CNC Insurance Delaware Business Insurance Update - What is a "Captive" ?

What is a "captive"? A "captive" is a "in-house" insurance company. That's right, businesses now can write their own coverage. What companies are finding is that by creating a "captive", it allows for quicker claims response, less red tape, and in many cases, increased profits when claims are low. Of course there's more than just waving a magic wand to create a "captive". As is in most things, there is some cash needed up front. Well to be honest, a lot of cash . Therefore making it unobtainable for some smaller business. However, given the opportunity and financial means, companies can have much more freedom when it comes to financing their risk. Well, one thing is for certain, we'll be hearing much more about "captives"in the very near future. We will surely keep you posted. Until next time, be careful out there and know your risks.

G. Kevin Nemith
President, CNC Insurance

Proudly serving Delaware, Maryland, Virginia, Pennsylvania, and New Jersey

www.cncinsurance.com
www.bizinsurancetv.com

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