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A captive insurance company is, in a nutshell, an insurance company formed by a business owner to insure the risks of the operating business. The operating business pays premiums to the captive, and the captive insures the risks of the operating business. A captive is much more than an exotic form of self-insurance: It is the creation of a new insurance company that has the potential to grow from being a mere captive into a full-blown insurance company seeking to profit from underwriting the risks of others. Adkisson's Captive Insurance Companies provides a basic introduction to captives and their benefits, including: utilize your own experience ratings; recapture underwriting profits; underwrite exposed risks and deductibles; access the reinsurance markets; and transfer wealth between generations. This book also provides a unique look at the wealth transfer, accumulation and preservation advantages of captives, as well as an overview of the types of captives, taxation of captives, and captive domiciles.
A captive insurer is generally defined as an insurance company that is wholly owned and controlled by its insureds; its primary purpose is to insure the risks of its owners, and its insureds benefit from the captive insurer's underwriting profits. Captives are another method by which loss risk is financed. They are not inherently mysterious, or illegal, or a silver bullet for all situations. The author, a trusted insurance industry expert and president of Risk Management Advisors provides readers with a step-by-step guide to understanding captives and how they are being used to significantly improve companies' bottom lines.
Insurance is a sophisticated financial vehicle that can be best understood through the lens of risk management. Experiencing dramatic growth, captive insurance is owned and controlled by its insureds, pooling the risks of its owners. Captive insurance provides businesses with unmatched flexibility regarding coverage, claims, premium, and control, while also offering advantages such as lucrative dividends and innovative financing techniques. This state-of-the-art guide traces the development of small captive insurance and addresses how to set up and properly manage a captive. Modern Captive Insurance: A Legal Guide to Formation, Operation, and Exit Strategies, begins with an overview of what captive insurance is and detail the advantages in setting up a captive for a range of different business situations. Chapters explain how to incorporate and start up a new captive insurance program, including basic terminology and the roles different professionals play in running captive programs. Captive insurance is an intricate yet effective risk management strategy. For guidance in properly establishing a captive, the authors address critical issues evaluated by the IRS, such as risk shifting and distribution, and explore ethical considerations arising out of off-shore captive management, such as how to identify money laundering red flags and how to properly manage the investments of reserves. Modern Captive Insurance takes an in-depth look at the topics and issues that are common in insurance and in businesses, but are often handled differently for captives, such as: Financial statements, investments, and financial ratings Policy drafting and coverage Risk pools and structuring the pooling arrangement to be valid Federal, state and local taxation Tax-exempt organizations Risk retention groups (RRP) Reinsurance, and more Table of Contents Chapter 1: Captive Company Formation Chapter 2: Captives and Capitalists Chapter 3: Risk Pools Chapter 4: Financial Statements, Investments, and Financial Ratings Chapter 5: Policy Drafting and Coverage Chapter 6: Underwriting and Claims Reserving Chapter 7: Federal Income Tax and Captives Chapter 8: State and Local Captive Insurance Issues Chapter 9: Tax-Exempt Organizations and Captive Insurance Chapter 10: Risk Retention Groups and How They Work Chapter 11: Reinsurance Chapter 12: Workers' Compensation and the Grand Bargain Chapter 13: Employee Benefits Conclusion Table of Cases and Index
The evolution of a rapidly growing mode of offshoring, captive centers: basic models, strategies, and case studies of Fortune Global 250 firms. In today's globalized economy, firms often consider offshoring when confronted by rising costs and fierce competition. One mode of offshoring has continued to grow despite the current global economic turmoil: the captive center. Captive centers are offshore subsidiaries or branch offices that provide the parent company with services, usually in the form of back-office activities. In Offshoring Strategies, Ilan Oshri examines the evolution of the captive center. He identifies basic captive center models, examines the captive center strategies pursued by Fortune Global 250 firms, describes current captive center trends, and offers detailed individual case studies that illustrate each model. His analysis highlights the strategic paths available to firms that want to maximize the returns offered by captive centers. Oshri outlines six models for captive centers that range from the basic wholly owned branch office to hybrids and joint ventures and identifies evolutionary paths along which the basic model develops. He analyzes firms' strategies during initial set-up, then tracks the changes as strategies evolve to meet different business needs. The case studies, all based on the Fortune Global 250, include the development of a basic captive unit into a complex hybrid structure; the evolution a captive center into a shared service center offering services to other international firms; the divestment of a captive center to a private equity firm; and the migration of a captive center to a location where costs were lower.
