March 2021 Edition
March madness is here! Not the basketball kind, but the continuation of the COVID one that hit us over a year ago. But, I am staying positive and seeing good things coming. Maybe it is because I was down in Florida last week when an alligator walk across the 18th fairway as I was playing.
Take a look at these positives from North Carolina and the captive industry in the articles below. Mitigating risk is the "In" thing to do these days for companies. Call me and I can walk you through the details on how you or your clients can benefit.

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

Larry Papola
Lawrence J. Papola, Jr.
Interest in captives ‘sky high’: Gallagher
Captive insurers are increasingly providing relief especially for short-tail lines, as commercial insurance rates increase across the board, according to the top executive at Arthur J. Gallagher & Co.

J. Patrick Gallagher, chairman, president and CEO, said captive interest is “sky high” and that the brokerage is seeing more businesses filling out property towers while utilizing their captive.
North Carolina Licenses
47 Captives in 2020
North Carolina licensed 47 captive insurance companies and approved 126 cells and series in 2020, according to the North Carolina Insurance Commissioner Mike Causey.

At the end of 2020, North Carolina had a total of 795 risk bearing captive insurance entities under the regulation of the North Carolina Department of Insurance (NCDOI), composed of 250 captive insurance companies and 545 cells and series.
Captive Claim Highlight
Client Profile
Industry: Real Estate
Specialty: Owner of Multiple Commercial Properties
Location: Connecticut
Claim Information
Description: The roof at one of our Insureds' properties was severely damaged due to heavy winds. Our Insured's commercial policy covered the damage: however, they exceeded their deductible. Through their Captive's Actual Net Loss Policy's "Deductible Reimbursement" coverage, they were able to recoup their deductible expense.
Line of Coverage: Deductible Reimbursement
This exposure was elected for coverage by the client under their Captive Policy. This resulted in a claim payment amount of approximately $260,000.
*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.
March 2021 Calendar
MAR 3: World Wildlife Day
MAR 5: Employee Appreciation Day
MAR 8: Int’l Women’s Day
MAR 14: Daylight Saving Begins (DST)
MAR 17: St. Patrick’s Day
MAR 20: Spring Begins
MAR 23: National Puppy Day
MAR 29: Vietnam War Veterans Day
MAR 30: National Doctors’ Day
This Month is Observed as:
Women's History Month
National Nutrition Month

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