Services
Kane’s role is to manage every stage of the PCC or ICC formation and ongoing management on your behalf. From the initial viability study through to all aspects of the administration of the cell, Kane’s dedicated and specialist team will take you through every step of the process.Our comprehensive range of services can be divided into two key phases in the lifecycle of the PCC/ICC:
- the formation process
- the ongoing management and administration
The Viability Study This first stage establishes whether your company will benefit from self insurance. It involves an assessment of the financial and operational standing of your organisation to determine if the PCC/ICC option makes sense financially.
The Feasibility Study If there are positive results from the viability study, the next stage is to carry out a Dynamic Financial Analysis to produce a comprehensive business plan for setting up the PCC/ICC or renting a cell from an existing structure. The detailed study will identify all set-up costs, regulatory and capital requirements, statutory expenses, recommended domiciles and operational needs.
Registration and Licensing Kane will manage every stage of the process to ensure that every aspect of the incorporation and registration process goes smoothly and maintains strict adherence to regulatory requirements.
Ongoing management
Once the PCC or ICC has been formed, Kane can then manage all aspects involved in the running of the new vehicle. These services include:
- Underwriting and insurance technical support
- Claims administration, payment and reserving
- Maintaining statutory books and records
- Submission of annual regulatory returns
- 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
- Secretarial duties