Single-Parent Captive
Artex manages in excess of 500 single-parent captives with premium sizes ranging from $300,000 to over $100 million.
What is a group captive?
A group captive is an insurance company that captive members own and operate, strictly for the benefit of those members. It enables middle-market employers to increase their underwriting credibility through the benefits of collective purchasing power.
Group captives offer several key benefits, including pricing stability, reduced insurance costs, increased control over claims management and loss control, and the return of underwriting profits and investment income. Leveraging this combined strength helps medium-sized firms strike a balance between risk retention and transfer to reduce those costs and promote long-term rate stability.
Coverages a group captive provides typically include:
- Workers' compensation
- General liability
- Automobile liability (owned and non-owned)
- Automobile physical damage insurance
Large and mid-size employers also have increased use of employee benefit group captives to provide medical stop-loss coverage for healthcare plans.
Benefits of group captives.
Is a group captive the right fit for your organization?
The right candidate will qualify based on the company's premium size, risk exposure, financial stability and senior management's commitment to safety and loss control. Our experienced team at Artex can assist agents and brokers in assessing the viability of a group captive solution for clients.
Artex group captives.
Heterogeneous group captives
- Businesses from different industries form a heterogeneous group captive.
- A variety of different risk profiles across industries provides greater risk diversification and thus lower probability of catastrophic loss for all captive members.
Homogeneous group captives
- Businesses within the same industry or with similar risk profiles form a homogeneous group captive.
- Similar risk profiles and insurance needs allows members to benefit from coverages and risk management programs tailored to their specific industry and goals.
Why choose an Artex group captive?
Heterogeneous group captives.
Milestone, founded in 1995, brought together a diverse group of companies that sought greater control of their insurance destiny. As one of Artex's most longstanding captive programs, Milestone has produced an enviable track record for its owner-members. Several of the original founding members continue to have a very active presence in the program.
- Established: 1995
- Territory: National
- Captive domicile: Bermuda
- Lines of business: Auto liability, general liability, workers' compensation
- Minimum premium: $500,000
Milestone is open to a broad range of classifications. While operations may differ significantly between companies, one constant ties all of these entities together: a strong commitment to controlling risk and minimizing losses.
Millennium was established in 1996. While the program began with a group of companies located in the Midwest, it has since grown to be national in scope. As a heterogeneous program, Millennium brings together a diverse group of companies to share risk.
- Established: 1996
- Territory: National
- Captive domicile: Bermuda
- Lines of business: Auto liability, general liability, workers' compensation
- Minimum premium: $300,000
The program's size, membership diversity and careful approach to risk selection allow Millennium to capitalize on its spread of risk and optimize the distribution potential to its insured owners.
Vision was established in 2002. Its extensive eligibility guidelines have provided a varied membership base and an advantageous spread of risk. Because of its beneficial diversification, Vision has been able to consider some "difficult" industry classifications. Current membership includes automotive dealers, foundry operations, hotels, restaurants and a lumber company.
- Established: 2002
- Territory: National
- Captive domicile: Cayman Islands
- Lines of business: Auto Liability, General Liability, Workers' Compensation
- Minimum premium: $400,000
Vision hosts risk control workshops twice a year as forums where each member can learn about the most progressive ways in which to mitigate risk, manage claims and control losses.
Wisconsin was the first state to enact workers' compensation legislation in 1911. WiN (formerly the Wisconsin Insurance Program) was established in 1996 to provide competitive workers' compensation and multi-line alternative-risk solutions to safety-conscious employers based in Wisconsin. It has since expanded to include members across the Midwest.
- Established: 1996
- Territory: Midwest
- Captive domicile: Bermuda
- Lines of business: Auto liability, general liability, workers' compensation
- Minimum premium: $200,000
WiN has enjoyed manageable growth since its inception and accepts a wide range of industry classifications. A strong emphasis on and adherence to safety and loss control initiatives has allowed WiN to provide consistent material advantages to its member-owners.
Command, founded in 2016, provides a diverse group of companies the opportunity to better control the overall cost of insurance through a captive. These companies, traditionally thought of as too small to take risk by themselves, now reap the rewards of being involved in a group captive and owning and managing their own insurance company.
- Established: 2016
- Territory: National
- Captive domicile: Cayman
- Lines of business: Auto liability, general liability, workers' compensation
- Minimum premium: $150,000
Homogeneous group captives.
NewCon is an insurance program created in 2003 by contractors for contractors. Membership eligibility focuses on trade and artisan contractors who have a strong commitment to workplace safety and loss control.
Target classes include acoustical ceiling, carpentry, drywall, electrical, flooring, furniture and fixture installation, HVAC, land graders, landscaping, masonry, plumbing and painting contractors. Residential contractors are excluded. General contractors that self-perform more than 50% of their work are acceptable.
