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Captive coverages should begin with an evaluation of your existing commercial insurance program.

A RISK ANALYSIS would help you determine:
-What kind of risks would work well with a captive IE General Liability, Professional Liability, Auto, Property, Cyber Risk, Pollution, Key relationships, Income loss, Warranty/Good Will, Employment Practices and others?
-Are there GAPS in your coverage? 
-Would your operations benefit from more comprehensive coverage that wrapped around existing coverage? 
-Are there lower frequency but potentially high severity exposures that you should be protected from? 
-Maybe even coverages that are not available in the commercial insurance market.
-What level of insurance would provide the protection you need?

UNDERWRITING SUPPORT
-What would the coverage form contain?
-How do you coordinate the coverage you already have with the “new insurance”?

ACTUARIAL STUDY
-Determine if a captive is feasible for your operations.
-Now you need an actuary to take the exposure data and research appropriate insurance rates for your captive to charge and
-Who should own the captive and who should the Directors be?
-Would your captive benefit from pooling risk with unrelated insurers?

CLAIMS MANAGEMENT
-If your captive is called upon to pay claims who determines what is covered and how much should be paid?