Broad Reach Risk: Prosper Through Change
Captive insurance can deliver advantages across a variety of risk scenarios. As entrepreneurs, we understand the needs of growing businesses and how insurance company ownership can help you profit from risk in an ever changing business landscape. A captive may be used to replace or supplement existing third-party insurance arrangements or to formally insure legitimate risks that a business may currently informally self-insure. Captives can issue property and casualty insurance coverage that protect against a wide variety of exposures as well as non-traditional coverages, permitting the business to manage risks while potentially providing substantial ancillary benefits to the related business and its owners.
Newer businesses that are moving into areas where historical industry loss data is unavailable will find challenges in accessing a traditional insurance product. Alternative risk dynamics have come a long way in the last several years offering rapid growth companies opportunities that previously were only available to large established industry leaders.
- Customize coverage specific to your business
- Improve risk management
- Avoid the volatility of the cyclical insurance market
- A stronger business model
- Provide claims tranparency
- Fill gaps in current insurance arrangements
- Access reinsurance solutions to customize loss limits
Outstanding financial benefits
- Optimize cash flow
- Capture underwriting profit
- Potential to reduce premium spend
- Greater control
- Generate investment returns
Call on the captive insurance niche experts. We understand how to structure and execute a customized approach through a smooth three-stop process, perfected through decades of experience. Learn about captive formation.
Always Exceptional, Turn-Key Service
Exceptional service is paramount to our mission of assisting you with careful management of your business risks through a captive insurance company. Every client receives individualized attention and can expect unparalleled availability from our firm’s principles to ensure that their captive is exceptionally managed. Our team includes a network of professionals who are distinguished in their field of service, providing you with a solid understanding of alternative risk transfer in order to create the best solution for your unique business needs.
Synergistic, Coordinated, and Comprehensive Captive Insurance Formation and Management
From the initial point of contact, Broad Reach provides our clients with a uniquely synergistic process that employs the knowledge of their current professional advisors with our select partners that are top in their field, to guarantee coordination with both corporate and personal goals. Each captive client works directly with our principals on every key facet of captive creation and operation. Because Broad Reach values independence and transparency, we choose to work with highly credentialed independent third-party actuaries and attorneys as we design, establish, and manage a captive insurance company.
Captive Management Services
- Create annual budget, projected expense reserves, projected cash flow statements, and investment recommendations.
- Assist actuarial firm with data necessary for premium pricing and loss reserve statement
- Provide your captive’s CPA with un-audited financials for preparation of tax returns and audited financials
- Annual Report preparation and submission
- Monitor expenses and investments and report these results semi-annually.
- Claims review and processing
- Bill and collect clients of your captive for premiums.
- Pay expenses according to annual budget within guidelines.
- Responding to regulatory inquires
- Conduct meetings required by various statutes to form and manage your captive.
- Conduct ongoing required management meetings to include executives from your captive and respective lawyers and accountants.
- Agenda management, including soliciting agenda items from lawyers and accountants and preparing agendas for running and documenting meetings
- Facilitate your sign-off of the annual budget, expense reserves, investments, etc.
- Creation of meeting minutes for circulation at key meetings and for filing with regulating authorities
Regulatory Compliance Services
- Ensuring regulatory compliance in the local domicile.
- Preparation and filing of regulatory reports.
- Maintenance of records in accordance with regulatory requirements.
- Responding to regulatory examinations and inquiries.