Question 1
My business currently spends at least $250,000 in premiums on work comp, general liability, and business auto policies combined.
Yes
No
Why this is important
Why is this important?
Indicates a financial scale suitable for captive insurance consideration.
Suggests potential for more cost-effective risk financing methods.
Offers potential savings and profit returns in a captive scenario.
Question 2
We believe in the importance of sharing best practices in safety, risk management, and operations with our organization and with others outside our organization, such as peers and business owners in other industries.
Yes
No
Why this is important
Why is this important?
Aligns risk management with business goals.
Enhances collective intelligence through best practice sharing.
Drives group performance in a captive arrangement.
Supports mutual accountability and community in risk approach.
Leads to stable, predictable insurance costs and competitive advantage.
Question 3
We are growing frustrated because our insurance premiums are increasing despite our low claims experience.
Yes
No
Why this is important
Why is this important?
Aligns premiums with actual loss experience, not market rates.
Provides relief from arbitrary traditional insurance pricing.
Offers stability against market fluctuations, aiding financial planning.
Encourages continued effective risk management.
Creates potential for cost savings and reinvestment into business.
Question 4
We are committed to implementing and maintaining effective risk management practices within our organization.
Yes
No
Why this is important
Why is this important?
Indicates proactive risk mitigation, essential for captives.
Reduces frequency and severity of losses.
Allows for profit retention from well-managed risks.
Drives down costs for all members in a captive.
Promotes a healthy risk pool and continuous improvement.
Question 5
We are comfortable with the idea of retaining some level of risk internally, understanding that not all risks need to be transferred to a traditional insurer.
True
False
Why this is important
Why is this important?
Demonstrates a mature risk management philosophy.
Balances risk retention with strategic risk transfer.
Reduces insurance costs and encourages internal risk management.
Offers financial flexibility and strategic reinvestment.
Enhances tailored coverage to match unique company risk profiles.
Question 6
Investing in our employee safety training is a priority for us, and we allocate resources to these areas annually.
True
False
Why this is important
Why is this important?
Reduces claims, lowers costs, and increases safety.
Directly rewards through potential dividends in captives.
Demonstrates commitment to workforce protection and productivity.
Positively impacts loss history and company reputation.
Incentivizes continued safety investments with financial rewards.
Question 7
Our company's history shows fewer claims compared to industry averages because we run a safe operation.
True
False
Why this is important
Why is this important?
Validates effective risk management and safe operations.
Reflects positively in a captive with lower premiums and dividends.
Demonstrates value to other captive members.
Strengthens collective risk profile and captive’s financial position.
Rewards safety and risk management efforts financially.
Question 8
It’s frustrating that part of our insurance premium (traditional carrier) is being used to pay claims of poor performers.
True
False
Why this is important
Why is this important?
Captives eliminate subsidizing other companies' poor risk management.
Incentivizes maintaining high standards of risk management.
Ensures tailored premiums to actual performance and risk level.
Reflects a preference for transparency, member control, and fair costs.
Question 9
We are fed up with the insurance industry and its 'one size fits all' mentality.
True
False
Why this is important
Why is this important?
Captives offer tailored risk management solutions.
Captives design insurance programs that align with specific needs.
Results in more effective risk management and potential cost savings.
Avoids the limitations of average market needs dictating coverage.
Question 10
We are interested in an insurance program that offers long-term savings and control, understanding that it may require more upfront investment.
True
False
Why this is important
Why is this important?
Acknowledges readiness for upfront investment in exchange for savings.
Offers control over insurance decisions and risk management.
Leads to potentially significant long-term cost reductions.
Provides structure for alignment with specific company goals.
Ensures financial participation directly benefits the member’s risk profile.
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