Captive Solutions companies are those who offer or provide insurance and insurance alternatives to those companies and businesses who cannot otherwise afford or obtain insurance options such as liability insurance, malpractice insurance, and more. Some of the reasons that a company would need Captive Solutions for their insurance needs are credit problems, heavy and/or increasing insurance premiums, and difficulties in getting a company to cover them. You and your business can either join a captive insurance company, help to form a captive insurance company, hire a captive insurance specialist, or even start a captive insurance company for others; you will just need to keep in mind the fact that all captive insurance companies are regulated by state and/or federal law.
Captive Solutions insurance companies can help cover liabilities that other insurance companies cannot or will not cover. Since there are many different kinds of businesses, insurances, and liabilities there are also a lot of different kinds of captive insurance companies. While researching your insurance options you will undoubtedly come in contact with single-parent captives, rent-a-captives, risk retention groups and others. Each kind of captive insurance company will have it’s own strengths and weaknesses and when researching which kind of captive to invest in you will want to thoroughly examine many different kinds of captive insurance companies to ensure that you are getting the best coverage possible.