A captive solution: steep hikes in property/casualty premiums have a variety of companies looking to form a captive insurance company. (Property/Casualty: Alternative Market).When MesaStaff's cost for workers compensation insurance jumped 40% over last year, President Brian Hall
As a professional employment organization, MesaStaff provides out-sourced human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. for small and medium-size Adj. 1. medium-size - intermediate in size medium-sized, moderate-size, moderate-sized sized - having a specified size businesses. Although employees work at client sites, the company supplies health, dental, 401(k), workers' comp comp See comparison. and other benefits. With MesaStaff's current cost for workers' comp averaging $1.5 million a year, Hall thinks the answer to the problem may be a captive insurance Captive insurance companies are limited purpose insurance companies established with the specific objective of financing risks emanating from their parent group or groups, they sometimes also insure risks of the parent company's customers. company. "We have extremely low losses, maybe $250,000 a year," Hall said. "We know there are expenses with a captive captive said of naturally wild or feral animals kept in captivity for educational and scientific investigation with no attempt being made to domesticate them. , but we think it will offer huge savings by bringing [the coverage] in house." Hall estimates that savings for the company will reach $1 million a year when administration costs are backed out. And workers' comp is a serious issue for MesaStaff, because without it they can't operate. "About half of the companies have gone out of business this year because of workers' comp costs," Hall said. As traditional insurers raise prices, exit business lines and withdraw capacity, many companies are exploring-and adopting-the captive model. Estimates show that captive formations increased 5.9% in 2001, a significantly higher rate of growth than the 2.4% seen in 2000. So far this year, the number of new formations has not been as high as expected, but interest is still high, with the total number of captives now at 4,723. Archer Daniels Midland The Archer Daniels Midland Company (NYSE: ADM), is a conglomeration based in Decatur, Illinois. ADMoperates more than 270 plants worldwide, where cereal grains and oilseeds are processed into numerous products used in food, beverage, nutraceutical, industrial and animal feed , an agricultural-processing company, is looking to use a captive to offer an owner-controlled insurance program. In what is basically a wrapup insurance program, an owner will purchase coverage, such as general liability or workers' comp, for subcontractors. "Because you buy in volume, you generally get a better price," said Mike Lusk a. 1. Lazy; slothful. n. 1. A lazy fellow; a lubber. v. i. 1. To be idle or unemployed. , corporate vice president with ADM See add/drop multiplexer. (language) ADM - A picture query language, extension of Sequel2. ["An Image-Oriented Database System", Y. Takao et al, in Database Techniques for Pictorial Applications, A. Blaser ed, pp. 527-538]. . The program also provides an added layer of comfort, especially for large construction projects. "You know who the insurance company is and what kind of loss control it will give you," he said. Rising prices and decreased capacity are also the factors driving Lusk's consideration of a captive. "If you went back a few years ago, the financial incentives for an owner-controlled insurance program weren't were·n't Contraction of were not. weren't were not there," Lusk said. "And the construction industry is one of those places where insurance companies are not that anxious to provide coverage at this time." For construction contractors, a more hazardous class when it comes to workers' comp, increasing rates directly affect their profitability. "Most of the contracts are for time and materials labor and materials (time and materials) n. what some builders or repair people contract to provide and be paid for, rather than a fixed price or a percentage of the costs. , and insurance programs are in the time component," Lusk said. "When their rates go up, our costs go up." One Idea, Many Uses Simmons Simmons may refer to: People:
