There are a wide array of companies throughout the world, but what is imperative for each and every single business to have is some form of commercial insurance. Choosing to go with captive insurance as opposed to traditional commercial insurance is a possible alternative. Selecting a cell insurance company for coverage can be highly beneficial for you and your business.
What Is a Cell Captive?
The key difference with captive insurance is that it gives you more flexibility and far more control over your own insurance. Protected Cell Captive, or PCC, is a type of cell-based insurance that provides a greater level of risk management, smoother allocation of capital, and far less expensive initial set-up and administrative fees when compared with conventional insurance formats.
How Does a PCC Work?
A Protected Cell Captive functions by creating multiple individual cells or accounts, with the liabilities and assets for each cell being uniquely separated from one another by law. Features such as insurance policies with a variety of coverages and the ability to access a marketplace for potential reinsurance are made available in much the same way as with typical commercial insurance.
If traditional insurance is not what you need, a Protected Cell Captive may be a good alternative for you and your small business.