Risk Retention Services

Policy Administration
We, on behalf of your captive, will issue you insurance policies for the coverage provided by your captive. These policies will meet all regulatory obligations imposed on you. It will also set forth the terms and conditions required for someone to make a claim against you just as any insurance policy would. Policy Administration also includes notifying your lien holders and contract providers that your coverage is in effect.


Claims Administration
Most captive owners have chosen the captive structure to gain more control over their claims process including not only the adjudication of claims but also the integration of financial analysis into their monthly financial reports. Venture Captive Management, LLC—in conjunction with our claims partners—provides a seamless claims administration process where you control the decisions as to how, when and to whom payments are made. You see the results on a monthly basis to control the effectiveness of the process.


Risk Management/Loss Control
Venture Captive Management, LLC works with your operations experts to prevent claims before they occur and to control losses if and when they do occur. Our experienced business partners provide you with the level of expertise your company needs to supplement the programs you already have in place or to create new ones that suit your needs. This is a key management tool for controlling the costs of the operations and to meet regulatory compliance.


Underwriting/Risk Selection
The underwriters at Venture Captive Management, LLC are experience in a broad range of exposures. We work with your operations personnel to help you develop the kind of risk profile that suits your industry. Our actuaries will give you guidance in developing the premium-to-risk indicators that will make your risk funding structure not only solvent but also profitable.


Accounting
Venture Captive Management, LLC (VCM) has a team of accounting experts who are responsible for the financial operations of risk retention groups (RRG’s). These specialized insurance providers are organized under the Federal Risk Retention Act of 1986 and require the same accounting practices that any domestic insurer must meet. Our professionals prepare financial pro formas; open and maintain bank accounts; manage initial capitalization; invoice and collect premiums; and manage the payment of expenses.

Since RRG’s require the same accounting and reporting practices as other U.S. domiciled insurance companies, our qualified accountants report all financial matters as required by the NAIC. This statutory accounting practice is known as a “liquidating” accounting practice. It presents the information in a format so that if the company were liquidated at the time of the report, all information would be clearly stated. These prescribed forms must be filed quarterly with an extensive annual report.

Our team also prepared the more familiar GAAP statements on a regular basis so that investors/owners can read the statement in a familiar format.

VCM’s accounting team also acts as liaison with third party auditors and tax preparers to provide accurate, timely information for reporting purposes.


Financial/Regulatory Compliance
Governed under Federal Law first developed in 1981 and amended in 1986, a Risk Retention Group allows a group of similar or related businesses to create an insurance company that would insure that group. The RRG company would be domiciled in one state and be governed by that state and federal law and can engage in business in any other state without additional licensing, subject to some restrictions. Insureds are owners of the company and since these insureds are in like businesses, they understand what needs to be done. VCM has hired and partnered with the experts in the industry to keep your Risk Retention Group compliant in meeting the following requirements:

• Federal and State filings
• NAIC filings
• Disclosure and documentation
• Proper Capital to Surplus
• And other industry specific requirements

Other Back Office Functions
If you’re looking for a “turn key” alternative risk funding structure, you’ll want a management company that fits together in a complete package all the pieces of the risk puzzle. Venture Captive Management, LLC puts all the back office functions together to provide coverage for your risks; to meet regulatory compliance and to provide you control over the process.