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Joining a Captive, as an alternative to a traditional insurance program, has given us ownership and control of insurance costs and services making us a better, safer, more competitive company.

Phil Shager, CFO
Economy Paving, Inc.

   
 

 

Formation:   2001
Domicile:   Cayman Islands
Shareholders:   10
Capitalization:   $30,000 Share Investment
Coverage Included:   Statutory – Workers Compensation
$1M/$1M/$1M – Employers Liability
$1M/$2M/$2M per Project – General Liability
$1M CSL – Auto Liability & Physical Damage
Captive Retention:   $500,000 or $350,000 per Occurrence
Including Basket/Clash and ALAE
Internal Structure:   $0-$125,000 A Fund
$125,001-$350,000/$500,000 B Fund
Renewal Date:   January 1
2011 Est'd Exposure:   $97,000,000 Insured Payroll
1,475 Insured Power Units
Key Ratios:   34.9% Fixed Cost
28% Incurred Loss Ratio
40% Developed Loss Ratio
Risk Sharing:   5 Underwriting Years
5 Different Members/Only One Member Twice



Premium Written   $46.2M
Investment Income Earned   $1.5M
Losses Paid  
$10.9M
Current Case Reserves   $2.1M
Policy Holder Distributions   $7.2M
Current IBNR Reserves   $5.5M
Frequency (A Fund) Assessments   $122K
Provisional Assessments   $587K
Deficit Relocation (Risk Sharing)   $963K
Provisional Deficit Reallocation   $750K
 

 

   
    Fronting & Reinsurance: Arch Insurance Co.
Claims Administration: Gallagher Bassett
Onshore Program Administration: Willis
Offshore Captive Management: SRS - Cayman
Onshore Legal: Kerr, Russell & Weber
Actuarial: Milliman
Audit and Captive Tax: KPMG
 

 

     
       
    For information on Construction Solutions Group Captive, contact the Captive Manager