Mutuals
Mutual insurance companies have a long history that dates back hundreds of years. In the UK, amongst the best known examples are the early P&I (Protection and Indemnity) clubs set up by British ship owners in the 18th century. Since then, their appeal has expanded to such a degree that today’s mutual policyholders represent virtually all industry sectors and all company types and sizes.The main advantage of the mutual insurance company is that it can offer a level of flexibility and depth of coverage which is difficult to replicate in the commercial insurance sector. Because policyholders (members) share a common risk profile, cover is tailored to meet their unique risk management needs.
At Kane, our team has enabled many of our clients in both the marine and non-marine sectors to take full advantage of the flexible risk retention and management solutions afforded by this extremely diverse and well-established insurance vehicle.
The mutual offers greatest benefit to companies which have a robust balance sheet and profitable business and companies or groups / associations with a better than average risk profile. This solid platform will enable them to make the long-term commitment necessary to best manage their insurance and risk management objectives and to meet the needs of other policyholders.
Kane’s talented team of experts have many years’ experience structuring and running mutual insurance companies for the benefit of our clients. We aim to work in partnership with you to meet your unique risk management needs, independent of broker or insurer control.