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We believe that risk is important.
At Risk Matters, our sole mission is to help organizations navigate the world of captive insurance to better define, finance, and manage the risks inherent in their businesses. Our team works closely with other professional partners to deliver a broad spectrum of alternative risk solutions. These specialized programs often play a crucial role in sustaining the long-term success of our clients.
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Latest news
- Tennessee Report 2017 Julie Mix McPeak is the commissioner of Tennessee Department of Commerce and Insurance. Commissioner Julie Mix…
- Beazley Projects “Ransomware” Attacks to Quadruple in 2016 NEW YORK, NY --(Marketwired - October 26, 2016) - Beazley, a leading provider of data breach response insurance, today…
- Risk Matters Published in "The Construction User" Fall Edition The Benefits of Uniting to Form a Medical Stop Loss Captive Imagine for a moment that there are 10 trustees…
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What we do
Enterprise risks are constantly changing, especially emerging risks caused by technological, political and regulatory unpredictability. On an annual basis we facilitate a risk identification process, quantify risks that are not covered by traditional insurance programs and formalize an alternative risk financing strategy based upon our analysis. The process engages members of your executive management team to provide their unique perspectives regarding actual scenarios that could cause significant operational and financial disruption. By focusing on areas with high potential impact and likelihood of occurrence, we can better secure the financial future of your business.
- 1Needs AnalysisRisk Matters evaluates your exposures, coverage needs, cash flow requirements and current program to ascertain the potential applicability of a captive solution.
- 2ConsultationWe advise you on the viability of various alternative risk programs, as well as any structuring, financing, management, and regulatory requirements they would entail.
- 3Program DesignWe custom design a program that ensures you have the most cost-effective coverage for your specific needs. If a captive is your best option, we also refer you to the most advantageous onshore or offshore domicile.
- 4Coordination of Service ProvidersWe recommend and act as a liaison to service providers, drawing from a roster of highly qualified auditors, bankers, and other professionals throughout the world.
- 5ImplementationWe offer a wide range of implementation services for alternative risk programs. Captive or risk retention group implementation services include drafting of bylaws, legal incorporation, writing of policies, selection of an experienced administrator and election for directors and officers.
How we do it
We have purposely staged our captive formation process to allow for education, exploration, and an eventual election to move forward. You can progressively learn more about your unique business situation and whether or not a captive solution might be right for you without investing significant time or financial resources. In the event we jointly decide that a captive suits your needs, we will professionally address your alternative risk matters.
The Captive Process (9 weeks)
Viability Review
In the Viability Review, the RM team analyzes your current risk management practices and insurance policies to assess the potential for a captive management program. We will provide a financial forecast and list of identified risks to be addressed through a captive initiative.
R3TM is a proprietary software tool developed to analyze captive insurance feasibility for middle market companies. Typical alternative risk financing analysis was lacking process discipline and the best way to address that was by leveraging technology. R3TM incorporates best practices from the risk management profession and focuses on four key deliverables:
- Identification and data visualization of strategic, financial, human capital and operational risks
- Quantification via the underwriting platform of potential financial impact from identified risks
- Prioritization of these risks into potential coverage categories with corresponding captive premium estimates
- Risk profile summary and cost / benefit analysis of forming a captive insurance company
Following this process, clients and their advisors have found that the executive level discussion of enterprise risks is a valuable exercise in and of itself, allowing them to better understand the risk appetite of their organizations and to raise awareness of the multitude of risks consciously (and sometimes unconsciously) assumed. After R3TM, business leaders can more strategically decide which risks to assume, mitigate, prevent and finance in the most efficient way possible.
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For more information or to subscribe to R3™ please contact us.
Feasibility Study
During the Feasibility Study, we lead a detailed Risk Identification project and then utilize a nationally recognized actuarial firm to establish market appropriate premiums. The relationship manager and professional support team is introduced and a project timeline is developed.
Formation
In the Formation process, we assist with preparation of the business plan, license applications and other required documentation to obtain certificate of authority. We coordinate all compliance
with government regulations and filings in the jurisdiction of formation and ensure all criteria required of an insurance company is met.
