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HSP to Team with USA Risk Group on Captive Management and Related Services
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NEW YORK, NY, and BARRE, VT, June 23, 2016 -
Hanover Stone Partners, a risk management services firm with expertise in a broad range of critical risk disciplines, and
USA Risk Group, the world's leading independent captive management firm, have agreed to collaborate on captive management, governance and related services to help businesses and other commercial entities with the full range of their alternative risk financing activities, including using captives to self-fund U.S. employee benefits.
 "Captive formations and utilization continue to expand as businesses find new uses for captives - especially given the current drive to self-fund employee benefits under the U.S. Affordable Care Act, as well as their ongoing involvement in property-casualty programs to increase retentions, fill gaps in insurance programs, and address complex and emerging risks," said John J. Kelly, managing partner, Hanover Stone Partners. "USA Risk Group gives us a world-class partner, enabling us to address a key strategic objective to help clients widen their use of captives to fund employee benefits along with all aspects of their captive insurance planning, management, program development, and governance."
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"As corporations and other entities around the world continue to place greater emphasis on their captive insurance and alternative risk financing strategies, they need to strengthen their governance of these facilities - especially in light of the dynamic global insurance tax and regulatory environment," said Gary Osborne, president, USA Risk Group. "Hanover Stone Partners brings an unparalleled network of senior insurance professionals, former regulators, actuarial and risk consulting professionals that deepen our capabilities and complement the range of captive and alternative risk services we already offer clients. We're excited to be part of their network and look forward to our work together."
Hanover Stone Partners has nearly 50 senior risk advisors and 30 partner firms, including USA Risk Group, located throughout the U.S. Together with members of the firm's specialty practice, Hanover Stone CaptiveGuardSM, they offer a suite of cost-effective advisory services to help commercial clients with the development and implementation of alternative risk funding strategies, including captive insurance feasibility, domicile evaluation, actuarial and underwriting management, performance reviews, governance, and insurance regulatory compliance.
Established in 1981, USA Risk Group manages captives in 20 domiciles. The firm provides a full range of products and services encompassing every aspect of alternative risk management - from initial consulting, to program structuring and formation, to ongoing administration and regulatory compliance.
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About USA Risk Group
USA Risk Group is the nation's leading independent provider of alternative risk management services with Captive Management operations in Arizona, Barbados, the British Virgin Islands, Grand Cayman, Malta, South Carolina, Tennessee and Vermont, managing companies in 20 domiciles. More information on USA Risk Group is available at www.usarisk.com or on LinkedIn.
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About Hanover Stone Partners
Hanover Stone Partners is the first network of recognized and accomplished risk management advisors and specialized risk management services firms. The firm assembles multi-disciplinary, cross-industry teams that work collaboratively to help clients identify, analyze, manage and finance enterprise risks. This comprehensive approach offers clients the advantage of superior risk management advice and risk management services, delivered more economically. Hanover Stone Partners evaluates existing risk programs, guides enterprise risk management initiatives, implements new strategies, and provides unbundled services that help clients reduce the total cost and volatility of risk, protect earnings, and preserve liquidity for their enterprises.
Visit Hanover Stone Partners at
www.HanoverStonePartners.com or connect with us:
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Hanover Stone Partners, LLC
John J. Kelly, CPCU
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Hanover Stone Partners, LLC
Media Contact: Al Modugno
917-414-4569
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