Patriot National can help you significantly reduce workers’ compensation costs and better control their risk by forming a captive.
Captives can often provide lower net costs as the captive owner may receive both the underwriting profit and the investment income from their insurance program. Premium paid by the company to its captive may be tax deductible. Captives are also an excellent option for companies finding it difficult or unduly expensive to buy workers’ compensation coverage from commercial carriers.
Patriots’ experts work with independent agents and their client companies to create Segregated Portfolio Captives that meet the unique needs of each business. We craft simple and sound solutions that provide companies substantially more value for their workers’ compensation premiums.
Potential Benefits of Captive Ownership
Captives are a proven way for a company to customize their program and to maximize profit potential. Patriot captives are domiciled in the Cayman Islands, a British overseas territory and the fifth-largest banking center in the world.
Potential benefits of captive ownership include:
Underlying insurance policy often less expensive
Premiums may be tax deductible
Investment income creation
Reduced operating costs
Increased access to coverage
Coverage and cost stability