When a client migrates to the RE–PAID program to incorporate their captive, they tend to do so for the long-term.
When working with I–RE, the difference for agents is that the lifetime value of their client relationship increases.
Brokers work with I–RE as they would with any other underwriter. Everything is the same in terms of placing A rated cover supported by a US-based claims service.
And clients continue to rely on the trusted relationship and expert advice they have with their broker.
We work together with brokers and captive managers to provide an alternative to participating in the general insurance market. Risks are underwritten in a way that reflects risk profile, rather than that of the aggregated general market.
We start with a thorough analysis of risk data, conducting an underwriting audit and actuarial analysis, so that we can underwrite an insurance and reinsurance program that best delivers for underwriting profit.
As part of our underwriting process, we help set a risk retention and aggregate stop loss limit that fits within risk appetite and financial capability of the captive.
Loss history is considered on its own merit. The captive owner benefits from individually underwritten rates, retention, limits and aggregate stop loss limits.
Typically, we adopt ISO policy wordings and endorsements for excess and surplus lines policies, issuing wordings for both A rated insurer and simultaneously for the captive. This avoids any time delays or gaps in cover.
Cover can be tailored to meet individual requirements and we also accommodate manuscript wordings. Again depending on the risk appetite and capacity of the captive insurance company.
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