adj. Of, associated with, or tending to cause inflation: inflationary prices; inflationary policies. Adj. 1. and subject to volatility. You can put price risk into a captive." With a captive, Simmons also can get more involved in spreading and reducing its risk, while lowering costs. "Insurance is another cost of doing business, and anything you can do to cut those costs and reduce expenses that results in better management, such as eliminating unnecessary fees to agents and brokers, then you should do that," said Brewer. "And having your own insurance company allows you a certain leverage you can use with carriers and reinsurers in cutting costs." For Simmons, the savings could be substantial, potentially seven figures. Other companies, however, are looking primarily for more control over their risks. For instance, Ascension Health Ascension Health is a non-profit company that operates a network of hospitals and related health facilities in the United States. It is the nation's largest Catholic and largest non-profit health system[1]. , a Catholic health-care organization, wants to use an existing captive insurance company to build better relationships between the company and the physicians who work in its facilities. "There's a lot of pressure right now with physician groups looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. alternatives [in professional liability coverage], particularly in certain markets such as Texas or Florida Florida, state, United States Florida (flôr`ĭdə, flŏr`–), state in the extreme SE United States. A long, low peninsula between the Atlantic Ocean (E) and the Gulf of Mexico (W), Florida is bordered by Georgia and where there is pressure on coverage, cost and capacity," said Steve v. t. 1. To pack or stow, as cargo in a ship's hold. See Steeve. Gillen This is a list of notable people named Gillen, a name of Irish origin:
Contraction of we are. we're we are trying to provide a reasonable cost alternative for the physician groups, while being mindful mind·ful adj. Attentive; heedful: always mindful of family responsibilities. See Synonyms at careful. mind of the level of risk we want to take on as an organization." Ascension Ascension, in Christianity Ascension, name usually given to the departure of Jesus from earth as related in the Gospels according to Mark (16) and Luke (24) and in Acts 1.1–11. is evaluating how its captive can provide value to the company's physician groups in terms of managing claims and providing joint defenses for lawsuits. "When you retain the risk, you have the opportunity to manage it, not only from a loss-prevention standpoint The Standpoint is a newspaper published in the British Virgin Islands. It was originally published under the name Pennysaver, largely as a shopping-coupon promotional newspaper, but since emerged as one of the most influential sources of journalism in the , but from a mitigation MITIGATION. To make less rigorous or penal. 2. Crimes are frequently committed under circumstances which are not justifiable nor excusable, yet they show that the offender has been greatly tempted; as, for example, when a starving man steals bread to satisfy standpoint," Gillen said. This would give the company more control over managing the risk of both the company and the physician groups. That control, and the two groups working together, might result in a better outcome from an adverse event than if the hospital and physicians were in conflict with one another. And like construction companies, any impact on costs will immediately affect the bottom line. "To the extent we can control, reduce or mitigate mit·i·gate v. To moderate in force or intensity. mit  i·ga tion n. the loss, it allows us to be in a better position to focus
dollars on something besides risk" Gillen said.Lane Industries, which owns businesses ranging from office-products manufacturing to security and alarm systems, has been involved with a group captive since 1992. Now, the company is looking to branch out into its own captive to gain a level of risk-management control and flexibility that isn't is·n't Contraction of is not. isn't is not isn't be possible with their group captive. "We don't don't 1. Contraction of do not. 2. Nonstandard Contraction of does not. n. A statement of what should not be done: a list of the dos and don'ts. feel the group captive is fully insulated in·su·late tr.v. in·su·lat·ed, in·su·lat·ing, in·su·lates 1. To cause to be in a detached or isolated position. See Synonyms at isolate. 