From manufacturing and distribution, to construction, transportation, temporary employment agencies, retail, food and beverage production, hospitality, health care services, agri-business, and oil and gas well operations/services. The captives advised by Captive Resources reach businesses across a broad range of industries, in all regions of the country.
Above all else, what draws businesses to the Captive Resources model is greater control of their insurance destiny, realization of signiﬁcant cost reductions and long-term savings.
Other qualities that participants in Captive Resources-administered captives share include:
- Long-term ﬁnancial strength and stability;
- Management teams committed to safety, with solid safety programs in place;
- Loss histories that are average or better than average for their respective industries; and,
- Minimum casualty* premiums of $150,000. However, group captive members generally have annual premiums of at least $250,000, but can reach or exceed $15,000,000.
*Workers’ Compensation, General Liability, Automobile Liability and Physical Damage.
Homogeneous or Heterogeneous?
Captive Resources works with both homogeneous and heterogeneous group captives, believing there are advantages to both; ultimately the prospective member company chooses the type of captive with which it is most comfortable. Over the years, when forming new captives, Captive Resources has responded to meet market demand while maintaining its original vision of providing stability and control for the captive member-owners. This is evidenced by the diversity of our current captives.
Some of the industries for which homogeneous group captives have been formed include:
- Building Contractors
- Healthcare / Long-term Care
- Heavy Construction Contractors/Service Companies
- Redi-Mix & Heavy Truck Operations
- Roofing Contractors
- Oil/Gas Exploration and Services
- Staffing Agencies:
- Light Industrial
- IT and Professional
- Trucking – TL & LTL
- Student Transportation
- EMS / Patient Transportation
- Motor Coach Operations
- Shuttle & Limousine Operations
Captive Resources’ heterogeneous group captives typically include:
- Dealerships (Auto, Heavy Construction, etc.)
A new captive member wants to feel comfortable with its choice of captive, both as an owner of the company and as an insured. Although Captive Resources offers prospective captive members both heterogeneous and homogeneous captive options, both operate essentially the same way, i.e., with a similar unbundled service structure, same risk-funding formula, etc. When a prospective member company must decide which type of captive is the best fit for its business, Captive Resources will advise the potential advantages and disadvantages of each, and endeavor to provide the information the company needs to make a sound decision. Perhaps the prospective member feels that a homogeneous captive with loss prevention programs tailored to its specific industry will be more beneficial than a heterogeneous captive offering a greater spread of risk across various industries. There are a number of issues to consider but ultimately, it is the prospective member’s decision.