Bickmore Risk Services and Consulting

Captives generally can be described as insurers formed by noninsurance entities or individuals in which they (the founders) are the primary beneficiaries.

A disturbing hardening of the insurance market in the US in the 1980s resulted in the unavailability or unaffordability of certain lines of insurance for major corporations, large cities, and not-for-profit organizations. This market hardening created the captive movement as we know it today. The number of captives in existence worldwide today is close to 5,000. Most captives have a single parent; however, many captives have multiple owners.

Today, there are a few types of captives that are difficult to characterize as either single-owner or multi-owner: agency-owned captives, rent-a- captives, and protected-cell captives. Many, if not most, captives provide some form of liability insurance. Primary general liability, products liability, workers compensation, auto liability, directors and officers liability, professional liability (such as medical malpractice), and excess and umbrella liability represent large segments of the market. However, in addition to liability insurance, captives write other traditional lines of insurance such as property coverage.

What We Do

BRS provides essential advise during the formation and ongoing operation of Captive entities. Our intention is to share the costs and rewards of risk for our Captive clients, by optimizing administrative and management processes and minimizing the time and expenses associated with managing Captives.

• Form and structure Captives and related programs
• Handle Captive accreditation preparations
• Streamline Captive approval processes
• General Captive management/administrative support
• Advise Captive companies on membership growth opportunities
• Work with Captive boards of directors, and executive committees