The podcast discusses captive insurance, including who it is for, how to evaluate a good plan, and setting premiums. It explores the benefits and importance of captive insurance for business owners, particularly in managing risks like supply chain, brand protection, and cyber threats. The requirements for being a trusted advisor in a brokerage account are also discussed, along with investment options and diversification within an S&P 500 index fund. The podcast concludes by exploring captive insurance as a tool for risk management and tax strategies.
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insights INSIGHT
Understanding Captive Insurance
Captive insurance is self-insuring risk that traditional carriers won't cover, mostly used by large companies.
It allows businesses to handle risks like product liability internally through a captive insurance company.
insights INSIGHT
831(b) Plans Benefit Small Businesses
An 831(b) plan is a captive insurance plan offering tax deferral on premiums up to a cap.
This plan encourages small to middle-market businesses to self-insure and grow funds tax-deferred.
insights INSIGHT
Captives Cover Gaps in Insurance
Business risks like exclusions on policies and fame-damaging lawsuits aren't fully covered by traditional insurance.
Captive insurance helps address such gaps and protects business reputation and employee-related mistakes.
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Today we are talking with Van Carlson of SRA 831(b) Admin all about captive insurance. We talk about who captive insurance is for, how to evaluate a good plan, how much capital a captive should have, and how to set premiums. We discuss how this can be a great risk management strategies with some tax benefits as well as how to avoid a bogus risk pool. There is a lot of great information here on a topic we were excited to learn more about.
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