When it comes to risk management solutions, rent a captive can be an attractive option for many companies. This is especially true for those business entities that simply can’t afford more comprehensive insurance coverage. This coverage can be crucial for mitigating the ill-effects of ongoing litigation.
What Is Rent a Captive Insurance?
In general, captive insurance companies are ‘in-house’ firms who deal chiefly with one business or entity when offering insurance products. This allows a company to retain more control over the type of insurance they receive, which can prove highly beneficial from the risk management prospective.
However, many businesses simply can’t afford to create their own captive insurance companies. Fortunately, renting an existing captive insurance company can be extremely useful in this respect because it allows you the same benefits of captive insurance without the costs.
How Does It Work?
With rent a captive insurance, a business in search of insurance is linked to an existing captive company. As a result, the business in question can be privy to the expertise offered by the captive insurance company, without incurring the financial demands typically associated with such service.
Customizable Insurance for Every Business
A variety of options are essential when choosing the appropriate insurance plan. By electing to rent a captive insurance company, a business can take full advantage of the benefits of captive insurance without spending exorbitant amounts of money.