2. from a lot of market issues," said David Jewell David Jewell (born 1934, died 2006) was a prominent British independent school headmaster during the late 20th century. Life and career David Jewell was born in 1934 in Porthleven, West Cornwall, the son of a Wing Commander in the Royal Air Force. , director of risk management. "We want more control over claims, the providers, reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. and various components of the program." The company also feels it can save additional dollars by moving its risk into a single-parent captive. More Challenging Than It Appears As beneficial as a captive might be for these companies, the changing market means it's it's 1. Contraction of it is. 2. Contraction of it has. See Usage Note at its. it's it is or it has it's be ~have not as easy or cheap to establish one as it once was. "Capacity provided today is hugely expensive, and putting a captive together is a challenge," said George George, river, c.345 mi (560 km) long, rising in a lake on the Quebec-Labrador boundary, E Canada. It flows N through Indian Lake (125 sq mi/324 sq km) to Ungava Bay (an arm of Hudson Strait). Estes, chairman and chief executive officer of Discover Re Managers. "Everyone is focused on doing traditional business where they are more familiar and can get the type of returns they want." So the captive doesn't does·n't Contraction of does not. come together as easily in the complex and sophisticated market as it might in a less tight market, he said. Valerie Name Valerie is a common name for a girl in both English and French. Spelt as "Valery" or "Valeri", it is a common male name in parts of Europe (particularly in France and Russia). It means brave and courageous. Walters Wal·ters , Barbara Born 1931. American television newscaster and reporter. After working for the National Broadcasting Company (1963-1976), she joined the American Broadcasting Company (1976-1979) and became the first woman to anchor the nightly , director of global risk management for Ciena Corp., sees several areas of concern, as the company considers placing its errors and omissions errors and omissions n. short-hand for malpractice insurance which gives physicians, attorneys, architects, accountants and other professionals coverage for claims by patients and clients for alleged professional errors and omissions which amount to negligence. coverage into a captive. First is the cost of implementation, especially considering the uncertainty surrounding sur·round tr.v. sur·round·ed, sur·round·ing, sur·rounds 1. To extend on all sides of simultaneously; encircle. 2. To enclose or confine on all sides so as to bar escape or outside communication. n. the market. "Do we want to go into this, knowing we have coverage now, and what if all of a sudden the market gets better?" Walters asked. Captives can take a year or more to set up and are not necessarily the short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. low-cost alternative, so it may take years to see a return on the investment, she said. "And it might not be considerable." Even though MesaStaff has a good loss record and works only with safe companies, the organization is grappling with serious reinsurance and fronting issues. "Right now, no one likes nursing homes, trucking companies and PEOs," Hall said. A professional employment organization's risk experience and rates are not affected by just the organization's losses. They also are affected by the client company's loss experience and safety programs. As this adds to the uncertainty of the risk, reinsurance treaty Reinsurance Treaty (June 18, 1887) Secret agreement between Germany and Russia. Arranged by Otto von Bismarck after the collapse of the Three Emperors' League, it provided that each party would remain neutral if either became involved in a war with a third nation, and that agreements completely exclude these businesses. Fronting is a concern for many companies. As the number of quality and stable fronting carriers decreases, companies are finding that the costs are higher and the aggregate protection isn't anywhere close to the attachment point that companies could get in the past, said Kathryn Kathryn may refer to: People with the given name Kathryn:
advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , a subsidiary of Argonaut Group. In a fronting procedure, a primary insurer--or fronting company--cedes the risk it has underwritten to its reinsurer re·in·sure tr.v. re·in·sured, re·in·sur·ing, re·in·sures To insure again, especially by transferring all or part of the risk in a contract to a new contract with another insurance company. , which could be a captive. The ceding cede tr.v. ced·ed, ced·ing, cedes 1. To surrender possession of, especially by treaty. See Synonyms at relinquish. 2. company--or front--executes appropriate security for projected losses under existing regulations, but it works with the captive and its owners to obtain maximum finance leverage. While retaining primary responsibility for regulatory and statutory compliance, the primary insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. has a small, controlled amount of actual risk exposure. "The pool is getting smaller, and the pricing for fronting is getting expensive," Jewell Jewell is the name of several places in the United States:
Fronting organizations are tightening their underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. standards, asking and receiving higher attachment points for stop-loss stop-loss, n a general term referring to that category of coverage that provides insurance protection (reinsurance) to an employer for a self-funded plan. coverage, and placing a greater emphasis on claims management and loss-prevention programs. Fronting companies also are less likely to unbundle To sell components in a system separately. Contrast with bundle. such items as underwriting and claims handling, which companies feel can help keep costs down if they are placed in a captive, Westover said. "An example is Liberty Mutual, which was quite actively involved in fronting for captives and still will for large group captives," she said. "But no way will they relinquish claims supervision and handling." The issues surrounding fronting have some companies looking to start captives in a catch-22 situation. Reinsurers expect to have a recognizable fronting company in place before offering a quote. As the number of fronting companies thins, this will get harder to do. But the real catch comes from the fact that fronting companies want to know that reinsurance is in place before they will consider getting involved. Critical Points to Consider For Archer Daniels Daniels is a surname that may refer to:
Contraction of did not. didn't did not didn't do disrupt the local insurance market in Decatur, Ill., where many of the existing contractors have insurance through local agents. "Because of the substantial savings, we felt we had to do it. That is what our shareholders would expect us to do," Lusk said. Ascension's biggest concern is the cost of providing liability coverage to its physician groups through a captive, because it needs to be competitive with other coverage options. "Our intent is to make this a long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. viable option for all of our facilities, not just a short-term solution because of cost," Gillen said. "We need to be realistic on the rate structure we establish." This means that Ascension needs to be mindful of the amount of risk it takes on, especially during the premium-generation phase when a loss could seriously jeopardize jeop·ard·ize tr.v. jeop·ard·ized, jeop·ard·iz·ing, jeop·ard·izes To expose to loss or injury; imperil. See Synonyms at endanger. the overall program. So the company wants to "be in the ballpark" with competitive rates to avoid adverse selection because pricing is so low. "We need to even out the risk," Gillen said. To make it a long-term success, Ascension is looking at the captive from a risk-transfer standpoint, retaining a small portion of risk at the beginning and increasing its risk retention as the program matures. Choosing partners for their captives, however, is probably the most important decision these companies have to make. Partners for captives can range from captive managers to accountants and lawyers to claims administrators, and the choice of each one can impact the cost and success of a captive program. Most of the risk managers agreed that a partner really needs to understand all of the elements contributing to their organization's cost of risk and needs to have experience with the captive market. "If you can't do the work yourself because you don't have a strong internal risk-management function, then you need to partner with someone who can," said Jewell. "Don't just jump at a captive arrangement without the expertise to study the issue--all the issues." Risk managers should be warned that starting a captive is not a slam-dunk or a knee-jerk reaction, Jewell said. "This is a long-term thing." RELATED ARTICLE: Tips for a Successful Captive Risk managers need to look at many factors before jumping into the realm of captive insurance