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Ongoing Management

Once the registration process has been completed and the captive is up and running, our focus turns to the ongoing management and administration of the vehicle. This process can be broken down into five main functions:

1. Company Management and Administration

• Underwriting and insurance technical support
• Claims administration, payment and reserving
• Budgets and forecasts
• Liaise with reinsurers/brokers/claims managers/underwriting agents/legal advisers
• Premium collection and payment and premium allocation
• Reinsurance recoveries
• Manage cash funds and cashflow

2. Corporate Services

• Issue of share certificates
• Maintaining the captive's statutory books and records
• Board meetings: preparation of board packs and minutes
• All other secretarial requirements

3. Regulatory Compliance

• Submission of annual regulatory returns
• Monitoring of solvency margin and other statutory requirements
• Ongoing liaison with the insurance regulator including notification of changes to the business plan

4. Insurance Management and Claims Handling

• Underwriting services
• Issue of policy documentation and reinsurance documentation
• Claims management and administration

5. Financial Services

• Opening and maintenance of bank accounts
• Investment management and liaison with investment managers
• Financial reporting and general accounting
• Liaison with the captive's auditors

We strive to work in partnership with each of our clients. Every relationship is founded upon a comprehensive understanding of their individual aims and objectives. Only by gaining this level of understanding can we successfully tailor an effective self-insurance strategy.