Maybe you have heard this buzzword and are unsure of what it is, or if it’s a good option for you to consider.

A Group Captive is an insurance company owned by its members for the benefit of its members, and the primary purpose is to insure the risks of its owners. The insured benefits from the underwriting profits of the captive insurer.

Group Captives serve as an alternative to the traditional insurance marketplace and are a good fit for financially stable businesses with favorable loss ratios who are committed to risk management and safety.

Our team of specialists can run an analysis that groups and layers your data to show a stratification of your prior loss history. We take this data, put it into a captive model to look at analytics outcomes to determine what your results would have looked like if you had been in a captive for the last five years. We can help determine if you are a good candidate for our Group Captive program, or should remain in the traditional marketplace.

The main benefits of a Group Captive include:

• Improved services
• Stability in pricing and insurance coverage
• Improved loss forecasting
• Mass purchasing power
• Reduced overhead
• Improved loss control

If your business experiences any of the following challenges, a Group Captive may be a good fit:

• Overpayment of premium
• Unstable pricing
• Lack of control of claims
• Paying for competition’s losses
• Little incentive to improve

Contact your local Cadence Insurance representative to discuss your opportunities and learn how Group Captives may improve your bottom line.

If you are interested in learning more about Employee Benefits Group Captives, click here.