Benefits of Captive Membership
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Ownership and control of insurance costs
- Professional partners are hand-selected by captive owners
- Captive members control how their specific claims are managed
- Loss control services are customized to meet members' needs and reduce risk
- New members are identified and approved by captive owners
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Reduced overall costs
- Contributions are based on your company's expected losses
- Premiums are likely to be more stable from year to year
- Members have the ability to retain investment earnings and underwriting profit
- Fixed costs are controllable and can be reduced
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Improved insurance program
- Enhanced coverage, marketability, and cost control
- Forum for exchange of ideas, learn from fellow members' experiences
- No surprises in the renewal process, no bidding upheaval
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Key benefits of participating in a captive program:
- Greater control of insurance programs
- Stable insurance costs
- Enhanced coverage
- Aggressive claims management
- Specialized loss control services
- Potential to receive underwriting profit and investment income