Atlas launches Vortex for pooling workers’ comp
Atlas Insurance Management has launched its new captive structure, Vortex, a compensation risk exchange.
Vortex Re, a North Carolina reinsurance company, operates the new captive structure, which will allow participating captives to pool their workers’ compensation risks in order to achieve risk distribution.
The new captive structure will mean each company buys reinsurance for its own risk from Vortex Re, which in turn shares its assumed risk with the pool participants by buying reinsurance from them.
Martin Eveleigh, chairman of Atlas, commented: “Financing retained risk in a captive insurance company can not only lower your annual premiums but can also create a new stream of profit revenue.”
