September 2021 Edition
In light of the two recent hurricanes that hit the US and as Summer comes to an end and we move into Fall, now is the time to start taking a closer look at your risk management objectives. At U.S. Captive Partners & Associates, our clients are already well positioned in their coverage for 2022.  Our proprietary turn-key system ensures our clients never miss a beat when it comes to their protection.  

If you have not met with us yet or know someone who can benefit from a captive, here are some questions to think about before 2022 gets here:

1. If you have not started thinking about your risk management objectives, you have to begin today.

2. What are everyone's schedules between now and the end of the year? If the decision maker or their advisor is not available, it can slow or even stop the process altogether.

3. Make sure EVERYONE, especially the decision maker, is made aware and understands the steps necessary for implementing the captive.

4. Once our team gets involved, our turn-key system involves processes which need to be addressed at certain stages. It is critical to respond quickly so we can meet the year-end deadlines.

And as always, if you have any questions about implementing a Captive, call me directly or visit our Captive 101 section online by Clicking Here.

Sincerely,
Larry Papola
Lawrence J. Papola, Jr.
Principal
1-833-US-CAPTIVE
(1-833-872-2784)
Captive Insurance Companies
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In its simplest form, a captive is a wholly owned subsidiary created to
provide insurance to its non-insurance parent company (or companies). Captives are essentially a form of self-insurance whereby the insurer is owned wholly by the
insured. They are typically established to meet the unique risk-management needs of the owners or members. Additionally, they provide potentially significant tax advantages, which can prove integral to longevity and company profitability.
Captives are formed to cover a wide range of risks; practically every risk underwritten by a commercial insurer can be provided by a captive..
Captive Claim Highlight
Client Profile
Industry: Health Services
Specialty: Cardiac Device Monitoring & Management
Location: Maryland
Claim Information
Description: One of our Insureds became aware of a data breach which prevented them from accessing and monitoring some patient data stored within their system. The Insured hired legal representation, crisis communication expertise and a forensic IT service in order to investigate and resolve the incident. With their Captive's Actual Net Loss Insurance Policy "Breach/Release of Data related to Hacking and/or Virus Exposure" coverage they were able to recover their expenses associated with the event.
Line of Coverage: Breach/Release of Data related to Hacking and/or Virus Exposure
This exposure was elected for coverage by the client under their Captive Policy. This resulted in a claim payment amount of approximately $35,000.
*Please note that each claim will undergo an independent investigation and thorough review process. Various components specific to the claim at hand will be assessed thoroughly to determine if the loss is covered by the policy.
Happening This Month in 2021
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9/5: Int’l Day of Charity
9/6: Labor Day
9/8: Int’l Literacy Day
9/10: Suicide Prevention Day
9/11: Patriot Day
9/12: Grandparents Day
9/17: Constitution/Citizenship Day
9/19: Talk Like a Pirate Day
9/21: Int’l Day of Peace
9/22: Fall Begins
9/26: Nat’l Pancake Day
9/27: Nat’l Chocolate Milk Day
9/29: Nat’l Coffee Day
This Month is Observed as:

  • Nat'l Preparedness Month
  • Childhood Cancer Awareness Month
  • National Suicide Prevention Awareness Month
  • National School Success Month
Get Your Insurance Quotes From The:
Insurance Experts provides expert knowledge and assistance to individuals, families, and business owners who are making decisions about the proper insurance coverage for their needs. We’re here to help you cover losses you shouldn’t have to on your own.

Let our team of experts guide you through the daunting task of selecting the right insurance coverage for you or your business:
  • Life
  • Disability
  • Long-Term Care
  • Business
  • Personal
  • Captive
  • More...
48 South Service Road
Suite 400
Melville, NY 11747

Office: 1-833-US-CAPTIVE
     (1-833-872-2784)
Fax: 888-929-6565