Captive Insurance

Captive insurance is a form of self-insurance where a company creates its own insurance company to manage its risks. Instead of buying coverage from a regular insurer, the company funds this captive entity to handle specific risks like property damage or liability. This approach can offer cost savings, more control over claims, and tailored coverage. Essentially, it’s a strategic way for businesses to insure themselves, manage risk more effectively, and potentially reduce insurance costs, all while maintaining oversight and flexibility over their insurance needs.