A captive insurance program may be appropriate if your organization:
- Is prepared to make the financial commitment necessary to create or join a captive program; (Rent-a-captive programs may provide a more cost-efficient alternative for smaller entities.)
- Seeks control over its risk management program;
- Has a favorable track record in controlling losses;
- Is committed from top management on down to maintaining an ongoing, long-term risk control program;
- Cannot find competitively priced or available insurance coverage in the conventional insurance marketplace;
- Is comfortable sharing risk with other companies, as may occur in an association or group captive.