“A wide range of business owners have discovered the benefits of owning a captive insurance company, and we are honored that premiums under management jumped significantly during the fourth quarter,” said Mark Jacobs, CEO of Captive Alternatives.
(PRWEB) January 25, 2017
Captive Alternatives (CapAlt), the insurance consultancy that pioneered the Protective Captive™ business model, announced today that renewal premiums paid by its captives under management were up 40% in the fourth quarter of 2016.
“In 2016, a wide range of business owners discovered the benefits of owning a captive insurance company, and we are honored to report that premiums under management jumped significantly during the fourth quarter,” said Mark Jacobs, CEO of Captive Alternatives.
“We believe that centralizing our captive operation in Puerto Rico was one of the driving factors of our success in 2016. Puerto Rico’s efficient, business-friendly environment makes it an ideal domicile for U.S.-based captives,” he said.
A captive is a self-funded insurance company created by a business owner, physician, banker or athlete that rewards effective risk management while cost-effectively obtaining adequate insurance coverage for ‘hidden’ business risks. Captives provide insurance coverage exclusively to its owners. When individuals need specialty coverage that is not available from traditional commercial insurers, they often turn to captive ownership. After claims are paid, the captive’s remaining reserves can be used for business-related expenses such as expansion.
Captive management firms, such as Captive Alternatives, set up and manage the day-to-day operations of their clients’ captives. As a result, captive owners gain all the benefits of owning a privately-held insurance company without having to become an insurance or risk expert.
About Captive Alternatives
Captive Alternatives is a leading consultant helping business owners control their cost of risk through the use of captive insurance companies. CapAlts’ innovative business model, the Protected Captive™, helps owners manage hidden risks, transfer high exposure to third parties, and financially reward themselves for effective risk management. As a result of owning their Protected Captive™, our clients cover a wide variety of hidden exposures, and achieve all their strategic objectives – both corporate and personal. CapAlt delivers custom risk management solutions through an industry-first Puerto Rico International Insurer, and manages operations from their offices in Atlanta and Puerto Rico. For more information, visit http://www.captivealternatives.com.