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By placing a captive at the core of your organization’s risk management program, you can achieve a reduced total cost of risk, stabilize risk capacity, and gain access to reinsurance.
Other potential benefits unique to captives include:
- Better approach to funding for future catastrophic losses such as cyber, terrorism, and product liability.
- Coverage for unique risks that may be unavailable in a traditional insurance arrangement.
- Potential to build capital and surplus, and the ability to fund insurance claims, by paying and setting aside premium payments and underwriting investments to cover losses.
- Ability to capture underwriting and performance management data to build a statistical base, improving the ability to secure coverage with insurers at acceptable terms and pricing.
A captive insurance program can help your organization reduce traditional and emerging risk management pain points. And, by achieving a greater control of risk and reduced costs, your business can enhance your overall economic security and profitability.