The Risk Matters Difference
Our role is to provide you with an honest alternative risk assessment. If that means facilitating a group captive, a single parent captive or no captive at all, we will always share the “why” behind the “what” in a way that can easily be understood.
The Risk Matters Difference
News & Insights
News reflects the results of risk, both well-documented and emerging. Our goal is to help our clients avoid being in the headlines and to have a constructive plan for what happens if they are.
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November 2016
- 11/16/16 Tennessee Report 2017 Julie Mix McPeak is the commissioner of Tennessee Department of Commerce and Insurance. Commissioner Julie Mix McPeak is the first woman to serve as chief insurance regulator in more than one state. In February 2016, McPeak was…
- 10/27/16 Beazley Projects “Ransomware” Attacks to Quadruple in 2016 NEW YORK, NY --(Marketwired - October 26, 2016) - Beazley, a leading provider of data breach response insurance, today released its Beazley Breach Insights - October 2016 findings…
- 10/24/16 Risk Matters Published in "The Construction User" Fall Edition The Benefits of Uniting to Form a Medical Stop Loss Captive Imagine for a moment that there are 10 trustees sitting around a table. Each of these trustees is responsible for…
- 06/28/16 "Brexit" Leaps to Top of Enterprise Risk Management Concerns 6/27/2016 Photo by Shutterstock.com Risk managers must help their organizations assess the effect of Britain's vote to leave the European Union on their…
- 06/13/16 Low cost, abundant reinsurance allows insurers buying arbitrage: S&P By ARTEMIS, June 10, 2016 The low-cost and abundance of reinsurance capital, both from traditional and alternative or third-party sources, is enabling some insurers to play the…
- 06/13/16 Cyber attacks on small businesses cost U.K. $7.74 bn in 2014-15 ITPro, Jane McCallion, June 10, 2016 Small businesses need help to combat millions of attacks faced every year UK SMBs suffer a cyber attack seven million times a year,…
- 04/05/16 FBI Warns of Growing Losses from Business Email Scams The Federal Bureau of Investigation issued a warning Monday about a dramatic rise in the “business email compromise” scam, where cyber criminals spoof company and…
- 02/27/16 Ransomware Attacks Emerge from the Shadows Photo by REUTERS More “ransomware” attacks can be expected along the lines of the incident reported last week, when a Los Angeles hospital agreed to pay the equivalent of $17,000 in bitcoins to regain control of its computer…
- 05/14/15 Insurer Not Liable for Cyber Policyholder’s Defense By Judy Greenwald - Business Insurance In one of the first coverage rulings involving a cyber insurance policy, a federal court has ruled that a Travelers Cos. Inc. unit is not…
- 03/09/15 Risk Matters, LLC Develops RiskRe™ TOLEDO, Ohio, March, 9, 2015 - Risk Matters, LLC a Midwest based captive consultancy has developed and launched its proprietary software called RiskRe™ that is being used to analyze captive insurance viability for middle market…
- 03/09/15 Captive Insurers Help Fill Niche Needs ORLANDO, Florida — Captive insurers can offer companies more options when it comes to building an insurance program, from allowing greater control over coverages to addressing an issue neglected by the marketplace, a panel of industry…
- 02/16/15 Coca-Cola Finds Captive Insurer Most Efficient Way to Fund Benefits Photo by Bloomberg A Coke logo sculpture is suspended outside the World of Coke in Atlanta, Georgia. BOCA RATON, Fla. — For The Coca-Cola Co., the advantage of funding…
- 02/09/15 Captive Insurers Can Hold Down Group Health Costs BOCA RATON, Fla. — Employers looking to hold down group health care plan increases should consider turning to their captive insurers, a consultant says. Compared to purchasing coverage in the traditional market, funding group health…
- 02/03/15 Choosing Between Captives and Large Deductible Policies There are pros and cons to each option when considering a large deductible policy or a captive insurance company for your organization. Deciding which is better will…
- 12/23/14 Supply Chain Risk: Manufacturing Is Vulnerable to Blockbusting Hits By Chris Byrne - Manufacturing supply chains are the action stars of the business world. Everything depends on them, and they’re always ending up in tight spots. A…
- 12/18/14 Dallas Company to Pay $499,000 for Sexual Harassment, Retaliation Firings A six-person jury for the U.S. District Court, Northern District of Texas, has awarded three former employees of a Dallas-based physician services provider nearly $500,000 in a…
