Hard Market Prompts Property Captives
Although property risks generally have not been widely covered by a captive insurer, in this difficult insurance market there are both “hard” and “soft” reasons for doing so, according to experts at the Vermont Captive Insurance Association annual conference in Burlington last month.
“Hard” reasons for forming a captive include saving money by getting an accelerated tax deduction, “and reducing the total frictional costs of an existing risk retention strategy,” said Ed Koral, senior manager at Deloitte & Touche in New York. “Soft reasons have to do with managerial comfort and happiness.”
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