Owning control of your insurance
As your construction business grows, your insurance program needs to grow with it. If your loss history is good and your safety culture is strong, you may be ready for an alternative to traditional insurance. Welcome to the world of Captive Insurance.
What is Captive Insurance?
Captive Insurance is an alternative risk strategy where you own the insurance company and participate in the underwriting profits. There are many different types of captives, from single cell to group captives. MRG can explain the alternatives and provide a detailed analysis to see if this is a viable option for your organization now.
MRG: Your Captives Expert
MRG partners with the top captive organizations in the world. We have a dedicated department for captives and we support clients with everything from insurance policy design to claims adjudication and more.
Captive Insurance vs. Traditional Insurance
Captive insurance eliminates the limitations of traditional insurance,
- Unavailability of coverage
- Coverage that is too expensive
- Coverage that cannot be tailored appropriately for an organization’s needs
- Premium rates that do not meet an organization’s loss profile
- Inflexible policies
- Inflexible terms
- Inability to estimate loss frequency or loss severity
- Lack of a tax benefit for retaining risk