What is a Captive Insurance Agent in Kansas City KS?

A captive insurance agent in Kansas City KS is one that offers an alternative to traditional insurance policies for businesses. A group captive insurance program is a company that is owned by the businesses that are insured by it. There is a management company that administers the program. It provides operational functions, such as structure, legal issues, accounting, and claims. A captive company provides another form of risk management that differs greatly from traditional insurance policies.

One major difference is that premiums are based solely on the claims history of a business rather than on potential risk. That makes premiums approximately twenty-five percent lower than traditional policies. Savings can add up quickly, depending on the number of policies held by the business. Other differences also favor the business. Investment income is gained from premiums, and the underwriting profits are returned to member owners. Profits from traditional insurance policies are kept by the insurance carrier.

Superior loss control via safety measures leads to further reduction in premiums. Business participation in seminars, for example, compliance with safety standards, and awards for safety will bring down premiums. Another advantage of captive insurance programs is that the business has control over claims handling. An Independent Captive Insurance Agent in Kansas City KS can explain the concept, review all the advantages, and compare pricing with traditional insurance policies. That allows business owners to make informed decisions about their insurance needs, comfort levels, and budgets.

Free quotes are available for both traditional policies and captive alternatives. Business owners can Get more information by going online, or setting up an appointment to discuss possibilities with an agent. Protecting the business is paramount so exploring all the ways that can be achieved is time well spent. Owners should make sure they completely understand the risks and advantages of captive programs before selecting any policies. Check with other businesses that participate in the traditional alternative to find out the difference it has made for them.

In addition to insurance policies, other valuable services are offered. Total safety management, the development of loss control packages, and claims management consultation are available. Experience modification review and forecasting is available as well. Complete services are designed to help businesses manage risk, decide which policies are needed, and find cost-effective policies.