captive insurance: mitigate risk more efficiently

For many mid-sized companies, commercial insurance can be a challenging and complex topic to tackle. Traditional insurance brings a lack of control and transparency with premiums, costs, and claims. At iCOR, we understand the impact that this lack of control can have on an organization's bottom line and people.

Traditional insurers cover a large portion of the risks business owners face, however, their policies are often limited or have excluded coverage. Implementing a Captive Insurance Plan mitigates the risks business owners take each day.

advantages of an 831(b) captive solution

Designed to Compliment Your Business

831(b) Plans are meant to bring efficiencies and limit disruptions. iCOR works with the plan administrator to ensure the plan is achieving the risk mitigation goals of the business owner. At iCOR, we have a defined process to assist our clients through implementation and ongoing plan monitoring.

You're In Control

An 831(b) Plan can be tailored to meet a company’s specific risk management and financial needs. The captives have lower operating costs than traditional insurers, thanks to efficiencies gained through the unbundling of services and group purchasing power.

Increased Profit Potential

Members’ unused loss funds (underwriting profit) and accrued investment income is returned in the form of dividends, further reducing overall costs. And, since controlling risk contributes directly to a company’s bottom line, group captive members have an inherent incentive to make their workplaces safer.

Tax-Deferred
Plan Contributions

An 831(b) Plan allows a business owner to defer income to address tomorrow’s potential risks. Without an 831(b) Plan, owners are self-insuring risks with after-tax money from cash flow. With an 831(b) Plan, business owners can utilize these tax deferred reserves to navigate through the storm.

Typical Captive
Member profile

The Captive Insurance Solution works for a variety of companies. We've found the most successful captive members possess qualities such as:

Long-term financial strength and stability as an organization
Leadership teams committed to safety, with structured programs in place.
Loss histories that are better than average for their respective industries
Entrepreneurial spirit with the drive to take more control over insurance programs
Annual casualty premiums of at least $250,000 (minimum $100,000).

captive industries

Manufacturing
Distribution
Construction
Trucking
Transportation
Retail
Food & Beverage Production
Hospitality
Healthcare Services
And More