Is captive insurance right for you?
As the price of commercial insurance grows and policy terms become stricter, organizations are turning to captive insurance. Captives not only reduce insurance costs but can also provide an alternative source of income and cash flow.
But getting up and running — or even determining whether a captive is right for your organization — is no small challenge. And that’s where Wipfli can help. Our dedicated, multi-disciplinary team of captive insurance specialists have years of experience helping our clients design, build and implement captives.
We provide critical services throughout each phase of the captive’s lifecycle:
- Formation: Wipfli evaluates your current insurance risk structure, performs a feasibility study and then begins designing and building your captive. We have a thorough implementation process that takes into account regulations, tax, cash management and more.
- Operation: Once you’re up and running, focus shifts to ongoing operation. Wipfli provides annual tax, accounting and audit services.
- Evaluation: With our periodic health checks, we help you ensure the captive is effective and growing. We assist in reevaluating your initial investment strategy to retarget for the long-term while maintaining regulatory compliance. We also help you reevaluate existing risk and determine whether you should expand your captive.
Contact us to learn whether captive insurance is the right path for your organization.
Our team
Greg Foster, CPA
Greg Foster is a partner with over 30 years of practice in public accounting. His experience includes providing insurance, banking, credit union and securities clients with various services including financial statement audits, public and private securities registrations and mergers and acquisitions. As leader of the insurance services group, Greg oversees a variety of services to insurance companies including traditional insurers and reinsurers as well as captives, risk retention groups, reinsurance pools and similar arrangements.
