Captive insurance is the pinnacle of risk management. In general, captive insurance is a form of self-insurance with a litany of financial advantages. Surprisingly, captive insurance eludes a basic definition since the Internal Revenue Code declines to define the term “insurance.”
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Just about any captive involved with controlled lines will end up dealing with fronting arrangements. Controlled lines are lines of insurance that are regulated by the state. The most common examples include workers compensation, healthcare benefits, and automobile insurance.
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831(b) captive insurance companies are under scrutiny from the IRS. The driving reason behind this is that these mini-captives are powerful tools which have the potential to create massive tax savings if structured in a certain manner. As a result, careful planning
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Let’s get ready to ruuuumble! In the right corner of the insurance ring we have Risk Retention Groups RRGs) and in the left corner we have Risk Purchasing Groups (RPGs). Both alternative risk finance options have gained momentum over the last two decades.
Read MoreEverybody hates insurance! Or at least that’s the perception. It’s the thing states crams down your throat like Buckley’s cough medicine, insisting “It’ll make you feel better”. Yes, sure it will if you can retain it! Like Buckley’s, most of the country is only familiar with the “popular” insurance carriers.
Read MoreRisk Retention Groups and Healthcare.
High healthcare cost is the biggest plague on American pockets! From the cost of operation, to service, to coverage, there is no bottom to this money hole. Companies across the land are using all forms of creative collaboration to try an effectively and efficiently address healthcare needs.
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