Services: Captive Strategies
Construction Risk Partners remains committed to the development of tools, resources and intelligence that differentiate our clients from their competitors. The use of captive insurance companies has emerged as an effective strategy to assist contractors in achieving their financial and risk management goals. The benefits of captives vary based on the needs of each individual client, but some of the potential benefits include:
- Improved Net Income
- Tax Deferment
- Wealth Transfer
- Key Employee Retention
- Hard Market Management
CRP has developed a team of professionals that can assist clients interested in the potential use of captive insurance companies. These professionals are experienced in developing captive business through the entire captive process:
- Feasibility
- Business Plan
- Incorporation & Capitalization
- Start-up
- Operation (Compliance, Growth & Maintenance)
While the captive concept is well established, developing a strategy that helps companies address their construction risk management exposures and achieve their financial objectives requires the right combination of captive, risk management, actuarial, accounting and legal skill. Construction Risk Partners and our strategic partners have a track record of helping clients design and build these companies. We guide you through the process and help you answer the difficult questions:
- What financial and strategic goals do you want to accomplish?
- What type of captive is best for you?
- Where should your captive be domiciled?
- What risks should be insured?
Developing a captive requires an understanding of the answers to these questions as well as a commitment to understanding the intricacies of the process. Construction Risk Partners experience in assisting clients in the development of this capability will make you confident that your objectives are being achieved in a compliant, cost effective manner.