Why Establish a Captive Insurance Company?
A captive insurance company is a subsidiary or program you establish for your business to insure against the risk of loss, such as property and casualty, general and product liability, workers’ compensation, automobile liability and medical malpractice. A captive can bypass the commercial insurance market, enabling you to purchase insurance directly from reinsurance companies at significant cost savings. Locations such as Barbados, Bermuda, the Cayman Islands, Arizona, Delaware, Hawaii, Michigan, Nevada, South Carolina, Texas, Tennessee, Vermont and Washington, D.C. provide the favorable legislation and established infrastructure necessary to support the captive insurance industry.
Comerica is one of the few financial institutions in the United States with a dedicated captive insurance group that offers a complete solution for your captive’s financial needs. Backed by over $60 billion in total assets, Comerica is one of the largest, most highly rated, NAIC-approved financial institutions. We also have over $100 billion in assets under trust custody.
Our ability to provide customized solutions, including letters of credit, trust custody and investment management is recognized throughout the captive industry. Contact us for a custom consultation today.