Creating a Captive Insurance Company

This is the tenth article in a series of Target Marketing ideas that I hope will help you to think differently and set yourself apart from your competition.   In this article I will deal with the creation of a captive insurance company.

Part of becoming a target marketer is being on the lookout for all types of opportunities including the creation of a captive insurance company for a specific client or for an association.  When creating a captive there are several items that you must consider.

1. The best time to create a captive is when the market is getting hard.  This gives you and the client the opportunity to have a program that is not available to others during a difficult insurance market.

2. Whenever you speak with your client or association you must be certain that their attorney is present.  Since there is a financial risk involved in a captive they must be represented by counsel in order for you to avoid an E & O claim in the future.  Any representations you make must be confirmed and agreed to by their attorney.

3. Everything you say or propose must be in writing including all possible risk of loss.

4. Find an expert in captive creation.  I have such a person that I will be happy to recommend to you.  This individual assisted my agency in creating two association captives; and did an outstanding job.

Creation of a captive insurance company is part of my Target Marketing Seminar.  If you are interested in this seminar please give me a call at 714 813-3221.  Four hours could change your entire career.  (4 CE credits available in California)