Captive insurance is an increasingly growing market within the Canadian trucking industry. Captive insurance is generally defined as an insurance company that is wholly owned and controlled the trucking companies that are insured. With the standard insurance markets today, many trucking companies worry about getting a renewal, or if that insurance company might want to leave transportation. With a captive solution, you do not have to worry about getting a renewal – you are the insurer! Your always improving safety practices can lead to lower premiums and underwriting profits earned off shore and only taxed when you bring back to Canada.
Qualifications:
- Satisfactory CVOR
- Review historical growth of company
- Financials review passes standards
- Confirmed reputable ELD’s
Expectations of Captive Members:
- Sit on a committee within the captive
- Participate at annual safety meeting in Ontario
- Attend annual meeting off-shore