Insurance can be expensive, and when you need to file a claim, you might find your business at the mercy of your insurance provider. The issues your business might have with insurance could be mitigated by creating a captive insurance company.
What Is Captive Insurance?
Captive insurance is a subsidiary company completely owned by your business and that provides risk mitigation services. In other words, your business creates and owns the company, and that company provides insurance coverage more or less on your terms.