Did not find what you’re looking for? Contact us and we’d be eager to help.
Prime Captive Services
Prime Captive Services provides a broad range of specialty and professional services to the captive industry. Our in-depth knowledge of underwriting, risk management, and claims reinforces our ability to create and complement solutions for complex risks. Our Quota Share partnership and model are mutually beneficial to all.
Prime Captive Services Provides:
- Virtual Captives
- Underwriting
- Adjusting & Claims Management
- Captive Business Consulting
- Reinsurance Services
- Risk Management Consulting
We have a proven track record of providing services in a cost-effective, focused manner, which leads to extraordinary results. In addition, our clients have found us to be a versatile resource for Captive Managers, investment management, reinsurance services, program design, tax filings, loss analysis, risk retention analysis, and regulatory and compliance expertise.
Traditional Captive Services vs. Virtual Captive Services
Captive services refer to when an insured individual or enterprise sets up an insurance company to manage their risk and insurance finances. A virtual captive is a type of captive service that is managed on a non-commercial basis. The primary difference between traditional captive services and virtual captive services is that the latter operates remotely. With virtual captive services, the parent company sets up a legally separate subsidiary that is treated as a stand-alone entity. Virtual captive services offer many benefits such as cost savings, wider market access, and broader coverage areas. The parent company approaches an insurer or reinsurer to back its virtual captive as it would do for a traditional captive arrangement.
Prime’s Virtual Captive Services program allows insured individuals or entities to establish a virtual in-house insurance company, giving them more control over their risks and potential cost savings. Trucking companies and property owners, in particular, benefit from these services as they can customize their coverage to suit their specific needs and gain access to in-house underwriting, policy services, and claims management expertise. By exploring Prime’s comprehensive Captive Services, insured individuals can make informed decisions to protect their unique risks effectively.
Key Benefits of a Prime Virtual Captive:
- Reduce costs and complexities
- Reduce regulatory issues
- No expenses for actuarial or management services
- “A-” (Excellent) rated insurer handles the costs and governance of operating the entity
- Best-in-class claims handling and risk management services
Prime Captive Services is a dba of Prime Holdings Insurance Services, Inc.
To learn more about Prime Captive Services, contact us at 800-257-5590 or [email protected].