Jm Niland Services Available To Brokers


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Captive Consulting Services for Agents and Brokers

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Jm Niland Services Available To Brokers

  1. 1. Captive Design and Management Services
  2. 2. JM Niland & Associates • Founded in 2002 to utilize the Alternative Risk Transfer Marketplace for the benefit of mid-market insured • Owned and Operated by Jim Niland – 32 years of commercial insurance brokerage experience – Last 10 years dedicated to captive design and management • Member of a robust network of insurance service providers and professionals • Long track record of successful captive design and management Turning Risk into Reward
  3. 3. Captives • “Wholly owned subsidiaries created to provide insurance to the parent companies” (AICPA Audit & Accounting Guidelines) • A form of alternative risk financing or self-insurance • Allows a company to tailor their insurance products and access the reinsurance marketplace • Can improve claims handling and provide more control over premium fluctuations • Potentially offers tax advantages Turning Risk into Reward
  4. 4. Broker Value Proposition • Businesses with more than $1 million in premiums would probably benefit from establishing a captive and someone will introduce it to them • Once a company forms a captive they rarely return to the commercial insurance market • If you can design a captive for your customer it will take that customer out of the commercial marketplace and improve retention of the customer for the long-term Turning Risk into Reward
  5. 5. JM Niland & Associates Services • Initial feasibility study and design and develop the captive on your behalf • Back-end infrastructure and support to allow you to propose a captive to your client • Assist with management of the captive on an ongoing basis – Tailored services to provide the appropriate support – Fees based only on services required Turning Risk into Reward
  6. 6. JM Niland & Associates Objective To serve as your outsourced customer service representative for all your customers captive needs in a more cost-effective manner than hiring a full- time captive management professional Turning Risk into Reward
  7. 7. Development Process & Timeline One One-Two Two-Three Two-Three Life of the Company Day Months Months Months Initial Mini- Complete Captive Captive Entity Meeting Feasibility Feasibility Entity Formation Study Study Formation • Review of Current • Feasibility Study • Retain Captive Brokers: Risk Transfer Completed by an Management • Manage customer relationship Program Actuary Company • Continue to write non-captive • Coverage • Determine Domicile insurance policies • Determination of • Limits • Secure consistent source of Capital and Annual • Apply for a License • Loss History revenue for the agency Premiums Necessary • Establish Ownership • Availability of Structure JM Niland & Associates: fronting and • Provide back-room • Secure Fronting and reinsurance managements services to Reinsurance ensure a happy customer • Select Claims • Additional services required Go/No Go Decision Go/No Go Decision Admin Company by the broker Turning Risk into Reward
  8. 8. Contact Information • For more information about how JM Niland & Associates can help you grow your insurance brokerage business through captive management contact: James Niland Email: Office: (716) 773-0182 Fax: (716) 773-0183 Cell: (716) 818-4361 Turning Risk into Reward