Independent Captive Consulting
OUR PROCESS
Education. Viability. Feasibility. Implementation. Continuation.
EDUCATION
Navigating the captive world is often complex and confusing. Paladin believes that simplicity is the ultimate sophistication. For this reason, we engage with clients from the Fortune 10, down to regional firms that are looking for an independent eye in the captive world. Too often we see organizations making complex decisions without understanding the gravity of those decisions. We will work with you for as long as it takes for you to get comfortable with the captive concepts.
VIABILITY
Once you feel comfortable with the concepts, it is time to apply your loss history to understand if a captive makes sense for you. Be it a stand alone or group captive, we help to prepare you for an independent actuarial analysis, as well as our internal analysis to bring to you a projection of ALL costs associated with creating/joining a captive. Paladin commits to you that by the end of this phase, you will know if a captive is right for you.
It is important to note that Paladin is completely independent to this decision and we are not, nor do we work for, a captive manager. We work with you and your team to make the right decision, even if it is not to go the captive route.
FEASIBILITY
After establishing that a captive option is viable for you, the feasibility phase can begin. In this phase, we will aid in the following areas:
Whiteboard session discussing captive design (retentions, coverages, forms, etc).
Meeting with key advisors to educate (CPA, Attorneys, etc.).
Domicile analysis.
Business plan creation.
Fronting carrier negotiations.
Reinsurance negotiations for final terms.
Determine vendor options available for work with carrier partners.
Creation of a financial pro-forma.
Legal review of structure for risk shifting and risk distribution.
IMPLEMENTATION
With negotiations settled and a clear outlook established, it is time to implement your captive structure and create your insurance company. All filings are completed with the state or jurisdiction, policies are issued, premiums are collected and all parties are aligned for launch.
ANNUAL CONTINUATION
Many of our clients choose to have us analyze the new and expiring data for the upcoming year to identify any changes that need to be made to the program, as well as complete a yearly risk assessment. It is often during this assessment that we discuss other ways by which a captive structure could be leveraged to help further your strategic vision.
QUESTIONS?
Have questions about our process? How do you know if this is right for you? Contact us today!