Property & Casualty

Group Captive Programs

Scott has industry-leading knowledge and experience with group captive insurance programs.

We created a leading position in captive insurance in 2001, when we started a client-owned captive. Since then, it has returned more than $22.3 million to its members.

For companies that share our passion in seizing risk for reward, captives are an exciting opportunity. As a group captive owner, you essentially create your own insurance company. By joining a group of like-minded businesses, you gain ownership and control of all aspects and costs of your insurance programs.

Our captive solutions range from single parent to heterogeneous and homogeneous group captives to 831(b) captives. We have partnership affiliations with captives in Bermuda, Grand Cayman and Vermont.

The captive idea was exactly what we were looking for since we value control and personal responsibility in everything we do. Being an owner of our own insurance company allows us to share our ideas and experiences while learning from the other companies we have partnered with. We’ve emerged as a better company and enjoy the financial benefits of this one-of-a-kind approach to risk management.—in the words of a large North Carolina hospitality corporation captive owner

How Do Group Captives Work?

Scott Insurance specializes in group captives, which are formed by multiple businesses joining together to form their own insurance company. These types of captive programs are highly collaborative, where business owners are able to learn from each other’s mistakes and can share best practices among the group. Members of the group captive contribute their own capital and investments are shared with its members.

Since members can own part of the insurance company and can gain back unused loss funds plus income from investments, members are highly incentivized to improve risk management and reduce costs. With this high level of accountability, companies that engage in group captives see risk and employee benefits as just as important as any other key element of their businesses.

Group captives can be “homogenous” or “heterogeneous.” Members of a homogenous group captive must be from the same industry group. This type of group captive presents many benefits in exchange of knowledge, buying power, and efficiencies realized from similarities in operations. In a heterogeneous group captive, members are from entirely different industries but are insured under the same program. This presents a different set of benefits resulting from risk pooling since it doesn’t rely on the performance of one industry group alone.

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