention,
but captive insurance programs can also be structured
to incorporate general liability and auto liability.
We have had success forming insurance programs
for a variety of industries, including: Contractors
Agriculture Security Firms Nursing Homes Transportation
We can create a customized program that meets
the needs of each employer. We can determine the
optimal blend of risk retention and risk transfer,
as well as help select service partners that fit
the unique needs of each employer.
The insurance industry provides stability to
employers by pooling large amounts of diversified
premiums. Insurance companies make a profit by
charging more in premiums than they pay out in
losses. Insurance companies also make significant
income by investing premiums until the funds are
necessary to pay losses.
A group insurance seeks to pool a number of like
minded employers in an effort to create a more
sizeable, and therefore predictable, volume of
premium. By achieving this critical mass, each
member of the group can receive the benefits normally
reserved for large employers.
The risk management techniques of risk transfer,
risk sharing and risk retention are tied to the
predictability that comes from the law of large
numbers. Depending on the “predictability”
of certain exposures and the premium base, these
different techniques can be implemented to reduce
the cost of insurance.
For more information, please contact us or review
our detailed explanation of captives, or why captives
make sense in the current insurance market.
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