Protected Cell Captives
An economical and expedited captive solution
A PCC is its own legal entity, a trait it shares with traditional insurance companies. However, unlike traditional insurance companies, the structure of a PCC is subdivided into the core, which contains the capital for the whole of the entity, and a large number of individual cells. In a PCC, all cells have the option to be capitalized or to use core funds to meet their capitalization requirements individually and separately from the core.
One of the key benefits associated with a PCC facility is that the assets of each individual cell are statutorily segregated to ensure that a claim against one cell cannot be impacted or covered by the assets of another cell.
Protected Cell Captives allow for:
- Expedited formation timeline
- Low entry cost
- Low annual costs
- Share in underwriting profits and related investment income
- Flexibility with respect to coverage forms and claims handling
- Incentive for risk management and loss control
- Access to reinsurance markets
Risk Services has established multiple special purpose PPC facilities and has access to multiple existing PPC facilities available to clients whose needs would be well-suited by such a captive.
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“We are the smorgasbord of captive insurance. Captive management, regulatory compliance, formation and licensing are the appetizers, policyholder services the main course, and reinsurance placements the dessert.”
Risk Services can provide all the necessary insurance professional services our clients need to complete their captive insurance programs.[rä-jer-izem]
Words of wisdom from our CEO, Michael Rogers
“I first reached out to Risk Services in 2003 for assistance with finding reinsurance on a nursing home program. Prior to that first contact, I hit a dead-end with every previous effort with intermediaries and markets. It was apparent from the outset that Risk Services had the market credibility necessary to allow us to get in front of reinsurers and tell our story. Risk Services came through with a reinsurance program, and our relationship expanded as we hired them for Captive Management services. Since 2003 we’ve been fortunate to work with many fine vendors in the various services needed for our Risk Retention Groups. We believe Risk Services to be irreplaceable. Their knowledge, professionalism, capabilities and responsiveness quite simply, are second to none.”
Mike Miller, Trinity Risk Services Risk Retention Group, New York Healthcare Insurance Company, Inc., A Risk Retention Group