Captive Insurance Frees Businesses Of Traditional Insurance Limitations

Mar 22, 2018 - 12:02 PM
For Immediate Release
You’ve spent years building your closely-held business, and the unexpected happens.
An explosion at an overseas factory cuts your apparel supply. An earthquake in the northwest knocks a key business partner out of commission. Your island facility is wiped out by a major storm, or South Florida gets hit by a category four hurricane throwing everything in peril, disrupting your business.
You discover that your business insurance carrier won’t cover what you need to keep operating: paying suppliers, vendors, partners — and meeting payroll. What to do?
Wayne Jenkins, president and founder of CaptiveOne Advisors, LLC, says there’s an answer: captive insurance managed by CaptiveOne.
“Captive insurance sets business free in so many ways and business owners are just starting to become aware of its capabilities,” Jenkins says. “It can save your business from interruption by those ‘black swan’ events beyond your control that your existing carrier won’t cover. While Fortune 1000 companies use captives all the time, many sophisticated owners of closely-held businesses don’t realize how they can benefit the same way. We’re on a mission to help businesses do just that.”
In its simplest form, captive insurance works like this:  a parent corporation with one or more subsidiaries creates a wholly-owned captive insurance company (the “captive”), which insures certain risks of the parent and affiliates. When your business manages risks well and is able to avoid catastrophic events, unused premiums accrue within the captive and can be invested.
A 30-year veteran of the insurance industry, Jenkins launched CaptiveOne in 2005 to serve business around the nation from its offices in Wellington and Wilmington, Delaware.
Jenkins explains: “Insurance companies may cover loss to your building, but not supply chain disruptions, business interruption, and unforeseen consequences from natural disasters. I have seen captive insurance allow businesses to keep their doors open. A business owner knows its risks better than anyone.  We help craft the solutions and manage your insurance company.”
He continues: “Although you control your insurance company, we manage it and provide the assessment, underwriting, actuarial, and claims management team that most businesses don’t employ themselves. We create strategies that can help you see your company through those unforeseen events, and structure your captive insurance company so you can reinvest unused premiums and build equity. You are in the saddle, but we do the work.”
CaptiveOne employs a deep bench of insurance industry professionals and technical specialists, including sons Bryan and Steven, who grew up in Wellington and in the insurance business.  Those hometown roots and desire to give back prompted CaptiveOne to become an Official and Major Sponsor of the 2018 Winter Equestrian Festival (WEF) and Title Sponsor for the FEI 5* Grand Prix and Grand Prix Freestyle Dressage competitions.
“This is an iconic, world-renowned event and we’re thrilled to put our name behind it,” Jenkins says.  “It’s a great experience for our children and families, and a perfect way to showcase Wellington for visitors and businesses from all over the world.”
To learn more about CaptiveOne, visit www.captiveone.com or call 800-781-4301.

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