Information Relative to Captive Market
40% of major U.S. corporations and many multinational companies own one or more captives.
Intergovernmental insurance pools are technically captives owned by the public agencies they insure. However, they are not subject to the more extensive State regulations imposed on formalized captive insurers.
Potential industries that may benefit from the formation of a captive insurance company:
- Health Care Providers (medical malpractice/professional liability).
- Law firms (professional liability).
- Accounting firms (professional liability and other liability risks).
- Actuarial firms (professional liability and other liability risks).
- Trucking industry (auto liability and physical damage).
- Construction companies (home warranties, general liability, physical damage for trucks and equipment, etc).
- Large corporations (directors & officers and errors & omissions insurance).
- Public utilities (physical damage for property and equipment, general liability, professional liability, directors & officers, errors & omissions, etc).
- Auto Dealerships (Auto warranties, general liability, physical damage, etc).