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Being a member of Construction Solutions has removed the volatility of insurance market cycles and given us a stable, predictable insurance program.

Charles L. Cost, CEO, Cost Company LP

   
 

Membership in Construction Solutions optimizes your control of risk and costs. But there are many benefits to taking greater control of your insurance program.

Take control. Construction Solutions gives control back to its members through self-ownership that eliminates the erratic cycles of the insurance marketplace and puts decision-making in the hands of a group with shared objectives.

Reduce and stabilize insurance costs. Unlike traditional insurance programs where the insurer’s premiums are typically priced to deliver profit to the insurance company, Captive insurance premiums are based on a member’s projected losses plus the fixed costs of the program. Traditional insurance often lacks transparency and usually includes markups to cover expenses for commissions, marketing, acquisitions, administration and overhead, and profits.

Increase capacity. Captive members take advantage of group purchasing power for the services included in the program, and can benefit from greater limits of coverage than are available in the retail market.

Retain underwriting profit. If the Captive’s losses are lower than projected, the members retain this profit, which is then returned to each member through distributions. With traditional insurance, loss savings are simply profits to the insurance company.  

Earn investment income. The Captive members retain investment earnings from unused loss funds. With traditional insurance, all investment income is kept by the insurance company.

Improve coverage. The Captive is designed specifically for the members so it offers broader coverage than standard programs.

Streamline renewal. A simplified renewal process takes place well in advance of expiration dates. Renewal terms are more stable from year to year than in the conventional marketplace.

Enhanced safety awareness. Construction Solutions only includes member companies with solid safety records. Joining the Captive provides improved management of risk through effective loss control and increased emphasis on claims handling. Healthy competition and accountability among members creates a culture of constant improvement.

Create business opportunities. Members of Construction Solutions are all “Best in Class,” with strong balance sheets and an uncompromising commitment to safety. As business partners they look for opportunities to assist each other to improve business performance.

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