December 2023 Edition

As the year comes to a close, we'd like to express our sincere gratitude and appreciation to the advisor community, partners and clients for contributing to our success.

As we reflect on 2023, it has actually been a great year for the Captive Insurance industry and our clients. As we get ready to move into the new year, we look forward to great things to come. But, remember, the application deadline is December 18th!

All of us here at US Captive Partners & Associates wish you a

Happy Hanukkah, Merry Christmas and Happy New Year!

Sincerely,

Larry Papola

Lawrence J. Papola, Jr.

President

LPapola@US-Captive.com

1-833-US-CAPTIVE

(1-833-872-2784)

Commercial Lines Saw Month-over-Month Increases in October

Average premium renewal rates of all major commercial insurance lines increased month over month in October, according to the Ivans Index, a regular premium renewal rate index compiled by the Ivans insurance exchange service.

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North Carolina Department Names Joe Rosenberger Chief Captive Analyst

The North Carolina Department of Insurance has named veteran captive regulator Joe Rosenberger chief captive analyst for the department's captive insurance division.

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Have You Talked to

U.S. Captive Yet?

With 18 Days to go...

Now is the Time to Act!

Application Submittals are Open Through

December 18th, 2023

(For new placements and renewals through January 1, 2024).

With 2023 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

World Captive Forum

January 24-26, 2024 | Orlando, FL

Celebrating its 33rd year, Business Insurance looks forward to providing the high-caliber educational content and meaningful networking opportunities World Captive Forum is known for.

Captive Claim Highlight

Client Profile

Industry: Manufacturing

Specialty: Temporary Structure Rental Company

Location: Tennessee

Claim Information

Description: Several leasor structures of an Insureds suffered hurricane damage. The client was contractually bound to cover the cost of the damages. They filed a claim with their commercial carrier and used their Captive's Actual Net Loss Insurance Policy "Deductible Reimbursement (Wind and Hail)" coverage to recover their deductible expense.

Line of Coverage: Deductible Reimbursement (Wind & Hail)

This exposure was elected for coverage by the client under their Captive Policy. This resulted in a claim payment amount of approximately $75,000.

*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:

12/4: National Cookie Day

12/7: Pearl Harbor Remembrance

12/7: Hanukkah Begins

12/13: Nat’l Day of the Horse/Nat’l Cocoa Day

12/15: Hanukkah Ends

12/21: Winter Solstice

12/25: Christmas

12/31: New Year’s Eve

This Month is Observed as:

Universal Human Rights Month

Safe Toys and Gifts 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

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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:

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48 South Service Road

Suite 400

Melville, NY 11747

Office: 1-833-US-CAPTIVE

(1-833-872-2784)

Fax: 888-929-6565