Risk Management Is Wealth Management
Risk management has always been viewed as a cost. But when business owners implement captive insurance, a paradigm shift occurs: risk management becomes wealth management.
Risk Management Is Big Business
U.S. insurance industry net premiums written totaled $1.32 trillion in 2019, with premiums recorded by property/casualty insurers according to S&P Global Market Intelligence. Health and medical insurance in the U.S. market represents over $1.1 trillion. Risk management is big business, and it should be part of your business.
Traditionally, risk management (insurance) has been viewed by business owners as either a sunk cost or a necessary requirement. Insurance carriers are ultimately the benefactors of these premiums. Even those business owners who recognize and embrace the value and security of covering, insuring, and protecting the most important assets they have — the people they love and the business they have created — still recognize the business of insurance is costly.
What If You Were the Benefactor?
What if you were the benefactor of these premiums? You can and should be today through owning your own captive insurance company. Even though captive insurance first, last, and always is created to provide protection against potential losses, one of the many benefits that typically results is the accumulation of significant wealth.
This accumulation of wealth does not happen overnight. In fact, it begins by recognizing the exposures of your business and the opportunity to insure these exposures with your own insurance company.
The Paradigm Shift
Through a simple review of existing insurance coverages and understanding of your operating company, you may start the journey to a new, efficient surplus of wealth, a new profit center, and an accumulation of your insurance company assets, as your insurance company protects your business and pays claims when losses occur.
As business owners fully understand, create, and then implement their own captive insurance company, a paradigm shift occurs. Risk management becomes wealth management.
Paying premiums to your insurance company, retaining the assets of your profitable insurance company, while protecting your assets and your businesses, makes the business of insurance attractive. More importantly, the business of insurance is available to qualifying business owners today.
Our Turn-Key Process
As a business owner, your expertise is your operating company. You know the history, the blood, sweat, and sacrifices you have made to make your operating company successful. Educating, creating, maintaining, managing, and eventually exiting your captive insurance company is the value ALINK Captive Insurance Services provides to business owners. Our turn-key process and our team serve business owners and their insurance company from beginning to end. Insurance compliance, domicile, regulation, and requirements are extensive. Our team addresses best practices and options for all aspects of captive insurance.
Call 720-213-0583 to turn your risk management into wealth management.