Captives – Alternative or Obstacle. Captive Primer Presented by John Yonkunas. November, 2003. Captive. Unfunded Self Insurance. Deductible Plan. Retro Plan. Guaranteed Cost . Risk Financing Continuum. Captive Defined. A closely held insurance company controlled by its owners …
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A closely held insurance company controlled by its owners…
... offering insurance products or reinsurance support to its owners as the principal beneficiaries...
...and the owners-policyholders actively participate in decisions influencing underwriting, operations and investments.
Isle of Man 173
All other 40
Source: Best’s Captive Directory4,837 Captives Worldwide (Year-End 2002 Figures)
3rd Party Business
Risk Retention Groups
Rent-a-Captives (incl. Agency, Sponsored, and PCC)
Number of Captives
2003 vs. 2003
294 241Number of Captives by Type
Source: Best’s Captive Directory
Primary Claim Recovery
CoverageCaptives are Established to EitherInsure or Reinsure Risk
AgreementCaptives as part of an integrated and complex risk financing program