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L. G. Everist has elected to take a different approach. One that puts us more in control of our destiny. For many years, we have been a member of a captive insurance group for our auto, general liability, and workers' compensation lines of coverage. Even though we are part of a large group of companies in the captive, our premiums are based on our own exposures and losses. The safer we are as a company, the more it is reflected directly in our insurance costs.
Captive insurance has gained momentum as more organizations seek innovative ways to manage risk, control costs, and tailor coverage to their unique needs. Unlike traditional insurance, a captive is an insurance company created and owned by the insured organization(s) itself. This structure allows businesses to retain underwriting profits, improve cash flow, and design policies that address specific exposures that are often overlooked by the commercial market. For organizations like ours with strong safety and risk management practices, joining a captive was a game-changing move.
But it’s not just about insurance, it’s about taking control of your risk destiny. How can we be safer? Not to just have fewer claims, but to prevent incidents from happening. Every incident we prevent protects an employee or member of the public, keeps operations moving, and strengthens our performance. In a captive insurance model, that has a measurable impact.
Pictured above, Chad Hartman accepted an award on L. G. Everist's behalf at a captive insurance event.
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