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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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Instructor
Todd is President and CEO of Fortress Risk Management. As an attorney who also holds a masters degree in accounting, Todd is one of the most sought-after estate planners for high net worth individuals and business owners in the country. He has a unique specialty in risk management and is one of the nation’s top experts in Captive Insurance and Captive Reinsurance. His expertise in captive insurance and captive reinsurance company formation, along with his comprehensive knowledge of estate planning and tax, have resulted in the formation, management, and operation of hundreds of successful captive insurance companies. As a leading expert on Captive Insurance, you will learn some of his unique strategies so you can go after the niche market of Captive Insurance and help your clients control risks, manage costs, and improve cash flow.