Captive Insurance Completes Risk Plans for Construction Companies
Construction Industries Face Unique Risks
There is plenty of risk in the construction industry when managing construction industry risk.
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Employee risk operating machinery
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Use of heavy tools and materials
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Variety of suppliers and subcontractors on a project
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Project delays and problems
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Environmental concerns
Costly Premiums are Often Determined on Industry as a Whole
Costly Premiums are Often Determined on Industry as a Whole -
Commercial insurers set premiums and design policies based on industry standards as a whole.
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Starting a captive allows your company to set premiums based on your individual performance and needs.
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Some risks are often not covered at all as they may be considered outside of industry norm.
Rewarding Risk Controls
There are multiple advantages of using a captive insurance plan in complement with your general commercial insurance. By taking a proactive approach of managing your own risk program and coverage, you have more control in reducing your insurance costs and benefitting from underwriting profits. In other words, when there are underwriting profits, you keep them rather than a commercial insurer benefitting from your construction company utilizing best risk policies and programs.
Significant Tax Savings for Construction Companies
The premiums paid to your captive insurance company you’ve created are tax deductible. Premiums received by the captive insurance company are tax exempt up to $2.3MM per year. Read more about Captive Tax Benefits
Many risks insured in captives for construction industry companies include
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Workers’ compensation
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Construction defect and rework
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Product warranty
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General liability
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Cybersecurity
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Terrorism
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Property
Construction Industry Segments
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General Contractors
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Subcontractors
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Plumbing
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Electricians
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Engineering
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Architecture
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HVAC
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Home Builders
- & More
- Aerospace and defense
- Automotive
- Banking and financial services
- Construction
- Healthcare and physicians
- Hospitality and leisure
- Manufacturing
- Oil and gas
- Real Estate
- Retail and wholesale
- Technology and cybersecurity
- Transportation and logistics
- Aerospace and defense
- Automotive
- Banking and financial services
- Construction
- Healthcare and physicians
- Hospitality and leisure
- Manufacturing
- Oil and gas
- Real Estate
- Retail and wholesale
- Technology and cybersecurity
- Transportation and logistics
Captive Nation provides turn-key captive management services. Our team of experts take care of the day-to-day
operations of your captive so you can focus on your core business success.
FEASIBILITY
Our feasibility study determines if a captive is right for your company.
– Cost-Benefit Analysis
– Tax Analysis
– Policy Analysis
– Purpose Documentation
– Domicile Selection
– Captive Structure Selection
UNDERWRITING
We handle all underwriting processes and utilize independent actuarial firms.
– Identify under-insured risks
– Determine unidentified risks
– Determine lines of coverage
– Determines premiums
– Complete a policy analysis
FORMATION
We handle the entire formation to ensure your Captive is compliant with regulatory, corporate, and tax requirements.
– Formation Applications
– Incorporation Articles
– Bylaws
– Tax ID Numbers
– Other Reporting Documents
MANAGEMENT
We handle every aspect of operating a captive.
– Regulatory Compliance
– Accounting & Banking
– Annual Financials
– Captive Reserve Investments
– Policy and Premium Review
– Claims Management
– Annual Audits
– Tax Compliance
