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    Captive Insurance in Plain English
    Captive Insurance in Plain English
    Captive Insurance in Plain English
    Ebook39 pages33 minutes

    Captive Insurance in Plain English

    By F. Hale Stewart JD. LL.M.

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    About this ebook

    This is written to be the readers first book on captive insurance. It avoids legal and industry jargon, instead using straightforward language to quickly and efficiently explain how captives started and how a business can use a captive insurer to supplement its existing risk management program.
    LanguageEnglish
    PublisheriUniverse
    Release dateDec 5, 2017
    ISBN9781532035722
    Captive Insurance in Plain English
    Author

    F. Hale Stewart JD. LL.M.

    F. Hale Stewart, JD. LL.M., is a nationally recognized expert in captive insurance. He is co-author of U.S. Captive Insurance Law, 2nd Edition, the leading text in the field. He helps entrepreneurs form and manage captives for their respective businesses and currently lives in Houston, Texas, with his wife and two pit bulls.

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      Book preview

      Captive Insurance in Plain English - F. Hale Stewart JD. LL.M.

      Copyright © 2017 Hale Stewart.

      All rights reserved. No part of this book may be used or reproduced by any means, graphic, electronic, or mechanical, including photocopying, recording, taping or by any information storage retrieval system without the written permission of the author except in the case of brief quotations embodied in critical articles and reviews.

      iUniverse

      1663 Liberty Drive

      Bloomington, IN 47403

      www.iuniverse.com

      1-800-Authors (1-800-288-4677)

      Because of the dynamic nature of the Internet, any web addresses or links contained in this book may have changed since publication and may no longer be valid. The views expressed in this work are solely those of the author and do not necessarily reflect the views of the publisher, and the publisher hereby disclaims any responsibility for them.

      Any people depicted in stock imagery provided by Thinkstock are models, and such images are being used for illustrative purposes only.

      Certain stock imagery © Thinkstock.

      ISBN: 978-1-5320-3571-5 (sc)

      ISBN: 978-1-5320-3572-2 (e)

      Library of Congress Control Number: 2017916089

      iUniverse rev. date: 11/15/2017

      CONTENTS

      Introduction

      Chapter 1 A History Lesson or Why Did Companies Start Doing This?

      Chapter 2 The Five Factors of Insurance

      Chapter 3 What Kind of Insurance Coverage Does a Captive Insurance Company Provide?

      Chapter 4 Welcome to the Insurance Business!

      Conclusion

      INTRODUCTION

      My first book on captives is US Captive Insurance Law. It is meant for professionals in the captive insurance industry. It’s not for the layperson who wants a basic understanding of what captive insurance is and how it works.

      That’s where Captive Insurance in Plain English comes in. It’s deliberately brief; you should be able to read it in one or two sittings. Most importantly, it contains the information you need to make a decision about whether or not you should form a captive insurer for your business.

      Before we begin, let me provide a few working definitions and some general background. A captive insurance company – or captive -- is an insurance subsidiary. For example, Acme Manufacturing is a corporation that makes widgets. Acme Manufacturing forms Acme Assurance which sells various types of insurance to Acme Manufacturing. Here’s a picture of the transaction:

      Image%201.jpg

      I first encountered captive insurance in graduate school when I read the UPS case for a course on offshore financial centers. This decision – that UPS

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