Captive Management and Services
A Captive is an Insurance Company subsidiary within the corporation’s structure.
- It is recognized as an insurance company for regulatory and reinsurance purposes
- It usually is domiciled in a specialized location either offshore or onshore where permitted by law
- It can benefit corporations small or large
- Globally acceptable, not limited to the traditional locations like the USA and UK and is increasing in popularity in Canada.
A properly managed Captive can help the Corporation:
- Maintain or enhance current limits and coverage
- Reduced overall costs
- Enhanced corporate control of insurance
- Programme consolidation
- Programme flexibility
- Enhanced access to insurance/reinsurance markets
- Stabilize insurance costs
- Reduce frictional costs
- Single deductible for multi interest claims
- Minimize external/internal influences
Beaufort Group in conjunction with its sister organization AIR, have a broad knowledge and experience dealing with many domestic and international oil and gas companies captives. AIR has access to international insurance resources and are not restricted to corporate mandates.