Captive Creation and Management
C L. Frates and Company formed the Wellington Insurance Company for Humana Corporation. It has formed and managed Physicians Casualty Insurance Company, a medical malpractice insurance company; Physicians Liability Insurance Company (PLICO) – also a medical malpractice insurance company; Hospital Casualty Company – a captive insurance company for hospitals.
Corporate Captives
C. L. Frates and Company also formed corporate captives for many corporate customers and has consulted with corporate giants like Anheuser Busch on the development of their corporate captive. C. L. Frates and Company Captive Creation and Management formed and managed Granite Re Insurance Company and morphed it to a commercial insurer. Frates was asked by six state bankers associations to form BancInsure, a company which insures approximately 26% of all the community banks in the United States. It also became a commercial insurance company with our help.
C. L. Frates and Company has worked with a group of aerospace companies preparing a conceptual design of a highly original warranty company to provide insurance for launches into space, including boosters, buses and payloads.
C. L. Frates and Company is a multi-faceted insurance operation. The Captive Creation and Management Division of Frates is an integral part of the solutions available to our customers. When there is a hiatus in availability of needed coverage or if the market is excessively pricey or where the commercial market is reluctant to insure certain perils or hazards, C. L. Frates and Company has provided the alternative solution.
Our years of experience and our qualified people enable us to bring to our customers:
- The venue most attractive for their particular project, onshore, offshore, which state or country.
- The critical tax considerations inherent in captive design.
- The practical management capabilities that entail rate making, claims settlement and adjudication.
- An actuarial perspective that provides an opportunity for the customer not only to evaluate the practicality of a captive alternative, but the ability to weigh potential savings involved against the cost of creation and management.
We are proud of our distinguished history in captive creation and management. If you have a risk management problem that defies solution in the orthodox insurance markets, we have the answer.
