Captive insurance management, whereby a business establishes its own insurance company to self-insure against business risks, can allow organizations to avoid the often volatile pricing that can come when purchasing and relying on traditional solutions available through commercial insurance companies.
Many types of businesses across industries can benefit from captive insurance programs, including non-profit organizations like schools, colleges and other educational institutions, non-profit healthcare facilities, and municipalities.
Why Non-Profits Should Consider Captive Insurance Programs
Non-profit organizations, as established businesses, face the same risks that for-profit companies face. Any time there is a potential risk of catastrophic loss that could impact the organization’s ability to continue operations, insurance can provide a safety net. By creating a captive insurance management program, non-profits are able to self-insure part of the risk, reinsure another part, and continue earning investment income on premiums until they’re due.
Non-profit companies’ revenues may be more volatile and unpredictable than their for-profit counterparts. When a non-profit organization uses captive insurance management instead of purchasing commercially-available coverage, costs related to insurance become more stable, and are therefore more predictable. In addition, the cost-savings realized through the captive insurance arrangement can help further the non-profit organization’s mission.
Venture Captive Management Brings Experience and Value to Non-Profits
Choosing captive insurance management for your non-profit organization can give you ownership and control over premiums, loss reserves and claims processing, helping you manage costs and creating return on invested capital.
When your non-profit organization works with Venture Captive Management, we will help you establish your insurance company so it is in compliance with regulatory requirements. Common coverage options for non-profits include general liability, medical malpractice liability, professional liability, environmental liability, workers’ compensation, employee benefits, and property coverages including auto liability. Captive insurance programs through Venture Captive Management can help you self-insure risks that are difficult to insure or are simply unaffordable in traditional commercial insurance markets.
We are committed to helping our clients create captive insurance management programs designed to truly meet the organization’s needs. Rather than proposing a cookie-cutter solution, we get to know our clients’ long-term objectives, liquidity needs, financial stability and appetite for risk. When we understand your non-profit organization’s unique risks and needs, we can help give you the control over protecting them in a cost-effective manner.
Contact Venture Captive Management Today to Learn More
When you choose Venture Captive Management, we will help you choose the type of captive insurance program, and will work with you to help you identify individual coverage options that can best protect your risks. We have been helping meet the need for alternative funding structures for for-profit and non-profit organizations since 2002. Our team of professionals understand underwriting, claims, accounting and more, and are dedicated to helping non-profit companies insure risks in a more cost-effective manner.
To learn more about turn-key captive insurance solutions that allow non-profits to take advantage of alternative risk funding structures, contact Venture Captive Management today online, or by calling 770.246.8535.