companies. Capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. needs, risk selection, underwriting standards, fronting and reinsurance--the list goes on and on. And the current hard market isn't making the process easy, even for the most experienced risk managers. Kathryn Westover, president of Captive Advisory Services, a unit of Argonaut Group, and George Estes, chairman and chief executive officer of Discover Re Managers, offered the following tips for success in the alternative risk market. Focus Westover: If a company is living quarter to quarter because of its share price or earnings per share, it may not be able to reap the full benefits of a captive. Captives are long-term investments, and returns will be seen over a period of time, not necessarily in the first quarter. Estes: The company needs to have clearly defined objectives, as with the start-up Start-up The earliest stage of a new business venture. of any new business venture. It needs to identify where it is, where it wants to be and how to get there, with performance benchmarks along the path. The company also needs to have a clear understanding of its risk, current and future. Long-Term Commitment Westover: Captives are a long-term strategy for managing risk. Everyone from senior executives to the board of directors must buy into the concept of self-managing the company's risk. Estes: Any insurance enterprise, by definition, is a long-term commitment. It's not a structure that a company jumps into for a year or two and then out. Setting up the captive's structure, understanding its loss characteristics and risk appetite are costly and require a long-term commitment and a strong leader to see results. Alignment of Interests Westover: Partners must really understand all of the elements contributing to the company's risk. The captive works only when the company is focused on managing, stabilizing stabilizing, v to hold a limb motionless in order to ground its energy; a standard isometric resistance technique, it releases tension and lengthens muscle fibers. and reducing their total cost of risk. Estes: Each partner's true interest is the potential for profit and loss, and trouble follows when all interests are not aligned. The company should choose partners that recognize the captive's objectives and will work to achieve them. True alignment of interests leads to mutual purpose and clarity of focus. Diversity of interest leads to failure. Cost of Capital Westover: If the company has a high cost of capital, it will have pressure on its credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities . So it will be harder to gain the advantages a captive would offer to a cash-rich company. Risk Selection Westover: The company must have a real understanding of the risk it carries and what it is insuring against. Most risk managers are very good at that, but senior management's understanding needs to be ensured. Prudence Prudence five wise virgins brought lamp oil in case groom arrived late. [N.T.: Matthew 25:1–13] jacinth endows owner with discretion. [Gem Symbolism: Kunz, 82] Metis goddess of caution and discretion. [Rom. Myth. Estes: Companies need to exhibit good judgment, common sense and caution when starting a captive. Starting a captive is really an art, and you don't create a work of art by slapping slapping, n massage technique that uses the flat palms of the hands percussively; a form of tapotement. See also tapotement. paint on a canvas. Success will depend on the qualitative and quantitative decisions the company makes. High Standards Estes: With any endeavor, set the bar high and make execution a priority. The company is now in the compliance and insurance ball game. It has to be able to execute to meet both regulatory compliance and customer needs. BEST'S CAPTIVE DIRECTORY UPDATE The Best's Captive Directory has added 70 newly licensed captives to its listings. Best's Captive Directory is the authoritative reference source for comprehensive information on captive insurance companies worldwide. The directory, published by A.M. Best Co., lists about 4,400 single-parent and group captives as well as governmental pools and group self-insurance self-insurance, n the setting aside of funds by an individual or organization to meet anticipated dental care expenses or dental care claims, and accumulation of a fund to absorb fluctuations in the amount of expenses and claims. funds. Below is a listing of the newly licensed captives since an update to the directory was published in the June 2002 issue of Best's Review. Best's Captive Directory can be purchased by contacting Customer Service at (908) 439-2200, Ext. 5742.
