You certainly didn't start the business you are in to become an insurance executive. 

 

Yet, you have likely learned that as your business has grown, you have had to learn and grow in areas that were at one point unfamiliar. The truth is that captive insurance is not right for everyone. Here are some questions you should ask yourself as you consider a captive as an alternative to your current risk management model. 

 

 

• Do your current policies cover all your risks adequately?

• Does your current insurance carrier allow you to negotiate the coverage and premiums terms?

• Have you had problems with one or more of your insurance carriers or the plans offered?

• Have your insurance premiums continued to rise?

• Are you willing or able to add additional corporate responsibilities to your schedule?

• Are you comfortable placing money into a business entity for an extended period of time?

• Are you committed to your long term business plan?

• Are you committed to lowering the cost of managing your risk?

• Do you need tax deferral and conversion strategies?

• Do you have an asset protection or estate plan in place?