Captives provide a more comprehensive solution for the shareholders or participants in a captive against the guaranteed cost market. The services a captive provides, especially in risk control and claim management, are far more tailored and specialized, based on personal experience instead of market experience.
Contractors who choose captives are a selective, like-minded group of leaders who join forces to innovate together. Joining a captive is like finding the very best equipment for a job, or selecting the subcontractor who fits best with your company’s goals and culture. A captive is an extension of your company’s vision, operations, and brand.
GREATER CONTROL
OVER CLAIMS
Members participate in claims reviews and claims strategies to drive closure and keep costs down.
A DEDICATED RISK-CONTROL PROGRAM AND IN-PERSON AND VIRTUAL TRAINING
Because risk control is central to the success of our captives, Cardinal provides extensive support to captive members to build a culture of safety at every level of member organizations.
PREMIUMS THAT ARE INSULATED FROM THE FLUCTUATIONS IN THE STANDARD MARKETPLACE {HO2]
Instead of being subject to a hardening market, captive members have greater control over premiums and are less exposed to cycles of unpredictability in the standard market.
COST EFFICIENCY
The captive retains many of the fees it would pay a traditional insurer, so the overhead costs are lower.
POTENTIAL FOR FINANCIAL GAIN
Unused loss funds and interest on those funds are returned to insureds in the form of dividends. Through active management of loss, participants in a captive have the opportunity to recoup loss funds. Additionally, participants can earn investment income on contributed funds.
SHARED BEST PRACTICES WITH OTHER LIKE-MINDED BUSINESS LEADERS IN ADJACENT INDUSTRIES
Cardinal offers in-person and virtual meetings to promote camaraderie, brainstorming, and networking among business owners, risk-control teams, and other key players.
