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TURN PREMIUMS
INTO PROFITS
IN PARTNERSHIP WITH
IF YOU’RE PAYING
BIG PREMIUMS
AND MAKING
ONLY A FEW
SMALL CLAIMS
You’re a high-performing mid-market
business owner
You’re investing for the long-term
You’re building your success around
a strong set of values and a long-term
mindset.
And your business is of a size where
you’re paying insurance premiums of at
least $250K.
You’re good, not just lucky
You’re committed to controlling risk
in your business.
You have a 5-year historic loss ratio of
less than 40%, and you can demonstrate
that your approach to risk management
is planned and hands-on.
YOU HATE
BUYING
INSURANCE
Because it’s not a fair deal
Either your insurer is making huge profits.
Or they’re using your premiums to pay
someone else’s claims.
And your premiums keep increasing
year-on-year.
It’s just not right.
You deserve more control
The world’s largest and most profitable
companies have been opting out of the
traditional insurance market for decades.
By getting a captive – a private insurance
company you own – you’ll be able to
retain your own risk and reap the reward
in the same way they do.
You’ve never had the same opportunity.
Now you do.
GET
SM
THE RISK AND
REWARD PLAN
Start taking risk and earning
reward in 3 simple steps
RE–PAID is the insurance product that
successful mid-market business owners
are using to turn their annual insurance
premiums into substantial profits.
— Take risk
— Take control
— Reap the reward
YOU PAY YOUR
INSURANCE
PREMIUMS
FOR YOUR
USUAL
COVERAGE
You buy A-rated insurance coverage
We issue you a policy on behalf of
our A-rated insurer partners. You can
choose the lines of businesses
you want.
Lines of business Policy limits
Commercial property $5M
General liability Up to $5M
Workers’ compensation Statutory
Commercial auto $1M
Any limits you need above these will
be placed in the insurance market by
your broker.
You keep it business as usual
Your broker will gather all the information
needed to quote your insurance.
You’ll pay your premiums and get
A-rated policies, with coverage, limits,
and deductibles, just as you do now.
WE TRANSFER
SOME OF
YOUR RISK
FOR $100KS OF
YOUR PREMIUMS
You take a limited amount of risk
You take a limited amount of your
own risk. And you can also take a share
of all the other risks we insure.
But you only take risk for
a limited period
All responsibility to pay claims ceases
5 years after the end of the underwriting
year in which your coverage starts.
This way, there is no liability for
unforeseen future claims, and the
profits are completely free and clear.
Your claims are paid
You pay claims up to an agreed limit.
Our A-rated insurer partners pay
any losses above and beyond those
amounts, up to the limits of your
insurance policies.
And you can take back $100Ks
of your insurance premiums
There’s no limitation on this amount.
If your premiums are large, and so is the
risk transferred, it could be $1Ms.
TAKE RISK
TAKE CONTROL
THE PROFITS
ARE YOURS
You influence your own claims
With RE–PAID, claims are like every
other part of your business – yours to
influence. Although we handle your
claims with our insurer partners,
third-party administrators, and lawyers,
you have a voice on how your claims are
handled, defended, and settled.
And the more you control your losses,
the less you will pay out in claims.
You keep the profits
If the premiums we set aside for you
are less than your claims, this creates
underwriting profits.
Following the end of each underwriting
year, profits are calculated at 18 months,
3 and 5 years.
Year after year, what can be $100Ks
or $1Ms of profits, are yours to keep.
You take risk
Taking commercial property and
casualty insurance risk gives you the
opportunity to make substantial profits.
You can do this using a captive –
a private insurance company you
own – set up and managed for you by
MIJS Captive Management.
It also means you can make a loss,
so you have to put up some collateral.
This is provided as either cash or as
a letter of credit.
As you accumulate profits over time, you
can use these as collateral instead.
REAP
THE
REWARD
Back yourself
If you’re going to continue making big
profits for your insurer, you’re effectively
putting a big pile of money in the corner of
the room and setting fire to it.
