Capstone Associated Services has formed its 150th captive insurance company, which is to be domiciled in Delaware.
Established in 1998, Capstone serves midmarket clients in a variety of industries such as manufacturing, distribution, professional services, medical, oil and gas, other extraction industries, and consulting.
In association with its affiliated law firm, The Feldman Law Firm, clients are offered a “one stop shop for all captive insurance services”, according to Capstone CEO and general counsel Stewart Feldman.
He continued: “While clients can choose whatever services they wish, most midmarket companies aren’t interested in hiring a senior executive on staff to coordinate the captive function.”
The offered services include legal (tax, corporate, financing and regulatory services, and tax controversy, and estate and gift services), the audit services of independent certified public accountants, risk managers, actuaries, property and casualty professionals, pooling and third party insurance arrangements and actuaries.
Clients are responsible for the investment and banking relationship with the captive’s assets.
Although most services are offered in-house, other services are provided by third parties under Capstone and the captive owner’s direction.
Capstone offers property and casualty insurance arrangements with annual premiums ranging from $100,000 to $20 million per year.
