By Christopher Newell
Companies of all shapes and sizes have one thing in common when it comes to purchasing property and casualty (P&C) insurance — it's a daunting task at all levels. Ultimately, making the business decision about which insurance solution best suits the needs of a company has a direct impact on its business going forward.
As your company grows in size, the options for different types of insurance solutions grow as well. Early on, the company might have been a size where you could only look for insurance that's full-risk transfer, which is first-dollar coverage or guaranteed cost in nature. As your company grows, it opens up the opportunity for more risk-taking options.
Wherever your company stands with its desire and ability to take risk will have a direct effect on which of these solution choices makes the most sense. Similarly, the conditions of the insurance marketplace in regards to rates and ability to obtain coverage will also impact which solution will provide the best overall solution.
This whitpaper explores the pros and cons of five different types of P&C insurance solutions that are available to midsize and large companies, including guaranteed cost, rent-a-captive, group captive, single-parent captive and large deductible programs.
For each of these solutions, we will delve into the benefits, the insurance market cycle and the risk-taking positions that fit them best.
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