Healthcare
Healthcare
What is Captive Insurance?
Captive insurance is a form of insurance whereby a company owns its own insurance company and pools the insurance risk with other businesses. Critically, the majority of the risk is spread across companies in industries outside of healthcare.
A captive insurance company provides several advantages and addresses several pain points for you and your business.
INSURANCE BENEFITS
- Tailored Coverages
Captive insurance allows businesses to tailor their coverages to meet their unique
needs. You can choose the type and level of coverage that best suits your business, rather than being limited to the options
provided by traditional insurance
providers.
- New Coverages
3F can work with you to create new coverages, for example, additional crop insurance above the government subsidized amounts in a cost effective manner.
- Risk Management
By establishing your own insurance company, businesses have a greater incentive to identify and mitigate risks
proactively. By being a responsible operator, you benefit even more because you retain your premiums net of losses (captive and pool).
ECONOMIC BENEFITS
1. Premium Retention: You keep the premiums you pay into the captive net of claims and losses (captive and reinsurance pool). You also retain the underwriting gains on the premiums paid into your captive.
2. Favorable Tax Treatment: Captives have favorable tax characteristics, especially when operating in
states with high tax rates:
Implementation and Management
Setting up a captive insurance company can seem daunting, but with 3F Captive
Services, it’s a smooth and guided process. We handle and arrange for setup,
management, and compliance complexities, allowing you, the business owner, to
focus on what you do best — running your business.
Ready to Take Control of Your Business Insurance?
Choosing Captive insurance is a strategic decision that can enhance the success
and stability of your business. With 3F Captive Services, you’re choosing a partner
who understands the needs of small to medium-sized businesses and is committed
to providing solutions that fit you.
Contact Us Today
Ready to explore how Captive insurance can benefit your small business? Contact
us for a consultation, and let’s start the journey towards more intelligent, efficient
insurance management.
