Basics of Captive Insurance Companies: An Alternative Risk Financing Tool
K. Max Koonce, David Stills, and Chris Mandel
For almost 20 years, risk managers have enjoyed a soft insurance market where transferring risk to the insurance market through traditional insurance was inexpensive. In this low rate environment, many insureds chose to insure below their risk-bearing capacity, as insurance was an efficient spend and use of capital. While captive insurance company usage was active during the soft market, widespread interest in captives is most prevalent during a hard market.
In today’s hardening ...
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