In a recent article published by Captive International, Michelle Bradley and Enoch Starnes discuss, “Adapting Your Captive for a Shifting Risk Landscape". In it, they examine how a company’s risk profile can shift dramatically and without any warning. The impact of a global pandemic, a rising tide of shock verdicts, and an increasingly complex cyber landscape have changed insurance needs to a point which few could have predicted. What might have been easier to predict, however, was the resulting influx of companies in need of alternative risk financing solutions, such as captive insurance.
It’s impossible to perceive or predict all of the factors impacting a captive’s insured risks, but it might be surprising how effective even a minimally proactive approach to risk-based analytics can be for a captive’s success. Fostering an environment where these changes are monitored, analyzed, and communicated provides a strong foundation from which a captive’s capacity as a risk financing solution can be built.
As a reminder, SIGMA's Captive Overview brochure presents a high-level captive overview, and addresses fundamental questions, such as “What is a captive insurance company?”, “Why would I use a captive over traditional insurance?”, and “How do I form a captive?”. Get your copy today by clicking the link below.
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