Captive Insurance Management & Alternative Risk Transfer
Synergy Captive Strategies, LLC provides innovative captive insurance formation, management and alternative risk transfer strategies for middle market companies. Alternative risk transfer structuring allows companies to reduce insurance costs, control risks and increase cash flow. Our team of highly qualified captive managers, actuaries, CPAs, financial advisors and attorneys allows us to provide our clients with turn-key captive formation and management services.
What is a Captive Insurance Company?
Captive insurance companies are insurance companies formed by a business owner or a group of business owners to insure the risks of related or affiliated businesses, rather than relying on an outside commercial insurance company to provide coverage. Captives come in many forms. The “pure captive” model is a captive insurance company that has a single owner which it insures. An “association captive” is a captive insurance company that is generally formed by a trade association or members of an industry to provide insurance for members. An “industry captive” is similar to an association captive in that it is owned by organizations within the same industry. These are often relied upon to solve a specific insurance problem, such as covering a liability for which insurance is not readily available within the commercial market. Other types of captives include “diversified captives” and “agency captives,” both of which are useful in very particular scenarios.
The Turn-key Approach
At Synergy Captive Strategies, we provide our clients with all the administrative, underwriting and operations support they need to create and manage their captive insurance company. Our team of professionals will help you to select the best captive structure and domicile to meet your business and risk management needs.