This sweeping, richly evocative study examines the origins and legacies of a flourishing captive exchange economy within and among native American and Euramerican communities throughout the Southwest Borderlands from the Spanish colonial era to the end of the nineteenth century. Indigenous and colonial traditions of capture, servitude, and kinship met and meshed in the borderlands, forming a "slave system" in which victims symbolized social wealth, performed services for their masters, and produced material goods under the threat of violence. Slave and livestock raiding and trading among Apaches, Comanches, Kiowas, Navajos, Utes, and Spaniards provided labor resources, redistributed wealth, and fostered kin connections that integrated disparate and antagonistic groups even as these practices renewed cycles of violence and warfare. Always attentive to the corrosive effects of the "slave trade" on Indian and colonial societies, the book also explores slavery's centrality in intercultural trade, alliances, and "communities of interest" among groups often antagonistic to Spanish, Mexican, and American modernizing strategies. The extension of the moral and military campaigns of the American Civil War to the Southwest in a regional "war against slavery" brought differing forms of social stability but cost local communities much of their economic vitality and cultural flexibility.
Without the labor of the captives and slaves, the Ottoman empire could not have attained and maintained its strength in early modern times. With Anatolia as the geographic focus, Leslie Peirce searches for the voices of the unfree, drawing on archives, histories written at the time, and legal texts. Unfree persons comprised two general populations: slaves and captives. Mostly household workers, slaves lived in a variety of circumstances, from squalor to luxury. Their duties varied with the status of their owner. Slave status might not last a lifetime, as Islamic law and Ottoman practice endorsed freeing one’s slave. Captives were typically seized in raids, generally to disappear, their fates unknown. Victims rarely returned home, despite efforts of their families and neighbors to recover them. The reader learns what it was about the Ottoman environment of the sixteenth and seventeenth centuries that offered some captives the opportunity to improve the conditions of their bondage. The book describes imperial efforts to fight against the menace of captive-taking despite the widespread corruption among the state’s own officials, who had their own interest in captive labor. From the fortunes of captives and slaves the book moves to their representation in legend, historical literature, and law, where, fortunately, both captors and their prey are present.
Ten years ago, the United States stood at the forefront of the Internet revolution. With some of the fastest speeds and lowest prices in the world for high-speed Internet access, the nation was poised to be the global leader in the new knowledge-based economy. Today that global competitive advantage has all but vanished because of a series of government decisions and resulting monopolies that have allowed dozens of countries, including Japan and South Korea, to pass us in both speed and price of broadband. This steady slide backward not only deprives consumers of vital services needed in a competitive employment and business market—it also threatens the economic future of the nation. This important book by leading telecommunications policy expert Susan Crawford explores why Americans are now paying much more but getting much less when it comes to high-speed Internet access. Using the 2011 merger between Comcast and NBC Universal as a lens, Crawford examines how we have created the biggest monopoly since the breakup of Standard Oil a century ago. In the clearest terms, this book explores how telecommunications monopolies have affected the daily lives of consumers and America's global economic standing.
MANAGE YOUR RISK IN A MORE EFFICIENT WAY What if you could insure the risks of your business, reduce your out of-pocket expenses, and create another source of revenue? Sounds too good to be true, right? With The Business Owner's Definitive Guide to Captive Insurance Companies, Mr. Strauss shows that, by utilizing a captive insurance company, this is not only possible but also a lot easier than you'd imagine. As one of America's top corporate, tax, and risk management attorneys, Mr. Strauss provides readers with true insight on the key sophisticated planning techniques used by small business owners who implement captive insurance companies. You'll learn the fundamentals and history of captive insurance and how this technique can provide numerous benefits to your business. This book will provide you with the insight on how to: -reduce out-of-pocket expenses; -increase cash flow; -insure more of the risks of your business; -protect personal and business assets from lawsuits; and -select the appropriate manager for your captive insurance company. Creating a captive insurance company may sound daunting, but with Mr. Strauss's guidance you can navigate the legal maze and utilize this valuable strategy with ease. Don't miss out on crucial out-of-pocket savings, and create more liquidity in a more tax-efficient manner. Take steps today and reap the benefits of captive insurance!
Zoos, aquaria, and wildlife parks are vital centers of animal conservation and management. For nearly fifteen years, these institutions have relied on Wild Mammals in Captivity as the essential reference for their work. Now the book reemerges in a completely updated second edition. Wild Mammals in Captivity presents the most current thinking and practice in the care and management of wild mammals in zoos and other institutions. In one comprehensive volume, the editors have gathered the most current information from studies of animal behavior; advances in captive breeding; research in physiology, genetics, and nutrition; and new thinking in animal management and welfare. In this edition, more than three-quarters of the text is new, and information from more than seventy-five contributors is thoroughly updated. The standard text for all courses in zoo biology, Wild Mammals in Captivity will, in its new incarnation, continue to be used by zoo managers, animal caretakers, researchers, and anyone with an interest in how to manage animals in captive conditions.