Products
HGH Captive insurance company was specifically formed to insure the risks of your business. Captive insurance is an alternative risk strategy that is both practical and sustainable for those who qualify. Your premium is based on who are and not based on your industry as a whole.
HGH Captive insurance company was specifically formed to insure the risks of your business. Captive insurance is an alternative risk strategy that is both practical and sustainable for those who qualify. Your premium is based on who are and not based on your industry as a whole.
Heritage Global Holdings
Commercial Insurance
Captive insurance is popular with owners of privately-owned mid-market businesses because they provide powerful benefits unseen with other planning strategies.
With a captive insurance company like Heritage Global Holdings, business owners receive platinum-level, tailored coverages that can fill gaps in their existing commercial policies.
Captive insurance is popular with owners of privately-owned mid-market businesses because they provide powerful benefits unseen with other planning strategies.
With a captive insurance company like Heritage Global Holdings, business owners receive platinum-level, tailored coverages that can fill gaps in their existing commercial policies.
Workers Comp
Give your employees benefits if they get a work-related injury or illness. It gives you benefit if your injured employee or their family sues your business, it can help cover your legal costs.
General Liability
Protect you and your company from a variety of claims including bodily injury, property damage, personal injury and others that can arise from your business operations.
Commercial Auto
Liability and physical damage protection for vehicles, such as cars, trucks and vans, that are used for business. Coverage that meets your specific needs protecting your business.
The HGH Difference
White glove service and commitment comes with exclusive access to the best in the industry
Better Claims
Platnium level claim service from Sedgewick. Every year, millions of individuals and companies count on Sedgwick to be there when something unexpected happens. They believe caring counts, which is why they're make the claims process as simple and clear as possible. Every day, they take care of people facing uncertain situations.
Better Risk Management
Barragan Corp International, A Strategic Risk Management Company safety and health specialists are experienced, well-trained professionals whose goals are to ensure compliance with local, federal and state regulations and help employers and employees reduce on-the-job hazards and prevent injuries, illnesses, and deaths in the workplace.
Have a Question?
A captive insurance company is a subsidiary established by one or more commonly owned businesses to insure the risks of the controlling entity and/or its affiliates or its individual owners. One of the primary goals of a captive insurance company is to provide improved risk management for an organization.
Bottom line, captives stave off high out-of-pocket costs for companies who have non-standard risk exposures. Even for risks such as cyber-attacks, captives provide an air-tight alternative to volatile insurance products found in the conventional market.
Captive insurance is one of the best risk management and risk financing tools for mid-market companies available.
Captive insurance companies provide great ancillary financial benefits. To find out if a captive insurance solution is right for you, we have highlighted a few characteristics of companies where a captive insurance may be beneficial to the organization:
- Financial stability
- Good risk management practices
- An interest in financing assumed risk positions
- Substantial operations in high tax jurisdictions
- Multiple global operating entities with insurable risk spread throughout
- Long-term commitment to the use of a captive insurance company
- Reasonably predictable insurance risk
- Sophisticated financial planning
- Existing balance sheet reserves for self-insured business risk exposures or large deductibles (i.e., worker’s compensation, general liability, professional liability, etc.)
When set up and managed effectively, captives offer significant benefits, including:
- Coverage tailored to meet the parent’s specific needs and risk profile – especially when coverage is unattainable due to availability or price.
- Reduced operating costs
- Insurance coverage purchased in the conventional market reflects a significant markup to pay for the insurer’s acquisition costs, administration, and overhead, as well as profit to the insurer.
- A captive can reduce these costs – with the size of the reductions dependent upon the captive’s loss experience and claims handling costs.
- Revenue recognition of extended warranty (service contract) margin
- Without a captive, companies are forced to earn the entire amount based on a curve or pro-rata. But with a captive, they cede the premium and can take the margin into income.
- Investment income to fund losses
- With premiums paid upfront and losses funded over time, investment income can accumulate in a tax-free domicile, providing additional funds to pay for losses and a corresponding reduction for further captive funding.
- Ability to access reinsurance markets directly
- Because reinsurers deal primarily with insurance companies, a captive allows the parent to go directly to the reinsurer and avoid unnecessary markups.
- Ability to customize insurance programs and greater control over claims
- A captive can finance any risk it chooses, customize the terms of its policies, and specify claims handling and procedures.
- Tax advantages
- Captives offer a number of tax advantages, such as: accumulation of underwriting and investment income in a tax friendly domicile, ability to deduct paid premiums for the insured, and a variety of other tax incentives, depending on the domicile.
Sources: Captive.com, “Captive Insurance – Why or Why Not?”, June 10, 2019; State of Vermont, Department of Financial Regulation, www.dfr.vermont.gov/captives/advantages-captive-insurance