Navigating the complexities of self-insured risk
Forming and operating a captive insurance company requires an in-depth understanding of risk financing, risk management, and the captive insurance industry, in general, including the laws and regulations of the selected domicile.
While captive insurance began primarily with large corporations, a recent shift has occurred where it is now being utilized by middle market entities, and sometimes smaller entities. BPS has a long history of serving the alternative risk market and has become a leading service provider in the captive insurance industry. Led by Chris Stormer and Bryan Hudson on the audit side and Jay Swearingen and Ben Glenn on the tax side, BPS has a dedicated team of professionals that work exclusively in the captive insurance industry. Our team possesses the expertise to help you explore how a captive insurance structure may help with your risk financing and/or risk management needs. Our services range from providing feasibility and formation assistance, to more traditional financial statement assurance and income tax preparation services.
Our firm, from its Columbia, South Carolina headquarters, serves captive insurance companies domiciled throughout the United States. Our clientele includes entities with annual premiums ranging from $100,000 to over $30 million and spanning various industries including healthcare, manufacturing, trucking and transportation, construction, and real-estate. We also serve many multinational Fortune 500 companies that manage and finance their risks, both domestic and international, using one or more on-shore captive insurance companies.
Our captive insurance team routinely provides clientele with the following services:
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