Every business needs insurance, even small ones. When the unthinkable happens, you’ll be confident that you can bounce back from disaster thanks to excellent coverage from a professional agency. Yet, handing over your profits in the form of underwriting costs seems like a waste. Unless you’re working with a cell insurance company, it is.
Strength in Numbers
Captive insurance is a company subsidized by a parent business as an alternative to using traditional agencies. Large corporations have used this type of insurance for decades since it allows them to essentially insure themselves. It’s more advantageous than outsourcing because underwriting profits stay within the parent company’s holdings.
Small and medium-sized businesses are at a disadvantage thanks to the costs associated with establishing such a subsidiary. That’s where Protective Cell Captive programs like those offered by Caitlin Morgan Insurance can make a difference. By banding together, businesses may create a new program that functions in much the same way.
Cell insurance companies let businesses have a stake in their own future. Creating lasting partnerships, PCCs allow a group of companies to band together and profit as a whole. By working together, each company shares the burden of set-up and maintenance costs. Using cell insurance lets everyone focus on tomorrow without worry about what’s to come.