Captive Insurance and Construction: Alternative Risk Structures, Pros and Cons, Key Provisions
Recording of a 90-minute CLE video webinar with Q&A
This CLE webinar will provide an in-depth look at the use of captive insurance in the construction industry where companies are looking for alternative risk structures to increase control and flexibility of their insurance programs. The panel will discuss common uses of captives as well as the potential risks and benefits for construction clients. The panel will also offer best practices for structuring key provisions.
Outline
- Overview of captive insurance
- Types of captives
- Common uses
- How a captive operates
- Who should consider using captives
- Benefits and risks to construction clients
- Comparison to and interaction with "traditional" types of insurance
- Regulatory considerations
- Structuring key provisions
- Practitioner takeaways
Benefits
The panel will review these and other key considerations:
- Why should construction entities consider the use of captives?
- What types of risks can a captive insure?
- How can counsel best incorporate captive programs into a client's overall risk mitigation/management scheme?
- What are some common pitfalls in structuring captive insurance programs?
Faculty
Michael R. Mead, CPCU
Principal
M.R. Mead & Company
Mr. Mead is a well-recognized veteran of the captive profession. He was the former President of the Missouri Captive... | Read More
Mr. Mead is a well-recognized veteran of the captive profession. He was the former President of the Missouri Captive Insurance Association, past Director and Chair of the Captive Insurance Companies Association, past Director and President of the Arizona Captive Insurance Association, past Director of the Captive Insurance Counsel of the District of Columbia, and past Director and VP of the Insurance Center for Captive Insurance Excellence, where he is an instructor. Mr. Mead is a former underwriter with a major global insurer and executive with a major global broker and is Editor of Captive Insurance Company Reports.
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Gregory M. Nowakowski
Partner
Honigman
Mr. Nowakowski advises businesses on risk management strategy, alternative risk financing, regulatory compliance, and... | Read More
Mr. Nowakowski advises businesses on risk management strategy, alternative risk financing, regulatory compliance, and general corporate governance. He assists clients on captive insurance and alternative risk financing matters, feasibility studies, formation, and ongoing representation of captive insurance companies; provides recommendations regarding captive domiciles, ownership structures, insurance policy provisions, funding approaches, and inter-company agreements from a legal and regulatory perspective; counsels captive insurance companies on tax and regulatory issues associated with ongoing operations; assists clients in restructuring of insurance programs, including mergers and acquisitions of captive insurance companies; negotiates insurance business agreements; and reviews, interprets and drafts insurance policies, including analysis and questions of coverage.
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Kenneth A. Sherman
Partner
Prince Lobel Tye
Mr. Sherman is an experienced construction attorney with significant construction transactional, consulting, and... | Read More
Mr. Sherman is an experienced construction attorney with significant construction transactional, consulting, and litigation experience. In this capacity, he assists construction project owners, developers, general contractors, construction management firms, subcontractors, and material suppliers with real-time project consulting, drafting and negotiating all manner of construction agreements and forms, and with prosecuting and defending construction disputes. Mr. Sherman is a frequent lecturer on insurance law matters.
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