- Established: 2003
- Territory: National
- Captive domicile: Cayman Islands
- Lines of business: Auto liability, general liability, workers' compensation
- Minimum premium: $400,000
NewCon has a record of superior performance attributable to a proactive membership, a dedicated captive claims team and support from an issuing carrier that's considered the market leader for construction captives. Underwriting eligibility is selective to protect and maintain performance results.
The C-U First insurance program was established to provide workers' compensation to credit unions. C-U First is a national program, with the majority its current membership in California.
- Established: 2004
- Territory: National
- Captive domicile: Washington, D.C.
- Lines of business: Workers' Compensation
- Minimum premium: $100,000
Although C-U First was originally established for credit unions, the membership is open to considering other classes of business having similar risk profiles. Predominant class code is 8810 (CA 8801).
The Specialty Trades Insurance Company (STIC) was formed in 1999 to provide coverage to a select group of contractors having the shared belief that insurance can be a manageable cost. STIC provides risk management and coverage solutions specifically tailored to meet the unique needs of electrical and mechanical contractors exclusively.
- Established: 1999
- Territory: National
- Captive domicile: Vermont
- Lines of business: Auto liability, general liability, workers' compensation
- Minimum premium: $300,000
STIC is open to electrical and mechanical contractors with a strong commitment to controlling risk and minimizing losses. Residential or general contractors aren't permitted. Members are encouraged to attend semi-annual board meetings and to actively participate on a program committee of their choosing.
The principal mission of STIC is to proportionally shift control of the insurance program from insurers and place it in the hands of insured members. Benefits can be expressed in tangible terms, such as insurance cost savings, as well as intangible, such as the creation of a safer work environment.
Harvest was founded in 1991 to bring together companies active in the food industry that seek to assume greater control of their risk programs to achieve long-term stability. Through Harvest, member companies now control their insurance costs and aren't subject to the cyclical volatility of the standard insurance market.
- Established: 1991
- Territory: National
- Captive domicile: Cayman Islands
- Lines of business: Auto liability, general liability, workers' compensation
- Minimum premium: $500,000
Although Harvest is considered a homogeneous program, eligibility is broad and includes most food-related industry classifications: bakeries, dairies, food wholesalers, manufacturers, processors, restaurants and the like. Primary exclusions are meatpacking and slaughterhouse operations. Harvest can also accommodate the fleet exposures of eligible risks. The membership meets regularly to collectively share ideas on ways to enhance the safety element of the work environment.
TRIP
Since its inception in 2000, the TRIP group captive has successfully provided multi-line coverage solutions for some of the more difficult transportation risk classifications.
- Established: 2000
- Territory: National
- Captive domicile: Bermuda
- Lines of business: Auto liability, general liability, workers' compensation
- Minimum premium: $250,000
Auto liability coverage enhancements include auto liability limit up to $2 million and a CA9948 endorsement to remove the auto liability pollution liability exclusion. Accepting good risks within a difficult insurance classification has long been the hallmark of the TRIP program.
SIPP
SIPP Insurance Company Ltd. (SIPP) is a national, homogeneous insurance company that was created to address risks for transportation, trucking for hire, convenience store operators and petroleum marketers. SIPP's objective is to enable participant owners to take control of their insurance program through quality claims and loss control services, retention of underwriting profits and investment income and reduced cost of insurance.
- Established: 2023
- Territory: National
- Captive domicile: Cayman Islands
- Lines of business: Workers' compensation, auto liability, auto physical damage.
- Minimum premium: $250,000
Two leading trade associations specific to trucking and petroleum marketers support SIPP.
The IWLAIC Insurance Program was established in 1996 to write warehousing risks. This group captive is open to firms that derive most of their revenues from warehousing and logistics operations. IWLAIC endorses the program, and companies need to become members of the IWLAIC to be insured through the IWLAIC Insurance Program.
- Established: 1996
- Territory: National
- Captive domicile: Cayman Islands
- Lines of business: Auto liability ($2 million limit), general liability, workers' compensation
- Minimum premium: $250,000
Eligibility is limited to SIC codes 4222 and/or 4225 and WC codes 7228 and/or 7229. At least 60% of revenues must come from warehousing/logistics (including transportation). At least 60% of transportation exposure must be devoted directly to serving customers of the warehousing operation.
The IWLAIC insurance program has experienced tremendous success since its inception. A history of consistently providing policyholder distributions, along with the backing and support of a very strong and active industry association, makes this program attractive for warehouse operators having a firm commitment to maximizing workplace safety.
Construction Risk Containment Insurance Company (CRCIC) was established to provide a captive solution for construction companies that the industry typically views as higher hazards. Best-in-class heavy civil, street and road, artisan, demolition and general contractors will be considered.
- Established: 2019
- Territory: National
- Captive domicile: Cayman Islands
- Lines of business: Auto liability, general liability, workers' compensation
- Minimum premium: $250,000
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