Magazine article Risk Management

Captive Reading

Magazine article Risk Management

Captive Reading

Article excerpt

Increasingly, many risk and insurance professionals are continuing to turn to the alternative risk transfer markets when policy negotiation or renewal season takes a turn for the worse. The captive markets in Bermuda, certain U.S. states and Europe have become one of the more popular alternative routes that many organizations have taken in recent years, and in many cases, setting up a captive is a great Success.

But simply setting up a captive alone will not ensure this success. If an organization truly wants its captive to provide a proper risk solution, it is important to understand the accepted practices and procedures that support a captive's ability to achieve its mission and purpose. To help further this idea, the Dallas-based International Risk Management Institute, Inc. (IRMI) recently released Captive Practices and Procedures, a new book that provides insight into captive insurance implementation and management best practices.

A knowledgable, 204-page reference tool for all risk professionals, Captive Practices and Procedures educates the reader on how to establish a captive that sets the standard and withstands the test of time; identifies performance analyses that can reinforce stakeholder satisfaction; explains how to use the components of a feasibility study to develop a strategic business plan; and discusses how to turn regulatory compliance from a negative into something positive. …

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