Historic rising insurance costs and more stringent policy terms are causing businesses to consider alternative insurance programs. Captive and self-insurance programs have been commonplace with large firms; however, due to rising insurance prices as a result of billions of claims dollars spent on pandemic, hurricane, wildfire, social unrest and rising legal verdicts, small to mid-size firms are now looking to realize the financial benefits of the captive insurance company model. In fact, 2020 saw a 200 percent year-on-year growth of captives and the trend is expected to grow even higher in 2021.

This week on Everything Co-op, Alex Smith highlights the Community Purchasing Alliance

Webinar: Creating supportive co-op ecosystems for justice-involved people

Join NCBA CLUSA and Farm Credit System Captive Insurance Company President Brian Clanton on Wednesday, June 30 from 2-3 pm EDT to discover the many benefits of the captive insurance model, including the potential cost savings of a captive insurance program for your members, and how sophisticated programs can be leveraged to meet business objectives. You’ll also learn how to determine if a captive model is right for the members of your cooperative.

Register now