Captive Insurance

Are there captive insurance benefits?

Tax benefits are not a true measure of whether or not to own a captive insurance company. Insurance is a risky business. Rudler, PSC helps you decide if your industry, business model and risk tolerance fit properly with the value and potential benefits offered through a captive.

There are many types of coverages that a business owner may choose to insure. The business may also purchase one level of commercial insurance and then supplement coverage with a captive. The variety of options requires a knowledgeable advisor who can guide you through these decisions. In fact, you may already be assuming risk due to the size of your deductibles. Instead, premiums could be paid to a captive while simultaneously providing asset protection to the operating business.

Work with a CPA who understands this area of insurance and how to navigate it from an accounting and business perspective. Rudler, PSC also has relationships with captive management companies that support ongoing management of your captive.

Once your captive is up and running, Rudler, PSC keeps you informed on changes in accounting rules, reporting and liabilities. Contact us to conduct a feasibility study and help you determine if a captive may reduce your insurance costs. If so, you may be able to better tailor policies to fit the unique needs of your business.

“Businesses are often forced to effectively self-insure risks (whether they realize it or not) because either the risk is so unusual that insurance cannot be purchased for it at any price, or because the insurance to cover the risk is exorbitantly expensive. These are ideal risks to be covered by a captive, and indeed this is one of the primary purposes of captive insurance.”

—Lori Warden, CPA, CGMA, Rudler, PSC

Rudler, PSC reviews the overall risk of running a company. Captive insurance may be one solution to manage your risk. Visit any of our industry pages to learn how we advise specific types of businesses. Some of our services related to captive insurance include:

Tax

  • corporate and individual tax

Accounting and Assurance

  • audits, reviews, compilations
  • captive reporting

Business Advisory

  • strategic planning
  • captive insurance feasibility studies
  • cash flow management
  • ownership structures

 

CONTACT:

Lori Warden, CPA, CGMA
Accounting & Auditing Quality Control Shareholder
859-331-1717

 

Related News and Resources:

Kentucky Captive Association
Kentucky Department of Insurance – Captive Insurance
Ohio Captive Insurance Association
Ohio Department of Insurance – Captive Insurance