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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“Horses for courses.”
The best captive domicile is the one that expedites the application for admission, treats the captive fairly post licensing and gets along with the captive manager.[rä-jer-izem]
Words of wisdom from our CEO, Michael Rogers
“We formed CFRRG using another captive manager, who structured us as a stock company. When we switched to Risk Services they converted CFRRG to a reciprocal, which has saved us over $5,000,000 since 2005.”
Paul Sneed, Communities of Faith Risk Retention Group