There are several strategies how a business can manage risk and control insurance costs.
This video will discuss one of them and is an interesting and in some cases can be powerful solution for business owners to:
The strategy you will learn is called Captive Insurance.
What is it? -A closely held business set up for the sole purpose to insure the risks of the Parent Company
This video will walk you through and provide a conceptual understanding on how Captives work along with some exercises to identify and strengthen risks management:
There are certain Obstacles to be aware of before getting involved, below are a few we discuss:
A Captive is not right for every business BUT you must explore your numbers to determine if it is a good fit.
Check out the video to watch what happens.
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