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PRODID:-//ChamberMaster//Event Calendar 2.0//EN
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BEGIN:VEVENT
DTSTART:20190424T153000Z
DTEND:20190424T173000Z
X-MICROSOFT-CDO-ALLDAYEVENT:FALSE
SUMMARY:Finances for Family Business Peer Group
DESCRIPTION:Captive Insurance Companies\n\n\n\nBusiness owners generally have three common goals\; to reduce taxes\, reduce business risk\, and reduce health care costs. In this session\, we will be introducing Captive Insurance Companies\, commonly called "Captives\," as an innovative (and somewhat-secret) solution to accomplish these goals.\n\n\n\nA captive insurance vehicle is an insurance company established with the specific objective of insuring risks stemming from its parent group. A large operating company may have multiple and complex risks for which traditional insurance may be unavailable or expensive\; therefore\, it may create a wholly owned captive insurance company to self-insure those risks.\n\n\n\nInstead of paying a premium to a third party insurance company\, the premium is paid to the captive. Depending on the level of claims received\, the captive could retain any excess of the premium received over the losses\, therefore providing a more direct incentive for loss prevention. Conversely\, claims could exceed the premium paid. The captive structure may reduce the amount of premium otherwise paid by the parent company to a traditional commercial insurance company as well as provide several tax benefits. Captives are formed to cover a wide range of risks similar to those covered by a commercial insurer\; most captives cover casualty lines and general liability.\n\n\n\nThis session is led by Michael Beers of the Fortis Group at Morgan Stanley and Steve Fox\, strategic partner of the Fortis Group.\n\n\n\nGenerously sponsored by The Fortis Group at Morgan Stanley
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\nCaptive Insurance Companies
\n
\nBusiness owners generally have three common goals\; to reduce taxes\, reduce business risk\, and reduce health care costs. In this session\, we will be introducing Captive Insurance Companies\, commonly called "\;Captives\,"\; as an innovative (and somewhat-secret) solution to accomplish these goals.
\n
\nA captive insurance vehicle is an insurance company established with the specific objective of insuring risks stemming from its parent group. A large operating company may have multiple and complex risks for which traditional insurance may be unavailable or expensive\; therefore\, it may create a wholly owned captive insurance company to self-insure those risks.
\n
\nInstead of paying a premium to a third party insurance company\, the premium is paid to the captive. Depending on the level of claims received\, the captive could retain any excess of the premium received over the losses\, therefore providing a more direct incentive for loss prevention. \; Conversely\, claims could exceed the premium paid. The captive structure may reduce the amount of premium otherwise paid by the parent company to a traditional commercial insurance company as well as provide several tax benefits. Captives are formed to cover a wide range of risks similar to those covered by a commercial insurer\; most captives cover casualty lines and general liability.
\n
\nThis session is led by Michael Beers of the Fortis Group at Morgan Stanley and Steve Fox\, strategic partner of the Fortis Group.
\n
\nGenerously sponsored by \;The Fortis Group at Morgan Stanley
\n
\n
\n
LOCATION:Ohio Dominican University Griffin Student Center - ROOM 258 1215 Sunbury Rd. Columbus\, Ohio 43219
UID:e.9081.4233
SEQUENCE:3
DTSTAMP:20240329T154914Z
URL:https://business.familybusinesscenter.com/events/details/finances-for-family-business-peer-group-04-24-2019-4233
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