What is a Captive?

At PI Captive Services, we define captives as independently owned and operated insurance companies that provide insurance to, and are controlled by, their owners. Captives have many advantages. Like traditional insurance, they can respond to multi-coverage and multi-state programs. Clients who use captives avoid commercial insurers’ overhead expenses and receive back any underwriting profits and investment income. Captives are often incorporated and conduct business under the jurisdiction of an offshore domicile.

In order to see if your business would benefit from the services of a captive, a feasibility study should be conducted by a qualified actuary.