We are award-winning Sydney Captive Insurance specialists
Captive Insurance is a type of insurance fully owned and controlled by you, the insured, to give you more control over your business’ (or affiliated businesses’) risks and potential losses.
Benefits of Sydney Captive Insurance
This is not an extensive list. Please contact us to see if Captive Insurance is right for your business.
How does Captive Insurance work?
With traditional insurance options, your cover is often at the mercy of your insurer. Your insurer is the one who decides the kind of cover you obtain, the premiums you have to pay, and whether or not you are entitled to your claims.
On the other hand, Captive Insurance allows you to form your own insurance company or ‘captive’, giving you greater control over your insured risks. Captive entities are considered legitimate entities as they are utilised by both Australian and multinational organisations, including private, publicly listed and non-profit organisations.
Is Captive Insurance right for your Sydney business?
Captive Insurance is frequently used in conjunction with conventional insurance options and should not be relied upon as a standalone solution for risk management. It can be an advantageous tool to have in your insurance arsenal, but it comes with a high entry barrier. Generally, it's recommended for companies with a strong loss history (and an expectation of continued low losses) and a premium size of at least $1 million.
To pursue a Captive Insurance strategy, a company must have the resources to establish an insurance company to cover potential losses and collaborate with qualified professionals such as attorneys, accountants, and tax advisers. Protective Cell Companies (PCC) can be a cost-effective way to transfer risk and gain more control over insurance costs and limitations.
Contact us before pursuing a Captive Insurance strategy to fully understand its advantages and disadvantages.
Captive Insurance: Sydney Snapshot
The city of Sydney is known for its stunning coastal views, iconic landmarks such as the Opera House and Harbour Bridge, and its diverse communities and cultural scenes. And further, the New South Wales capital is also often recognised for its contributions to the economy, being the location of choice for many prominent business districts.
The key industry sectors operating within Sydney include financial and professional services, digital and information communication technology, health, research, and education. Specifically concerning Sydney’s financial institutions, industry associations, and insurers, the city call itself home to the headquarters of 60 out of 64 banks in Australia.
As your Sydney insurance broker, Crucial Insurance will assist you in finding the perfect Captive Insurance policy for your business, all while helping you understand everything that comes out of your cover.
Why Sydney clients choose Crucial Insurance and Risk Advisors for Captive Insurance
As lauded Captive Insurance specialists, our efforts have won us multiple awards, including the NIBA Broker of the Year Award, and the Queensland Stephen Ball Memorial Award.
We attribute these successes to the Crucial Insurance mentality—seeing every client’s business as our own and priding ourselves in our proactive approach to customer support.
CAPTIVE INSURANCE SYDNEY
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