Insurance Company Sponsor
CIM Reinsurance Co Ltd Canadian Insurance
Market Inc
Clarica Life Insurance Co Clarica Life Insurance
Company of Canada
Hirst Reinsurance Ltd Hirst Investments
Management Inc
Norcan Insurance Co Ltd Group Laperriere
Verrault Inc
Xelan Insurance Co Ltd The Economic Association
of Health Professional
Archimedes Risk Solutions Ltd TriNet Inc
Oxford Alliance Insurance Co Ltd Baker Hughes Corp
Volunteer Insurance Ltd Vanguard Health System
Burlington Northern Santa Burlington Northern
Fe Insurance Co Ltd Santa Fe Corp
Solution Insurance Ltd
RetentionAlternatives Ltd
Performance Insurance Co Ltd
Mendocino Ltd
Newman Insurance Co Ltd
Whirlpool Insurance Co Ltd
Life Science Insurance Co Ltd
ServicePro Ltd
Boston Medical Center
Insurance Co Ltd
Domoch-Southerland Assurance Ltd
Folco Assurance Co
MGM Reinsurance Co Ltd
PN Assurance Ltd
Rembrandt SFC Ltd
Unico Insurance Co Ltd
USA Indemnity and Guaranty Co SPC
Western Reserve Assurance Co Ltd
Atlantic United Insurance Co Ltd
Residential Reinsurance 2002 Ltd
The Heartland Insurance Co Ltd
Queensland Assurance Co Ltd
Bicinsco Ltd
Biltmore Insurance Co Ltd
Captran Reinsurance Ltd
Power Sport Dealers SPC Ltd
Stonebridge Insurance Ltd
Holidaybreak Insurance Co Ltd
Cimpor Reinsurance SA Cimpor SA
Anticimex Reinsurance SA Anticimex AB
FCCC Select Inc American Oncologic
Hospital
Compass Indemnity Corp Compass Bank
EDS Insurance Vermont Inc Electronic Data
System Corp
Northgroup Sponsored Captive Northgroup Captive
Insurance Inc Insurance Inc
Equitime (A Reciprocal Air Transportation
Risk Rentention Group) Association
of America Inc
First Medical Insurance Co The Children's
(A Risk Retention Group) Hospital of Philadelphia
Colleage Insurance Co Educational & Institutional
Insurance Admin
South Broward Physicians Memorial Healthcare System
Risk Retention Group Inc
FNF Title Reinsurance Co Security Union Title
Insurance Co
Oruga Indemnity Corp Oruga Holdings Inc
Charles River Insurance Co Norfolk & Dedham Mutual
Fire Insurance Co
Pogonia Insurance Inc Monday Inc
California Association
of Joint Powers Authority
Employment Risk
Management Authority
Northern California
Cities Self-Insurance Fund
School Insurance Authority
Vector Control
Joint Powers Agency
Kentucky Municipal Risk
Management Association
Louisville Area Governmental
Self-Insurance Trust
Local Government
Insurance Trust
State of Minnesota-Risk
Management Fund
New Hampshire Public Risk
Management Exchange
New Mexico County
Insurance Authority
North Carolina League
of Municipalities
Ohio Township Association
Risk Management Authority
Tennessee Municipal League
Risk Management Pool
Virginia Transit
Liability Pool
Providers Insurance Corp
Portage Bay Insurance
RHI Insurance Co Ltd
Lokahi Assurance Ltd
Kartshamns Re
Insurance Company Domicile
CIM Reinsurance Co Ltd Barbados
Clarica Life Insurance Co Barbados
Hirst Reinsurance Ltd Barbados
Norcan Insurance Co Ltd Barbados
Xelan Insurance Co Ltd Barbados
Archimedes Risk Solutions Ltd Bermuda
Oxford Alliance Insurance Co Ltd Bermuda
Volunteer Insurance Ltd Bermuda
Burlington Northern Santa Bermuda
Fe Insurance Co Ltd
Solution Insurance Ltd Bermuda
RetentionAlternatives Ltd Bermuda
Performance Insurance Co Ltd Bermuda
Mendocino Ltd Bermuda
Newman Insurance Co Ltd Bermuda
Whirlpool Insurance Co Ltd Bermuda
Life Science Insurance Co Ltd Bermuda
ServicePro Ltd Bermuda
Boston Medical Center Cayman
Insurance Co Ltd
Domoch-Southerland Assurance Ltd Cayman
Folco Assurance Co Cayman
MGM Reinsurance Co Ltd Cayman
PN Assurance Ltd Cayman
Rembrandt SFC Ltd Cayman
Unico Insurance Co Ltd Cayman
USA Indemnity and Guaranty Co SPC Cayman
Western Reserve Assurance Co Ltd Cayman
Atlantic United Insurance Co Ltd Cayman
Residential Reinsurance 2002 Ltd Cayman
The Heartland Insurance Co Ltd Cayman
Queensland Assurance Co Ltd Cayman
Bicinsco Ltd BVI *
Biltmore Insurance Co Ltd BVI
Captran Reinsurance Ltd BVI
Power Sport Dealers SPC Ltd BVI
Stonebridge Insurance Ltd BVI
Holidaybreak Insurance Co Ltd Isle of Man
Cimpor Reinsurance SA Luxembourg
Anticimex Reinsurance SA Luxembourg
FCCC Select Inc Vermont
Compass Indemnity Corp Vermont
EDS Insurance Vermont Inc Vermont
Northgroup Sponsored Captive Vermont
Insurance Inc
Equitime (A Reciprocal Vermont
Risk Rentention Group)
First Medical Insurance Co Vermont
(A Risk Retention Group)
Colleage Insurance Co Vermont
