Skip to Main Content Back to Top Let's Talk

Captive Insurance Solutions

Leverage your safety programs and loss ratio to take control of your premium costs.

Business Partners In Discussion
Higginbotham H ogo

Spotlight on: Captive Insurance

Your great loss ratio could help lower your insurance costs.

Whether you operate a business in a market with limited insurance carrier options or just want to explore alternative options to your guaranteed cost insurance, captive insurance may be an option you want to consider.

Captive insurance is an alternative risk financing technique that rewards mid- to large-sized companies with competitive loss ratios.

If your organization has a great safety record, stellar loss control measures and solid financials, you could be a good fit for a captive program.

viewing-document-of-retirement-plan

How does captive insurance work?

Captive insurance is an alternative insurance model where a company creates or joins an insurance entity to cover its risks.

This model provides direct access to insurance markets, enhanced control over insurance costs and a personalized risk management framework. It’s a proactive approach of managing your insurance program, allowing for a greater alignment with your business objectives.

A captive insurance program could include coverages ranging from property insurance to professional liability​ to commercial auto insurance. But, every captive is different, and not all coverages will work with all captive programs. With this in mind, we recommend discussing your needs with a seasoned captive insurance specialist.

Ready to put your safety and loss records to work for you?

Leverage your safety and loss performance to reduce premium costs, better manage your risk and take control of your insurance experience. Talk to our captive team to find out if a captive is the right fit for your business.

Let’s Talk Request a Quote

Factory worker working in the risk toxic waste

Single Parent Captives vs. Group Captives

There are various forms of captive insurance, each designed to meet distinct needs, industries and operational structures. The most common types are single parent captives and group captives.

real-estate-agent-explaining-to-client-broker-risk-management

Single Parent Captives

A single parent captive, often referred to as a pure captive, is an insurance entity that’s owned exclusively by a single parent company. Its primary function is to insure the risks of its parent organization and its subsidiaries; for this reason, it’s generally used as an alternative risk financing strategy for mid-size or larger companies.

Business Colleagues Discussing Project In Office

Group Captives

Group captives are owned by multiple companies that come together to share their risks. This collaborative model allows the members to share risks and costs, potentially allowing for access to benefits that might be unattainable individually, such as increased control over the underwriting process, loss control and risk management.

Business People Meeting In Company Storehouse

Captives for Manufacturing

Businesses in the manufacturing industry face unique liabilities and coverage requirements, and that’s why Higginbotham offers captive insurance solutions for the production sector. For manufacturing companies, captive insurance may help control costs and manage exposures, even in this risky industry.

The Higginbotham Difference: Custom Solutions Built Around Your Needs

At Higginbotham, we start with listening and end with custom insurance and risk management strategies tailored to your needs.

Employee owned and customer inspired, we put you at the center of everything we do. That’s why our approach to finding solutions comes with humanity—and without compromise.

By using our independence to commit to transparency and demonstrate authenticity, we’re a company that leads with values so value leads.

To learn more about how our values-based approach creates value for you and your business, click here.

Year-Round Support for Your Captive Program

At Higginbotham, we believe ongoing support is key to making your captive insurance program a success. That’s why our dedicated team offers year-round assistance in financial management, claims advocacy and loss control.

We assist in monitoring the details of your captive program, fine-tuning it to meet your business goals and comply with regulations. Here’s a closer look at some of the support services we offer:

Captive Financial Support

  • Study/analysis of member financial summary
  • Study/review of member assessments for accuracy
  • Education on captive equity and investment income
  • Additional support to captive management-related subjects
  • Collateral setup assistance with banking
  • Review of actuarial loss pick for member year-over-year
  • Underwriting and renewal support with captive manager/captive carrier

Captive Claims Advocacy

  • Front-end support for setup, education and understanding of claims in the captive model
  • Review of TPA claims and client advocacy on claims resolution
  • Analysis of TPA Lag Time
  • Additional quarterly reviews (outside of TPA standard reviews)
  • Hot claim/quick strike setup and support
  • Dedicated claims unit
  • Litigation management

Captive Loss Control Support

  • Help in loss control education
  • Assistance with captive loss control portal management
  • Accompany members to risk control workshops
  • Coordination of specialized training
  • Loss control allocation monitoring
  • DOT/OSHA assistance
  • On-site reviews and safety meetings
She Has Great Ideas
Higginbotham H logo

Work with a captive insurance professional who specializes in creative solutions.

A great plan starts with a conversation. Let’s talk about what you need.

Talk to a Captive Insurance Specialist

Request a Quote