Captive Insurance Company Formation & Management Services
BCA offers the entire range of captive insurance company formation and management services as well as alternative risk management solutions. BCA provides access to the complete range of captive management and administrative services.
More specifically, our captive specialists provide expertise in all aspects of captive management including:
- program design
- reinsurance and fronting placement
- accounting
- risk management
- claims management
- regulatory reporting
- general consultation.
Also, BCA can serve as liaison with applicable regulatory authorities and identify appropriate service providers for legal, actuarial, auditing and claims administration.
We are constantly innovating and improving our risk financing service provision and offering our clients the widest and most fitting range of solutions. We work with corporations, employers, insurers, associations, and brokers in evaluating proposed captive structures across all lines of business and assisting with the application process, licensing and formation.
Captive Insurance Company
A captive insurance company is formed primarily to cover the assets and risks of its parent company or companies. Captive insurance is essentially an “in-house” insurance company with a limited purpose and is not available to the general public. It is an alternative form of risk management that is becoming a practical and popular means through which companies can protect themselves financially while having more control over how they are insured.
The Value Proposition
Companies both large and small are having an increasingly difficult time finding and affording traditional insurance policies to cover their risks and assets. Premiums are increasing at a steady clip, making insurance coverage nearly cost prohibitive for most companies, leaving them vulnerable to catastrophic loss.
Captive insurance companies can achieve:
- lower insurance costs
- direct access to reinsurance
- flexibility in plan design (“tailored coverage”)
- pricing stability
- greater control over claims
- accumulation of investment income
The BCA Difference
- Advantage to Large Government Contractors The most efficient and competitive method to meet government required subcontracting goals by retaining BCA as your benefits administrator on all or part of your organization’s group insurance plans without changing carriers
- All insurance premiums and associated fees will be counted towards prime contactor (Large) goals as Small, SDB, 8(a) subcontracting credit on the mandatory forms 294 and 295 filled every 6 and 12 months to the contractor officer and SBA commercial market representative.
- BCA implements tailored benefits plans with cost tracking and administration for government contractors’ hourly employees subject to the Service Contract Act (SCA).
1025 Connecticut Ave, NW,
Suite 611
Washington, DC 20036
Toll Free: (866) 973-7350
T (202) 828.9420
F (202) 828.9423; eFax (202) 747-5704