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Captive Insurance for ESOP companies



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Chad Duke, Vice President / Risk Advisor, and Pim Jager, Vice President / Benefits Consultant, were recently featured on the ESOP Podcast where they discussed catch insurance and Scott Insurance's partnership with the National Center for Employee Ownership (NCEO) to create two new catch programs exclusively for ESOP companies, OWN Health (health insurance) and OWN Risk (property and accidents).

Scott's long history as an employee-owned company — and as an industry leader in the development and support of captured insurance programs — has given us unique insights into what makes the captured model an ideal solution for ESOP companies. The majority of ESOPs are well-managed, cooperative and have better-than-average risk profiles. In addition, based on the nature of the ownership structure, many employee-owned companies fall into the intermediate market category and are often too small to self-insure. With these new, innovative captivity programs developed in collaboration with NCEO, participating ESOPs will be able to experience cost savings and enjoy the many benefits of self-insurance but with minimized risk and volatility.

The ideal candidate for catch insurance [19659004] The ideal ESOP candidate for prisoners has:

  • 50 to 500 employees and / or more than 25 million dollars in income
  • Good historical claim experience
  • A strong focus on safety, risk management and employee well-being
  • Strong corporate leadership that values ​​employees and includes health and risk management efforts

Why should an ESOP join the Captive Model?

Some of the benefits of the captive model include:

  • Increased control and transparency over the insurance process [19659006] Significantly reduced annual premiums
  • Stabilization and reduction of insurance costs
  • Earn investment income and subscriptions to beneficiaries Responsibility and common best practice
  • Access to Fortune 500 resources
  • Access protection and access to lower reinsurance costs

OWN Health and OWN Risk also have the added benefit of giving ESOPs the peace of mind that comes with knowing they are cooperating with like-minded organizations.

Learn more about Scott's work with these captured programs by listening to the ESOP Podcast and ESOP Mini-cast.


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