With RE–PAID, you can back yourself –
take risk, take control, and reap the reward.
GET
SM
One simple integrated solution
Everything is built in and priced,
avoiding complexity.
You get a quotation laying out all the
numbers, so you can clearly understand
how your risk and reward stacks up.
MIJS Captive Management
Moore Ingram Johnson & Steele LLP
(MIJS) began its captive practice in
2008 to provide businesses with an
alternative to the standard captive
management model. Given the various
legal complexities that go into a
properly operating captive insurance
company, MIJS believed it was important
to provide a captive management
team that consists of attorneys and
insurance professionals with expertise in
insurance defense/coverage, regulatory
compliance, accounting, corporate, and
tax. That way MIJS could provide the
captive industry with a lawyer based
management option which would
provide the same attention to detail,
responsiveness, and confidentiality one
should expect from a law firm.
MIJS clients and the captive industry
alike have recognized MIJS for its
exemplary captive management services
with MIJS having been awarded the
Independent Captive Manager of the
Year award by Captive Review in 2014
and 2015 as well as being recognized by
Highly Commended Captive Manager of
Enterprise Risk Captives in by Captive
Review in 2017.
MIJS captive expertise includes forming
and managing:
— large pure captives
— group captives
— self insured programs
— industrial insured captive
— enterprise risk/small captives.
In the interests of protecting our clients
from undue scrutiny, MIJS forms and
manages its client’s captive insurance
companies exclusively with U.S.
domiciles with strict regulatory oversight
that require adequate capital, adhere
to regular reporting requirements, and
comply with rules and regulations of the
Internal Revenue Service.
Captive management services that
MIJS provides include:
— conducting a feasibility study at no
charge (see “Feasibility Study and
Captive Formation”)
— risk underwriting and policy design
— all insurance and corporate regulatory
compliance
— facilitating necessary reinsurance
— claims intake and resolution
— facilitate the production of quarterly and
year end GAAP financials
— facilitating production of audited
financials, tax returns, and actuarial
pricing and opinions.
— should captive be audited by state or
IRS, MIJS handles all audit work at no
additional charge.
The industry has recognized MIJS for
its unique captive management model.
As a result, MIJS has been awarded
the Independent Captive Manager
of the Year award by Captive Review
in 2014 and 2015 and was recently
recognized by Captive Review as a
Highly Commended Captive Manager of
Enterprise Risk Captives in 2017.
WE
GET IT
We understand you, the problem
you face, and how you can solve it
RE–PAID has achieved market recognition
as a finalist for the past five consecutive years.
Innovative ART structure/new risk placement
2019 Captive Review US Captive Awards
MGA initiative of the year
2019 Insurance Day London Market Awards
Insurance solution of the year
2020 Captive Review US Captive Awards
Insurance underwriting team of the year
2020 Business Insurance US Insurance Awards
Reinsurance firm of the year
2021 Captive International US Awards
Program launch of the year
2022 The Insurer Program Manager Awards
Underwriting solution of the year
2023 Captive Review US Awards
GET IN TOUCH
In partnership with I–RE
i-re.insure
Insurance underwriters
Santee Risk Managers LLC doing business as
I–RE Miami at 100 SE Second St, Unit 3800, Miami,
FL 33131, United States is an MGU (otherwise
known as a managing general underwriter), program
manager, excess and surplus lines wholesale
insurance broker and a coverholder at Lloyd’s.
Each client is underwritten individually, and
premiums vary depending on the nature of the
risk, claims experience, limits, and claims history.
Underwriting risk in a re/insurance company
involves exposure to the risk of loss as well as
the opportunity for underwriting profit.
No representation or warranty, express or implied,
is made by I–RE Miami, or any of its subsidiaries
or affiliates.
Nothing contained herein shall be construed as, or
constitute, legal, tax, investment or coverage advice.
Clients have the right to, and should seek, the
advice of tax, legal, or coverage counsel at their
own expense.
Copyright I–RE
February 2024
All rights reserved
MIJS
mijs.com
Captive management
To find out more, please visit mijs.re-paid.com
or get in touch.
