An advisory board of a captive insurance unit can perform a dual role for a business by both overseeing operations and serving as a platform to discuss risk management policy for the corporation it serves, a brokerage expert said.
The advice came at an online seminar presented by Chicago-based insurance broker Aon Corporation titled “Evaluating and Developing an Effective Captive Strategy.”
Paul Graziano, executive vice president of Aon's national industry and product group, who moderated the session, said “evaluating and implementing a captive strategy can be a daunting task.”
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