Zurich is now offering its group captive product to agency, association and managing general agent (MGA) captives using independently owned segregated portfolio companies.
“With the segregated portfolio option we now offer the agencies we work with a broader set of captive capabilities that can help our customers mitigate the cost of forming and maintaining a captive facility,” said Lynn Cordes, president, Zurich Alternative Solutions.
The segregated portfolio company creates individual captive “cells” that are separate from each other but linked to the captive, segregating the assets and liabilities of each cell and protecting participants against another cell’s insolvency or bad loss experience.
“In the more than 16 years Zurich has been writing captive business, we have established a successful integrated team, combining underwriting, claims, marketing, risk engineering, actuarial, finance, policy issuance and regulatory compliance. We are now bringing that creativity and innovation to agency, association and MGA captives, utilizing established segregated portfolio companies,” said Jill Bryant, vice president, Zurich Alternative Solutions.
Zurich also offers coverage options such as umbrella and property to support the captive lines of business and provide a single-carrier solution to the client.
Source: Zurich Financial Services,
www.zurichna.com
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