- 12/18/14 No more TRIA in the new year No more TRIA in the new year New York | 18 December 2014 RIMS has expressed its concern for Congress’ inability to extend the Terrorism Risk Insurance Act (TRIA) before its deadline on 31 December 2014. RIMS president…
- 10/28/14 Captives May Help with Emerging Risks in Healthcare ANAHEIM, Calif. — Captives can be a useful tool to help insure and manage emerging threats in the health care industry, such as cyber risks and the Ebola virus, a panel of…
- 10/28/14 Insurers Fight to Bar Cyber Coverage under Commercial General Liability Policies Travelers latest to seek ruling denying liability Recent legal efforts by insurers to bar cyber coverage under commercial general liability policies signal a new coverage battle…
- 10/13/14 Potential Captive Coverage: Cyber Liability Travelers sues P.F. Chang's to avoid paying breach costs under general liability policy A Travelers Cos. unit has filed suit against restaurant chain P.F. Chang's China Bistro Inc. seeking a judicial declaration that it is not…
- 10/03/14 JPMorgan hack exposed data of 83 million, among biggest breaches in history (Reuters) — Names, addresses, phone numbers and email addresses of the holders of about 83 million households and small business accounts were exposed when computer systems at…
- 09/16/14 Huge European captive potential in employee benefits – McGloin Writing employee benefits insurance through captives could be the key to kick starting another growth period within the European market, according to Chris McGloin, immediate past…
- 08/05/14 Potential Captive Coverage - Administrative Actions The U.S. Equal Employment Opportunity Commission has filed suit against a Pennsylvania construction equipment supplier, charging that it violated the Americans with Disabilities…
- 07/31/14 Potential Captive Coverage - Domestic Violence Spillover to Workplaces The estranged husband of a female employee of the Texas Health and Human Services Commission was arrested recently in the lobby of his ex-wife's workplace after one of the…
- 07/28/14 Wealth Planners Would do Well to Consider Captives Where family wealth is derived from an active business, captive insurance can provide significant opportunities to retain and transfer that wealth to other members of the business owner’s family, said a recent article. Katharina…
- 07/07/14 Potential Captive Coverage - Litigation Expense Pursuing complex liability claims requires careful documentation First analyze policy and evaluate potential recovery vs. cost of litigation Though litigation is never preferable, it often is a commercial insurance policyholder's only…
- 07/02/14 US introduces new FATCA portal US introduces new FATCA portal Washington DC | 02 July 2014 A new online portal to help simplify the form exchange between US insurance brokers and foreign insurers is now open and available for worldwide use. The Council of…
- 06/18/14 Ohio Governor Signs Captive Insurer Bill Ohio Gov. John Kasich has signed into law a measure allowing the formation of captive insurers and special purpose financial captive insurers in the state. H.B. 117, signed into law Tuesday, requires captives to have a minimum of…
- 06/13/14 Captives Can Cover Exclusions: Insurer Lands Win in Skateboard Trademark Dispute A Great American Insurance Group Inc. unit was not obligated to defend a skateboard company in a trademark infringement lawsuit under a prior publication exclusion in its policy,…
- 06/10/14 Tech: Most companies plan to have cyber coverage within 12 months: Survey A total of 77% of midsize to large companies intend to have some kind of cyber insurance coverage in place within the next 12 months, while 42% of risk managers in the U.S. plan…
- 06/08/14 Captive growth will be driven by risk financing needs and sophistication SOUTHAMPTON, Bermuda — Growth in the captive insurance market and new uses for captive insurers will be driven more by the risk financing needs and risk management…
- 06/03/14 U.S. Supreme Court rulings may make life harder for patent trolls (Reuters) — The U.S. Supreme Court on Monday overturned two lower court patent decisions, one related to heart rate monitors and the other to management of Web images, in…
- 06/02/14 Environmental Risk - Corporate Concern Mounts About Water Supplies LONDON — As droughts and floods become more frequent and extreme around the world, companies from food and beverage makers to the mining and energy industries are beginning to…
