by Jay D Adkisson
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Product Description
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.
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Average Customer Review:
2 of 2 people found the following review helpful:
 Excellent book for overview of captives, 2009-04-23
This is an excellent book from the perspective of clients and advisors who are planning to form a captive insurance company to understand how it fits into their overall structure. This is a book for attorneys, accountants, and financial planners -- as well as prospective captive clients -- who have not heretofore been introduced to the topic of captive insurance. This book gives a wonderful explanation of what a captive is, what is required for the captive application, how a captive operates, the basic IRS rules and regulations, and how a captive fits into the overall corporate or family organizational chart.
This book makes no pretense of being for insurance brokers and agents who are looking for insight into the minutae of the commercial insurance business, such as where to look for quotes on workers compensation fronting, finding reinsurance, how retention agreements should be drafted, etc. But since most insurance brokers and agents dislike captives because they cut into their commissions, they will probably not be recommending captives to their clients anyway. One of the biggest benefits of a captive is to eliminate the costs of the broker's or agent's commissions and put those to work for the captive owner, so the hostility of brokers and agents to the concept of a captive and their spreading of patently false misinformation about captives should not be surprising.
5 of 8 people found the following review helpful:
 Boilerplate, 2008-11-07
Book is 80 pages of boilerplate information that is available on net plus 200 pages of regulatory and tax code also available on net. Not worth it!
6 of 7 people found the following review helpful:
An excellent starting point, 2007-03-09
Jay Adkisson's book on captive insurance companies is a good starting point for anyone who wants an overview of an often overlooked or misunderstood subject. The book is a little heavy on statutes and some case law, but otherwise gives an excellent introduction to the benefits and risks of establishing and maintaining these structures.
6 of 9 people found the following review helpful:
Very Helpful, 2007-01-22
I'm in the process of determining whether a captive makes sense for my company. Mr. Adkisson's guide is very imformative. He is a little weak in his pure insurance knowledge but the concepts are more creative and thorough than others I have researched.
7 of 8 people found the following review helpful:
Great Intro to Captives, 2006-12-18
As an advisor, I've had clients repeatedly ask me about captive insurance companies but I didn't know much more about them and simply referred them to people like Jay who dealt with them. They always seemed like a "black box" planning technique where the secrets of how they worked were hidden from the unitiated. With this book, Jay opens that box and gives a great explanation of what captive insurance companies are, how they work, what it takes to get them licensed, how they are taxed, what policies they can issue, where they can be formed, and a bunch of other stuff that helps advisors like me understand the basic concept. I think this would be a great book to give as a gift to clients who were interested in captives as it explains their benefits -- and limitations -- quite clearly.
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