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THE CHANGING INSURANCE MARKETPLACE

ALTERNATIVE RISK TRANSFER

(ART)

 

The Alternative Risk Transfer Industry (ART); Captives, Self Insurance, RRGís, State Pools, and other non-Commercial Insurance Company risk assuming procedures, is creating changes in the Insurance Industry.

 

The Insurance Industry will realize the most change in the Group Captive and Risk Retention Act area.Several state insurance departments have committed specific resources to attract Group Captives and Risk Retention Act Insurerís, principally; Hawaii, Washington DC, South Carolina, Arizona, Nevada, Montana and UTAH.

 

Businesses considering structuring their Insurance and Reinsurance protection thru Risk Transfer Alternatives (ARTís) (non-commercial insurance companyís) must first understand the technical support required to provide:

 

††††††††††† ††††††††† Claims Management and Administration Services;

 

Experts agree that the No#1 advantage, when taking charge of your own insurance program, should be the ability to immediately respond, evaluate, and settle claims, and defend non-negligent claims, in lieu of making an economic settlement of every claim submitted as just a means of closing claims.

 

††††††††††† ††††††††† Insurance Program Underwriting and Policy Services; (MGA, MGU)

††††††††††† ††††††††† Program Actuarial Services;

††††††††††† ††††††††† Risk Management Services;

††††††††††† ††††††††† Agent, Broker, Producer field representation services;

††††††††††† ††††††††† Reinsurance Brokerage Services;

††††††††††† ††††††††† Premium Finance Services, if applicable.

 

Note:††† This does not include the basic Captiveís or Risk Retention Groupís Company organization and††† operations management group.

 

††††††††††† ††††††††† CAPTIVE MANAGER (required)

††††††††††† ††††††††† ACTUARIAL (required)

††††††††††† ††††††††† CORPORATE LEGAL (required)

††††††††††† ††††††††† Banking and Investment (required)

††††††††††† ††††††††† ACCOUNTING CPA (required)

 

 

 

 

 

 

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