A soft market should not force a choice between the captive and commercial insurance.
It should allow the corporate to construct a better combination of both.
Returning capacity can be used to protect the captive against severity, aggregation and connected risk while preserving control over predictable losses, claims data and programme design.
The strategic value of a captive is not just that it always retains risk, it is that the company no longer has only one route to capital.
Henri Winand examines what this means for boards, CFOs, risk managers, insurers and brokers in this edition of The Business of Resilience.
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