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Fundamentals of Captive Insurance:
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Purpose of Captive Insurance
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Captives vs. Traditional Insurance
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Assessing Risk–The Actuarial Study
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Why Risk Pooling and Risk Distribution?
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Paying Claims
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Selecting a Domicile
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Annual Administration
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Good Industries for Captive Insurance
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Feasibility:
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Initial Consultation: Fortress Risk and Adviser
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Business Intake Form
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Engagement: Letter of Engagement Between Client and Fortress Risk: Scope of Services; Confidentiality of Client Information; One-time Consulting Fee
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Evaluate Risks
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Actuarial Study
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Formation:
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Formation of Reinsurance Company
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Ownership of Captive
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Insurance Manager Prepares Ancillary Agreements
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Paying Premiums
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Open Accounts
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Investing Insurance Premiums and Reserves
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Quarterly
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Function:
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Issue Policy
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Paying Claims
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Annual Upkeep
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Premium expense (%) applies to each premium payment:
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Affiliating With Fortress:
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Respecting Advisor’s client relationship
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Noncircumvent/Nondisclosure Agreement
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Investment Accounts and Bank Accounts
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Role of the Insurance Manager
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Working with Accounting Professionals
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Certified Captive Consultant™Todd Bailey2018-07-15T19:28:03+00:00