NFP, a property and casualty broker, has established the NFP Captive Management (Alberta) Corp following the recent enactment of the Captive Insurance Companies Act in Alberta.
The act establishes a regime of captive insurance in the province, authorising NFP to form and administer Alberta-domiciled captive insurance companies to clients.
Joseph Seeger, managing director and co-lead of CRSG, Canada at NFP, comments: “NFP is very excited about this new legislation and the opportunity it creates for Canadian employers to form captive insurance companies domiciled in Alberta.
“In the face of rising costs and challenging coverage access, we have been preparing for months to be ready to deliver the specialised expertise clients need to evaluate and execute a captive structure. NFP has built an extraordinary team of experienced captive professionals to mobilise our first-mover advantage.”
NFP has also made two appointments to the complex risk solutions group (CRSG) to bolster the firm’s captives and alternative risk offering.
Both Sam Jackson and Paul Young joined the broker firm in April, as vice president of captive management and senior advisor for captive management respectively.
Jackson most recently held the role of senior broking advisor at Rogers Insurance. Before this, he was director of underwriting at Palm Insurance Canada, and was president of Energy Insurance Group from July 2003 to February 2016.
Young previously served as vice president of finance at Accommodate Insurance Management, before which he was inventory control specialist at Canadian Energy.
Seeger adds: “Sam and Paul possess a deep understanding of the captive market and the structures and processes required to operate a successful captive. They add great value to our organisation and clients pursuing alternative risk mitigation opportunities in Alberta.”
