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Take Control of Your Insurance with Captive Insurance Management

Comprehensive Captive Insurance Solutions by Parson Insurance Agency in Ohio

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Parson Insurance Agency/ captive insurance management

Captive Insurance Management Provided By Our Agency

Captive Insurance empowers you to manage your insurance needs more effectively by reducing costs and customizing coverage to fit your specific requirements.

Understanding Captive Insurance

Captive Insurance refers to an insurance company established by a business owner or a collective of business owners to insure their own risks. Through shared ownership, these captives offer tailored insurance, risk transfer, and risk management solutions uniquely designed to meet the needs of their insured parent companies.

Coverage Offered by Captive Insurance

Captive Insurance provides financial risk solutions for a variety of coverages, including:

Employee healthcare insurance
Workers' compensation
Product liability
Professional liability
Extended warranty and service contracts
Cyber security and terrorism
Other company-specific risks

Cost Implications of Captive Insurance

Starting and maintaining a captive insurance program involves initial setup costs and ongoing annual expenses. Typically, you should budget approximately $20,000 for these startup and operational costs, though this can vary based on individual circumstances.

Advantages of Captive Insurance

Enhances Risk Management
Multi-State Capabilities
Reduces Insurance Costs
Offers Comprehensive Coverage
Returns Underwriting Profits and Investment Income
Improves Cash Flow

Captive Insurance from Parson Insurance Agency in Ohio can significantly benefit your business by offering more extensive coverage, reducing costs, and enhancing cash flow. Let us take care of your insurance needs so you can focus on growing your business without worrying about associated risks.

Contact Parson Insurance Agency today for more details on how Captive Insurance can benefit your business in Ohio.

Already have Captive Insurance Management? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.

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