Medical Stop Loss
To meet members’ growing needs, Captive Resources formed a member-owned group captive which provides employers a unique option for their self-insured medical stop loss coverage. The group captive offers its members flexibility to tailor their specific health benefits programs to their unique requirements. In addition to providing dividend potential within the captive structure, members are able to:
- Assimilate their current plan design;
- Choose the specific stop-loss limit that fits their company best;
- Select their own claims administrator; and,
- Access local, regional and national PPO networks.
Members have access to exceptional wellness initiatives, helping them manage their total health care expenditures, including costs below their specific retentions, where the bulk of their health care dollar is spent.
Members of the casualty group captives are eligible to join a property captive which offers competitive pricing and broad coverage along with the significant buying power and price stability of a large program with insured values in excess of $100 billion. The captive also provides its member-owners a unique “win-win” proposition by allowing for potential dividends in the event of favorable loss experience, but no assessment for adverse experience.
831[b] Micro Captives
Captive Resources’ approach to these smaller captives is aligned with its group captive concept, in that its focus is primarily providing the captive owner with a true insurance mechanism that provides greater control and management of harder to place risks. Micro captives formed under IRC Section 831[b] may also be structured to provide ancillary tax planning benefits to the main business purpose, including: premium tax deductibility; no current taxation of underwriting profit; tax-efficient access to the captive’s invested funds to support retirement/buy-out planning; and tax-efficient wealth transfer to heirs. Captive Resources has the expertise to help your company assess its individual needs and structure a captive to reflect its unique circumstances. Click here to learn more.
Kensington Management Group, Ltd.
Kensington Management Group, Ltd. (“KMG”) is a licensed captive insurance manager based in the Cayman Islands, and sister company to Captive Resources. Based on premium volume, KMG is the largest independent captive manager in Cayman, with a diverse portfolio of single parent and group captives, representing approximately 10% of the total captive premiums written in Cayman. KMG is a full service management firm, providing feasibility study coordination; license applications; captive formation; regulatory reporting and liaison; cash management; accounting; investment portfolio coordination; audit and tax coordination; and registered office and corporate secretarial functions.
Health Care Risk Services, LLC, a Captive Resources company
Health Care Risk Services, LLC is a managing general underwriter (MGU) specializing in risk retention group (RRG) solutions for physician groups, individual health care practitioners and other industry groups. Its insurance professionals are experts in all facets of medical malpractice insurance. Services include program design and management, underwriting, claims management, and RRG management. Health Care Risk Services is the exclusive MGU of Oceanus Insurance, its largest RRG client.
Western Summit, LLC, a Captive Resources company
Western Summit, LLC is a specialty wholesale brokerage for professional health care liability. Its niche target market includes health care coverage for physicians and allied health care providers and health care facilities. Western Summit has worked closely with Health Care Risk Services for many years, developing opportunities in the health care sector.
Do you have more questions regarding group captives? Contact our experts online or over the phone at (847)781-1400.