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June 2023 Edition
This is from my letter in The Captive Tribune from June 2019:

Can you believe we are almost halfway through the year? The economy is plugging along, businesses are hiring and creating new jobs, unemployment is at record lows, and the EU is undergoing massive changes.

With a booming economy, many corporations and businesses are taking on more risks...

Wow, how times have changed and how fast things took a turn.

Are you or your client's business taking more risks out of necessity or for growth. Either way, captives are a great cost-effective risk management tool for business owners, as they can help provide supplemental insurance coverage and reduce costs.

If you have any questions about implementing a Captive, call me directly or visit our Captive 101 section on our website by Clicking Here.

Sincerely,
Larry Papola
Lawrence J. Papola, Jr.
President
1-833-US-CAPTIVE
(1-833-872-2784)
Cyber-Insurance Market Continues To Grow Though Price Hikes Slow
Cyber insurance is the fastest-growing segment of the US property-casualty insurance segment, with direct written premiums increasing 51 percent year on year in 2022 to more than $7.2 billion, according to Fitch Ratings.
Speed to Market with Delaware
With more than 730 captive insurance companies, Delaware is one of the largest domiciles, with captive managers saying key reasons for that growth are the accessibility, high quality, and stability of the state's captive regulators.
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Captive Claim Highlight
Client Profile
Industry: Medical
Specialty:  Provider of Spine and Brain Care
Location: Florida
Claim Information
Description:  One of our Insureds had a key piece of equipment break down. The equipment was specifically disclosed to Oxford during underwriting in relation to Mechanical Breakdown coverage. The Insured's practice was unable to use the machine while it was being repaired which took 4 days. Through their Captive's Actual Net Loss Insurance Policy "Mechanical Breakdown" coverage, the Insured was able to recover the income lost during the equipment downtime.
Line of Coverage:  Mechanical Breakdown
This exposure was elected for coverage by the client under their Captive Policy. This resulted in a claim payment amount of approximately $30,000.
*Please note that each claim will undergo an independent investigation and thorough review process. Various components specific to the claim at hand will be assessed thoroughly to determine if the loss is covered by the policy.
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Happening This month:

6/2: Nat’l Donut Day
6/3: World Bicycle Day
6/5: World Environment Day
6/7: Global Running Day
6/8: World Oceans Day
6/14: Flag Day
6/18: Father’s Day
6/20: American Eagle Day
6/21: Summer Solstice
6/23: Take your Dog to Work Day

This Month is Observed as:

National Safety Month
Men’s Health Month
Why Form a Captive?
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There are numerous potential advantages to forming a captive insurance company. Captive insurance companies are formed for both economic and risk management purposes. By forming a captive insurance company, a business can dramatically lower insurance costs in comparison to premiums paid to a conventional property and casualty insurance company.
Get Your Insurance Quotes From The:
Insurance Experts provides expert knowledge and assistance to individuals, families, and business owners who are making decisions about the proper insurance coverage for their needs. We’re here to help you cover losses you shouldn’t have to on your own.

Let our team of experts guide you through the daunting task of selecting the right insurance coverage for you or your business:
  • Life
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  • More...
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Suite 400
Melville, NY 11747

Office: 1-833-US-CAPTIVE
     (1-833-872-2784)
Fax: 888-929-6565