Whether it's a hard or soft market, there are some good motivational purposes for a managing general agent--or for any agent with a program--to consider forming an agent-owned captive, experts say.
However, it is not for everyone, according to Richard L. Suter, assistant vice president, program business development, alternative markets and middle-market programs for The Hartford in Connecticut.
Agents need to know that setting up a captive requires personal financial investment, a strong program and a willingness to take on risk that is traditionally the domain of insurers.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
