November 2024 Edition

Wait, do you hear that? The silence of no more political ads on TV or texts blowing up your phone.

Things are a little better this time around. We at least know who the President will be and who has control of the Senate. Now, if those tallying the House votes would finish, we could be set. But, this whole election cycle was crazier than 2020. It has been a great reminder of how important it is to mitigate the risks we take in business and prepare ourselves for the unexpected.

We protect businesses from certain types of enterprise risk and help them control their insurance costs here at U.S. Captive Partners & Associates. I enjoy assisting in forming and managing captive insurance companies for our clients and helping them keep more of their insurance money in their pockets.

Also, Monday, November 11th, is Veterans Day, where we honor those who served in our military and are still with us. Veterans Day is one of ten federal holidays recognized nationwide by the United States Government. All non-essential federal government offices are closed on Veterans Day. So, if anyone wants to take me golfing, I am available!

If you have any questions about implementing a Captive, call me directly or visit our Captive 101 section on our website by Clicking Here.

Sincerely,

Larry Papola

Lawrence J. Papola, Jr.

President

LPapola@US-Captive.com

1-833-US-CAPTIVE

(1-833-872-2784)

TIME is Running OUT!

Have You Talked to

U.S. Captive Yet?

With less than 45-Days to go,

Now is the Time to Act!

Application Submittals are Open Through

December 18th, 2024

(For new placements and renewals through January 1, 2025).

With 2024 tracking to be one of U.S. Captive Partners & Associates busiest years yet, advance planning is critical.

Now is the time to speak with a U.S. Captive Management Consultant about your client’s insurance needs and risk management profile.

Call Us Today At:

1-833-US-CAPTIVE

(1-833-872-2784)

Captive Education

Conferences & Webinars

Check out the Captive

Calendar of Events

Events & Webinars

Delaware- Small State of Big Business

CaptiveInsuranceTimes.com In the fall of 2023, Delaware — one of the smallest states in the US — reached a significant milestone: over two million business entities now call it their corporate home. From Fortune 500 companies to newly formed captives, Delaware has become

a preferred location for companies looking to integrate their businesses and optimise operational efficiencies.

Known for its business-friendly policies, including low-cost tax and simplified corporate laws, “the First State is a great first choice for captives through the intentional building of a first-class regulatory structure,” says Delaware insurance commissioner Trinidad Navarro.

Delaware’s corporate laws, often referred to as the “gold standard,” play a major role in attracting captives.

Keep Reading

Commercial Insurance Rate Increases Slow: Ivans

Commercial insurance rate increases slowed slightly in most major coverage lines in October, and rate decreases accelerated in workers compensation, according to a report Tuesday from Ivans Insurance Services, a unit of Applied Systems Inc.

Commercial property continued to see the most significant annual rate increases, averaging 11.2% for business renewing last month, down from 11.8% in September.

In other lines, commercial auto rose 9.6%, compared with 9.7%; business owner’s policy rates increased 8.7%, compared with 8.8%; umbrella was up 8.5% compared with 8.6%; and general liability rose 3.9% compared with 4.5%.

Workers comp rates slipped 1.4%, compared with 1.2%.

-https://www.businessinsurance.com/commercial-insurance-rate-increases-slow-ivans/

Captive Claim Highlight

Client Profile

Industry: Retail/Wholesale

Specialty: Retailer/Wholesaler of Technology Equipment

Location: New Jersey

Claim Information

Description: A newspaper article with purportedly false information was published about one of our Insureds, causing damage to the company's reputation. Through their Captive's Actual Net Loss Insurance Policy "Reputational Risk" coverage, they were able to recoup the expenses incurred through the process of recovering their reputation.

Line of Coverage: Reputational Risk

This exposure was elected for coverage by the client under their Captive Policy. This resulted in a claim payment amount of approximately $450,000.

*Please note that each claim will undergo an independent investigation and thorough review process. Various components specific to the claim at hand will be assessed thoroughly to determine if the loss is covered by the policy.

Happening This month:

7a1630a0-5eb4-443e-a4b3-236e1cfc840f image

11/11: Veterans Day

11/28: Thanksgiving Day

11/29: Black Friday

11/30: Small Business Saturday

11/30: Hurricane Season Ends

This Month is Observed as:

National Diabetes Month

Lung Cancer Awareness Month

National Adoption Month

Why Form a Captive?

There are numerous potential advantages to forming a captive insurance company. Captive insurance companies are formed for both economic and risk management purposes. By forming a captive insurance company, a business can dramatically lower insurance costs in comparison to premiums paid to a conventional property and casualty insurance company.

Captives 101

Get Your Insurance Quotes From The:

Insurance Experts provides expert knowledge and assistance to individuals, families, and business owners who are making decisions about the proper insurance coverage for their needs. We’re here to help you cover losses you shouldn’t have to on your own.

Let our team of experts guide you through the daunting task of selecting the right insurance coverage for you or your business:

Life
Disability
Long-Term Care
Business
Personal
Captive
More...

Ask The Expert!

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48 South Service Road

Suite 400

Melville, NY 11747

Office: 1-833-US-CAPTIVE

(1-833-872-2784)

Fax: 1-888-929-6565