Matthew J. Howard
Principal
mjhoward@mijs.com
Tim Andrew CPA, ACI
Captive Manager
tandrew@mijs.com
IN PARTNERSHIP WITH

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Turn premiums into profit - MIJS 5726_04.pdf

  • 1. TURN PREMIUMS INTO PROFITS IN PARTNERSHIP WITH
  • 2. IF YOU’RE PAYING BIG PREMIUMS AND MAKING ONLY A FEW SMALL CLAIMS You’re a high-performing mid-market business owner You’re investing for the long-term You’re building your success around a strong set of values and a long-term mindset. And your business is of a size where you’re paying insurance premiums of at least $250K. You’re good, not just lucky You’re committed to controlling risk in your business. You have a 5-year historic loss ratio of less than 40%, and you can demonstrate that your approach to risk management is planned and hands-on.
  • 3. YOU HATE BUYING INSURANCE Because it’s not a fair deal Either your insurer is making huge profits. Or they’re using your premiums to pay someone else’s claims. And your premiums keep increasing year-on-year. It’s just not right. You deserve more control The world’s largest and most profitable companies have been opting out of the traditional insurance market for decades. By getting a captive – a private insurance company you own – you’ll be able to retain your own risk and reap the reward in the same way they do. You’ve never had the same opportunity. Now you do.
  • 4. GET SM THE RISK AND REWARD PLAN Start taking risk and earning reward in 3 simple steps RE–PAID is the insurance product that successful mid-market business owners are using to turn their annual insurance premiums into substantial profits. — Take risk — Take control — Reap the reward
  • 5. YOU PAY YOUR INSURANCE PREMIUMS FOR YOUR USUAL COVERAGE You buy A-rated insurance coverage We issue you a policy on behalf of our A-rated insurer partners. You can choose the lines of businesses you want. Lines of business Policy limits Commercial property $5M General liability Up to $5M Workers’ compensation Statutory Commercial auto $1M Any limits you need above these will be placed in the insurance market by your broker. You keep it business as usual Your broker will gather all the information needed to quote your insurance. You’ll pay your premiums and get A-rated policies, with coverage, limits, and deductibles, just as you do now.
  • 6. WE TRANSFER SOME OF YOUR RISK FOR $100KS OF YOUR PREMIUMS You take a limited amount of risk You take a limited amount of your own risk. And you can also take a share of all the other risks we insure. But you only take risk for a limited period All responsibility to pay claims ceases 5 years after the end of the underwriting year in which your coverage starts. This way, there is no liability for unforeseen future claims, and the profits are completely free and clear. Your claims are paid You pay claims up to an agreed limit. Our A-rated insurer partners pay any losses above and beyond those amounts, up to the limits of your insurance policies. And you can take back $100Ks of your insurance premiums There’s no limitation on this amount. If your premiums are large, and so is the risk transferred, it could be $1Ms.
  • 7. TAKE RISK TAKE CONTROL THE PROFITS ARE YOURS You influence your own claims With RE–PAID, claims are like every other part of your business – yours to influence. Although we handle your claims with our insurer partners, third-party administrators, and lawyers, you have a voice on how your claims are handled, defended, and settled. And the more you control your losses, the less you will pay out in claims. You keep the profits If the premiums we set aside for you are less than your claims, this creates underwriting profits. Following the end of each underwriting year, profits are calculated at 18 months, 3 and 5 years. Year after year, what can be $100Ks or $1Ms of profits, are yours to keep. You take risk Taking commercial property and casualty insurance risk gives you the opportunity to make substantial profits. You can do this using a captive – a private insurance company you own – set up and managed for you by MIJS Captive Management. It also means you can make a loss, so you have to put up some collateral. This is provided as either cash or as a letter of credit. As you accumulate profits over time, you can use these as collateral instead.
  • 8. REAP THE REWARD Back yourself If you’re going to continue making big profits for your insurer, you’re effectively putting a big pile of money in the corner of the room and setting fire to it. With RE–PAID, you can back yourself – take risk, take control, and reap the reward.
