Implementation

The decision to form a captive insurance company should closely resemble the prudent decision making process for the establishment of any new business enterprise.

Safe Harbor Risk Advisors management team will work with your financial and legal advisors to help determine the essential elements critical to successful captive design, formation and ongoing management of your captive.

The insurance regulators in your chosen domicile will require that you enlist a team of specialists to provide the expertise needed to help develop a long-term plan which includes initial implementation and ongoing management of your captive insurance company.

At Safe Harbor Risk Advisors, we have found that by developing a Best-in-Class team approach, your captive insurance company will benefit from retaining the services of several different independent service providers including captive manager, legal counsel, and independent actuary. The mission of this team is to work with you and your advisors on a turn-key basis to assure compliance with the regulatory provisions of your chosen domicile as well as legal, operational, and reporting responsibilities for your captive insurance company.

Establishing a captive insurance company involves many steps the professionals at Safe Harbor Risk Advisors will walk you through the basic steps you are likely to go through in the implementation process for your captive. We coordinate all areas of implementation including, but not limited to: initial consultation, informal feasibility analysis, risk management review, engagement process, domicile selection, completion of a feasibility study, conducting coordinated underwriting, application process, obtaining regulatory approval and closing procedures.