PROTECTING WHAT’S IMPORTANT
INSURANCE IN SOUTH CAROLINA
Change is a part of life. As your life and business change, you need insurance that changes with you. TAiG specializes in creating insurance strategies for individuals and businesses in South Carolina, including West Columbia, Irmo, Lexington, Chapin, and surrounding areas.
What Is Captive Insurance
There are many different ways that Captive Insurance Companies can be set up, but the majority of them are owned by a company or group of companies insuring themselves. TAiG has successfully set-up a Captive Insurance Company and it’s expansion and profits are now controlled by individuals like you.
Why Captive Insurance?
The purpose of a Captive Insurance Company manage overall insurance costs by insuring risks that they can effectively plan for. Captive Insurance Companies provide numerous benefits including:
- They allow for hard to place risks to be insured.
- They offer flexibility with policy forms and coverage.
- They have a low overhead cost.
- They allow for more control over your policy than traditional insurance plans.
- YOU are the underwriting authority.
- They operate within a favorable regulatory environment.
- When used successfully they can create income which can be invested
TAiG’s Captive Insurance Options
At TAiG we helped create White Eagle Insurance Company, a Captive Insurance company approved by the South Carolina Department of Insurance in May 2016, to self-insure property assets owned or managed by a single parent company located in 49 states.
Many business owners upon hearing the benefits have a log of questions. To create a Captive you must follow the guidelines set forth in the state or country it will be domiciled. The process consists of actuarial studies and estimates based on past losses and expected premiums and must be approved by the SC Department of Insurance.
- Over 90% of Fortune 500 have captive insurance.
- There are currently over 70 global captive insurance domiciles.
- Over 35 US States & Territories allow captives.
- 50% of all Property & Casualty premiums are through captives.
- South Carolina is one of the top 15 domiciles globally.