South Broward Physicians Vermont
Risk Retention Group Inc
FNF Title Reinsurance Co Vermont
Oruga Indemnity Corp Vermont
Charles River Insurance Co Vermont
Pogonia Insurance Inc Vermont
California Association
of Joint Powers Authority California
Employment Risk
Management Authority California
Northern California
Cities Self-Insurance Fund California
School Insurance Authority California
Vector Control
Joint Powers Agency California
Kentucky Municipal Risk
Management Association Kentucky
Louisville Area Governmental
Self-Insurance Trust Kentucky
Local Government
Insurance Trust Maryland
State of Minnesota-Risk
Management Fund Minnesota
New Hampshire Public Risk
Management Exchange New Hampshire
New Mexico County
Insurance Authority New Mexico
North Carolina League
of Municipalities North Carolina
Ohio Township Association
Risk Management Authority Ohio
Tennessee Municipal League
Risk Management Pool Tennessee
Virginia Transit
Liability Pool Virginia
Providers Insurance Corp Hawaii
Portage Bay Insurance Hawaii
RHI Insurance Co Ltd Hawaii
Lokahi Assurance Ltd Hawaii
Kartshamns Re Switzerland
Insurance Company Manager
CIM Reinsurance Co Ltd MIMS International (Barbados)
Clarica Life Insurance Co Marsh (Barbados)
Hirst Reinsurance Ltd International Insurance Management
Norcan Insurance Co Ltd Captive Management
Xelan Insurance Co Ltd MIMS International (Barbados)
Archimedes Risk Solutions Ltd JLT Risk Solutions
Oxford Alliance Insurance Co Ltd JLT Risk Solutions
Volunteer Insurance Ltd Marsh
Burlington Northern Santa Marsh
Fe Insurance Co Ltd
Solution Insurance Ltd Marsh
RetentionAlternatives Ltd Marsh
Performance Insurance Co Ltd Aon Insurance Managers
Mendocino Ltd Aon Insurance Managers
Newman Insurance Co Ltd Castlewood Ltd
Whirlpool Insurance Co Ltd Becher & Carlson
Life Science Insurance Co Ltd Insurance Brokerage & Management
ServicePro Ltd Symphony Management
Boston Medical Center Marsh
Insurance Co Ltd
Domoch-Southerland Assurance Ltd JLT Risk Solutions
Folco Assurance Co Marsh
MGM Reinsurance Co Ltd Caledonian
PN Assurance Ltd Marsh
Rembrandt SFC Ltd JLT Risk Solutions
Unico Insurance Co Ltd Marsh
USA Indemnity and Guaranty Co SPC Marsh
Western Reserve Assurance Co Ltd Marsh
Atlantic United Insurance Co Ltd Aon Insurance Managers
Residential Reinsurance 2002 Ltd HSBC Insurance Management
The Heartland Insurance Co Ltd Marsh
Queensland Assurance Co Ltd Marsh
Bicinsco Ltd Marsh Management
Biltmore Insurance Co Ltd Belmont Insurance Management
Captran Reinsurance Ltd Trafford Insurance Management
Power Sport Dealers SPC Ltd AMS Insurance Management
Stonebridge Insurance Ltd Belmont Insurance Management
Holidaybreak Insurance Co Ltd Aon Risk Services (IOM) Ltd
Cimpor Reinsurance SA Marsh Management Services
Anticimex Reinsurance SA Sinser (Luxembourg) Sarl
FCCC Select Inc Aon Insurance Managers
Compass Indemnity Corp AIG Insurance Management
EDS Insurance Vermont Inc Aon Insurance Managers
Northgroup Sponsored Captive Aon Insurance Managers
Insurance Inc
Equitime (A Reciprocal Marsh Management Services
Risk Rentention Group)
First Medical Insurance Co Marsh Management Services
(A Risk Retention Group)
Colleage Insurance Co Marsh Management Services
South Broward Physicians Aon Insurance Managers
Risk Retention Group Inc
FNF Title Reinsurance Co Marsh Management Services
Oruga Indemnity Corp Risk Services Vermont
Charles River Insurance Co SB&T Captive Management Co
Pogonia Insurance Inc Aon Insurance Managers
California Association
of Joint Powers Authority Self-managed
Employment Risk
Management Authority Self-managed
Northern California
Cities Self-Insurance Fund Self-managed
School Insurance Authority Self-managed
Vector Control
Joint Powers Agency Self-managed
Kentucky Municipal Risk
Management Association Self-managed
Louisville Area Governmental
Self-Insurance Trust Self-managed
Local Government
Insurance Trust Self-managed
State of Minnesota-Risk
Management Fund Self-managed
New Hampshire Public Risk
Management Exchange Self-managed
New Mexico County
Insurance Authority Self-managed
North Carolina League
of Municipalities Self-managed
Ohio Township Association
Risk Management Authority Self-managed
Tennessee Municipal League
Risk Management Pool Self-managed
Virginia Transit
Liability Pool Self-managed
Providers Insurance Corp Becher + Carlson
Portage Bay Insurance Marsh
RHI Insurance Co Ltd Willis
Lokahi Assurance Ltd Marsh
Kartshamns Re Aon Insurance Managers
* British Virgin Islands
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