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November 2023 Edition

Wow, this year has flown by and we are coming down to the wire for Captive applications! With everything going on in the world today, now is the time to cover yourself and your business.


From cyber attacks to shady contractors, you need to make sure you are covered from these and many other risks. This is where captive insurance comes in and helps protect your assets in case something wrong happens.


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)

As Cyber-Insurance Market Stabilizes,

Captives' Relevance Persists

While the commercial cyber-insurance market is stabilizing and perhaps even softening, there's still a place for captive insurance in organizations' cyber-insurance programs, a new white paper from Milliman contends.

Keep Reading


Have You Talked to

U.S. Captive Yet?

With less than 2 Months to go in 2023

Now is the Time to Act!

  

Application Submittals are Open Through 

December 18th, 2023

(For new placements and renewals through January 1, 2024).

 

With 2023 tracking to be one of U.S. Captive Partners & Associates busiest years yet, advance planning is critical.

 

Now is the time to speak with a U.S. Captive Management Consultant about your client’s insurance needs and risk management profile.  

 

Call Us Today At:

1-833-US-CAPTIVE

(1-833-872-2784)


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Captive Education

Conferences & Webinars
Check out the Captive
Calendar of Events
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Events & Webinars

World Captive Forum

January 24-26, 2024 | Orlando, FL

Celebrating its 33rd year, Business Insurance looks forward to providing the high-caliber educational content and meaningful networking opportunities World Captive Forum is known for.

Register
Captive Claim Highlight

Client Profile

Industry: Real Estate
Specialty:  Commercial real estate manager and developer
Location: Florida

Claim Information

Description:  One of our Insureds hired a subcontractor to help them complete a job. The subcontractor demonstrated unsatisfactory workmanship and the inability to complete their part of the project in accordance with the required code. The subcontractor breached its contract with the Insured at a magnitude that justified terminating the subcontractor agreement. The Insured incurred additional expenses associated with fulfilling the defaulting subcontractors contractual obligations. Through their Captive's Actual Net Loss Insurance Policy "Subcontractor Default" coverage, the Insured received reimbursement for those additional expenses incurred.
Line of Coverage:  Subcontractor Default

This exposure was elected for coverage by the client under their Captive Policy. This resulted in a claim payment amount of approximately $60,000.

*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:


11/5: Daylight Saving Time Ends 

11/7: Election Day

11/11: Veterans Day

11/13: World Kindness Day

11/23: Thanksgiving Day

11/24: Black Friday

11/25: Small Business Saturday

11/27: Cyber Monday

11/28: Giving Tuesday

11/30: Hurricane Season Ends


This Month is Observed as:


Nat'l Diabetes Month

Lung Cancer Awareness Month

Nat’l Adoption Month


Why Form a Captive?
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.
Captives 101
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
  • Disability
  • Long-Term Care
  • Business
  • Personal
  • Captive
  • More...
Ask The Expert!
48 South Service Road
Suite 400
Melville, NY 11747

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