A property solution custom-built for your business's needs
Facing expensive or inadequate property insurance? GPW and Associates, Inc and Origin Specialty Underwriters Agency, LLC have teamed up to help.Using GPW’s captive management expertise and the capabilities of our licensed affiliate, Origin, we are proud to offer you a property solution that could be a great fit. Here’s how:
We can help you realize major potential cost savings.
We collaborate with you to provide a custom solution tailored to your needs and risk appetite.
Our solution is fronted by carriers rated “A-” or better (by AM Best) to help you comply with most lenders' requirements.
To get in touch, fill out the form below or have your broker/agent directly schedule some time with our SVP.
(Leave the final question blank if you are the broker or agent.)
How are potential cost savings achieved?
When adopting our property solution, here’s how you can benefit from potential cost savings:
You take deductible risk in your captive company, which may lower your premium.
In profitable years, you can benefit from retaining the premium you pay to the captive.
You lower your dependence on third-party insurance over time.
Will there be a lot of work on my end?
Your valuable time should be spent on your business and your customers — not your property insurance solution. GPW prioritizes efficiency and convenience every step of the way, from the formation of the captive to its ongoing management:
The solution can be implemented in as little as four weeks.
All captive management and policy administration needs are handled by the GPW and Origin teams, respectively.
How does the captive solution work?
GPW can help form and manage a captive insurance company for your business, which can be utilized to insure property and other risks. This solution allows you to reap the benefits of insuring their own risks, such as flexibility and potential cost savings.
A step-by-step guide
GPW collaborates with you and your team to identify risks.
We set up your captive insurance company.
Our team facilitates an insurance policy from carrier rated “A-” or better by AM Best.
Your captive takes the risk through reinsurance.
Potential outcomes:
If there is no loss: Your premium is recognized as income to your captive.
If there is a loss: Your captive pays the loss.
Is this program right for me?
If you meet the following criteria, our property solution could be a great fit:
You have significant property exposures
You are willing to take risk in your captive for a portion of the exposure
Your captive has excess capital, or the owner has willingness to add capital
You have the ability to capitalize the captive with $1MM (cash or LOC)
You are willing to pay $250,000+ in premium to your captive annually
If you don't meet all the criteria but are interested, contact us anyway — we are happy to work with you and your providers to explore a solution.
Other frequently asked questions
Who will I be working with?
GPW and Associates, Inc (GPW) will handle all your captive management needs, whereas Origin Specialty Underwriters, LLC (Origin) will manage all tasks pertaining to policy administration.
Do I have to do paperwork?
GPW will take care of all the paperwork, taxes, filings, and requirements to create and manage your captive insurance company.
Does Origin become my insurance agent?
We respect your relationship with your existing agent — our goal is to support and enhance their services. We can work alongside them to provide our solution.
Do I make underwriting decisions?
Based on your risk appetite and business needs, Origin will provide a recommendation on what's suitable for your captive insurance company. Since you own the captive, you have the final say on which risks to include.
Will my policies stay the same year after year?
It is the goal of the captive insurance company to make a profit. This profit can be rolled over to take additional risks in subsequent years. As such, it is not uncommon for captive policies to take more and more risk as profits accumulate, lessening the dependence on outside insurance.
What else can I put in my captive?
Captives are a great solution for risks not well managed in the traditional insurance market, including: cyber risk, deductible buy back, and commercial policy exclusions, among others.
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