  • 9. GET SM One simple integrated solution Everything is built in and priced, avoiding complexity. You get a quotation laying out all the numbers, so you can clearly understand how your risk and reward stacks up.
  • 10. MIJS Captive Management Moore Ingram Johnson & Steele LLP (MIJS) began its captive practice in 2008 to provide businesses with an alternative to the standard captive management model. Given the various legal complexities that go into a properly operating captive insurance company, MIJS believed it was important to provide a captive management team that consists of attorneys and insurance professionals with expertise in insurance defense/coverage, regulatory compliance, accounting, corporate, and tax. That way MIJS could provide the captive industry with a lawyer based management option which would provide the same attention to detail, responsiveness, and confidentiality one should expect from a law firm. MIJS clients and the captive industry alike have recognized MIJS for its exemplary captive management services with MIJS having been awarded the Independent Captive Manager of the Year award by Captive Review in 2014 and 2015 as well as being recognized by Highly Commended Captive Manager of Enterprise Risk Captives in by Captive Review in 2017. MIJS captive expertise includes forming and managing: — large pure captives — group captives — self insured programs — industrial insured captive — enterprise risk/small captives. In the interests of protecting our clients from undue scrutiny, MIJS forms and manages its client’s captive insurance companies exclusively with U.S. domiciles with strict regulatory oversight that require adequate capital, adhere to regular reporting requirements, and comply with rules and regulations of the Internal Revenue Service. Captive management services that MIJS provides include: — conducting a feasibility study at no charge (see “Feasibility Study and Captive Formation”) — risk underwriting and policy design — all insurance and corporate regulatory compliance — facilitating necessary reinsurance — claims intake and resolution — facilitate the production of quarterly and year end GAAP financials — facilitating production of audited financials, tax returns, and actuarial pricing and opinions. — should captive be audited by state or IRS, MIJS handles all audit work at no additional charge. The industry has recognized MIJS for its unique captive management model. As a result, MIJS has been awarded the Independent Captive Manager of the Year award by Captive Review in 2014 and 2015 and was recently recognized by Captive Review as a Highly Commended Captive Manager of Enterprise Risk Captives in 2017.
  • 11. WE GET IT We understand you, the problem you face, and how you can solve it RE–PAID has achieved market recognition as a finalist for the past five consecutive years. Innovative ART structure/new risk placement 2019 Captive Review US Captive Awards MGA initiative of the year 2019 Insurance Day London Market Awards Insurance solution of the year 2020 Captive Review US Captive Awards Insurance underwriting team of the year 2020 Business Insurance US Insurance Awards Reinsurance firm of the year 2021 Captive International US Awards Program launch of the year 2022 The Insurer Program Manager Awards Underwriting solution of the year 2023 Captive Review US Awards
  • 12. GET IN TOUCH In partnership with I–RE i-re.insure Insurance underwriters Santee Risk Managers LLC doing business as I–RE Miami at 100 SE Second St, Unit 3800, Miami, FL 33131, United States is an MGU (otherwise known as a managing general underwriter), program manager, excess and surplus lines wholesale insurance broker and a coverholder at Lloyd’s. Each client is underwritten individually, and premiums vary depending on the nature of the risk, claims experience, limits, and claims history. Underwriting risk in a re/insurance company involves exposure to the risk of loss as well as the opportunity for underwriting profit. No representation or warranty, express or implied, is made by I–RE Miami, or any of its subsidiaries or affiliates. Nothing contained herein shall be construed as, or constitute, legal, tax, investment or coverage advice. Clients have the right to, and should seek, the advice of tax, legal, or coverage counsel at their own expense. Copyright I–RE February 2024 All rights reserved MIJS mijs.com Captive management To find out more, please visit mijs.re-paid.com or get in touch. Matthew J. Howard Principal mjhoward@mijs.com Tim Andrew CPA, ACI Captive Manager tandrew@mijs.com