Captive Insurance Solutions
Leverage your safety programs and loss ratio to take control of your premium costs.
Leverage your safety programs and loss ratio to take control of your premium costs.
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 to managing your insurance program, allowing for a better 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.
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.
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.
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.
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.
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.
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.
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:
A great plan starts with a conversation. Let’s talk about what you need.