Insurance broker CCIG has agreed to establish and be a part of a group captive insurance programme for companies across the US.
The company says ‘group captives unite companies with a shared commitment to safety, risk management and financial oversight to create and fund their own insurance programme.’
CCIG's captive manager partnership includes a range of industry-specific group captives.
Its construction-specific group captive has gained attention from clients already. In its 20 years of existence, it has produced approximately 27 per cent of returns on premium and distributed more than US$45 million in premiums back to captive members.
Andrew Mahoney, president of CCIG, comments: "Group captives are an extension of our clients' entrepreneurial spirit, and we're proud to partner with a captive manager that provides an established track record of successful, profitable and stable group captives which we can now offer to clients."
He adds: "Clients who already take the initiative to manage their costs through robust safety programmes and risk management strategies can further capitalise on additional savings not available in the traditional marketplace."
