We are award-winning Captive Insurance specialists
Captive Insurance, Adelaide: what is it?
Captive Insurance is a type of cover that allows you more control over your insurance policies. By creating your own insurance company, also known as a ‘captive’, you’ll be offered stability in a market constantly changed by natural disasters, pandemics, inflation and other global events.
Benefits of Captive Insurance
Captive Insurance can offer your Adelaide business a multitude of financial benefits, including:
This is not an extensive list. Please contact us to see if Captive Insurance is right for your Adelaide business.
How does Captive Insurance work?
When you rely on traditional insurance options, your insurer has complete authority over the type of coverage you receive, how much you need to pay, and whether your claims are valid or not.
Captive Insurance, on the other hand, lets you create your own insurance company, or 'captive,' which gives you more authority over the risks you insure. Captive entities are valid entities that are used by various organizations, such as private, publicly listed, and non-profit organisations, both in Australia and around the world.
It is important to note that Captive Insurance should not be considered a complete solution to risk management. Businesses must have the resources available to set up an insurance company to provide cover for potential losses.
Additionally, Captive Insurance has a high barrier to entry, and it is generally recommended for companies with exemplary loss histories (and continued lower loss expectations) that have a premium size of at least $1 million.
Is Captive Insurance right for your Adelaide business?
Crucial Insurance recommends Captive Insurance for companies with exemplary loss histories (and continued lower loss expectations) that have a premium size of at least $1 million as this type of cover has a high barrier to entry. Your captive may also be expected to engage with various experienced professionals, such as insurance brokers (like us), attorneys, administrators, accountants and tax advisors.
We recommend that before pursuing a Captive Insurance approach for your Adelaide business, you should consult with an experienced Crucial insurance broker who can advise whether this cover is suitable for your business. As an Australian Financial Services Licence holder since 2014, Crucial Insurance brokers are guaranteed to provide you with a high level of skill and an exceptional quality of service.
Captive Insurance: Adelaide Snapshot
The cosmopolitan capital of South Australia, Adelaide is renowned for its rich art and culture scene, and unique historical background. Established in 1836, the sprawling city was the only capital planned for free British settlers, though is now home to an array of cultures and faiths. It is also host to Australia’s largest display of Indigenous artefacts at the South Australia museum, with a collection of more than 38 000 artworks.
In 2020, the city's Gross Regional Product (GRP) was estimated to be around $40 billion AUD, which represents a growth rate of 1.7% from the previous year. The largest contributors to Adelaide's economy during this time were the health care and social assistance sectors, accounting for around 12% of the city's GRP, and followed by manufacturing, which accounted for around 10%. Other important industries in Adelaide include education and training, professional and technical services, and construction.
Why businesses clients choose Crucial Insurance and Risk Advisors
Crucial Insurance brokers are specialists you can trust. With a strong reputation in the industry and multiple awards recognising our dedication and efficiency, you can rely on us to find the best cover for your Adelaide business.
Our proven approach to business insurance brokerage has helped business owners and senior executives develop clear and effective insurance and risk management strategies. Elevate your Adelaide business and speak to an experienced Crucial Insurance broker today.
CAPTIVE INSURANCE ADELAIDE
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