- 05/30/14 Environmental groups target energy firm directors on climate change A trio of environmental groups on Wednesday said directors and officers of fossil fuel companies could face personal liability for opposing policies to fight climate change. In…
- 05/28/14 Maine health care captive insurer offers primary coverage to employer group The nation's first group health insurance captive, formed as a result of special enabling legislation in Maine, is flourishing while controlling health care costs for its 50…
- 05/25/14 Train employees and plan for emergencies to reduce overseas travel risks CHICAGO — Training employees who travel internationally on business, tracking them when they do so, and having plans in place for responding to emergencies that might occur are…
- 05/21/14 Captive retiree health funding approach is insurance: IRS Benefit experts are welcoming an IRS revenue ruling making clear that a retiree health care benefits funding approach utilizing an employer's captive insurance company is…
- 05/19/14 Number of retailers citing data breaches as risk factor up to 91%: Survey The percentage of retailers who are concerned about data breaches has almost doubled since 2009, with 91% of retailers now citing it as a risk factor, says a survey whose findings…
- 05/15/14 The top 7 perceived risks that worry U.S. businesses Managing risk is what running a business is all about. Striking the perfect balance between taking smart risks and controlling those that present the biggest threats is the…
- 05/14/14 Mid-market companies managing risk more like big firms: Analysis Mid-market companies' risk mitigation strategies are beginning to equal — and in a few cases, outclass — strategies used by their larger counterparts, according to an analysis…
- 05/14/14 Ponemon Institute finds that cost of data breaches is rising May 6, 2014 - Judy Greenwald The average total cost of a data breach has increased 15% in the last year to $3.5 million, according to a global analysis issued by the Traverse…
- 05/12/14 EEOC brings fourth disability discrimination suit against AutoZone May 9, 2014 Auto parts retailer AutoZone Inc. was accused Friday of violating federal law for allegedly implementing a nationwide attendance policy that failed to accommodate…
- 05/12/14 Ford recalls over 750,000 vehicles for software, door-handle faults (Reuters) — Ford Motor Co. is recalling more than 750,000 vehicles — most of them Escape sport utility vehicles — in North America to address possible software and…
- 05/11/14 Regulatory Risk - How government is killing American entrepreneurship It's time to embrace startup capitalism and abandon crony capitalism By James Pethokoukis | May 9, 2014 The problem goes far beyond the Great Recession. (Justin…
- 05/07/14 Guernsey enjoys captive growth Guernsey enjoys captive growth Guernsey | 07 May 2014 The Guernsey Financial Services Commission (GFSC) licensed 99 new international insurers in the 12 months to the end of March. This includes 8 limited companies, 5 Protected…
- 05/07/14 BP captive gets A- from A.M. Best BP captive gets A- from A.M. Best Vermont | 07 May 2014 A.M. Best has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of Saturn Insurance of Burlington, Vermont. Saturn is a captive of…
- 05/06/14 Corporate insurance dept. often out of banks’ cyber security loop: Report Corporate insurance departments are underrepresented in financial institutions’ cyber security governance structures, says a report issued by the New York Department of…
- 05/06/14 Japanese captives still lagging Japanese captives still lagging Hong Kong | 06 May 2014 Japanese-owned captive insurers remain a small fraction of the total number of captives globally, primarily due to the close relationship between the country’s insurance…
- 04/30/14 Marsh charts captive evolution Marsh charts captive evolution New York | 30 April 2014 Marsh’s annual captive benchmarking report has found that only one-third of US captive owners treat their captives as insurance companies for US federal income tax…
About Risk Matters
We believe that risk is important and so do our clients. With these challenges in mind, we help them navigate the world of captive insurance to better define, finance, and manage the risks inherent in their business.
Our team works closely with their professional partners to deliver a broad spectrum of appropriate alternative risk solutions. These programs can play a crucial role in an organization’s long-term success.
Contact us
811 Madison Avenue
Toledo, OH 43604
Tel: 419.531.5531
info@riskmattersllc.com
811 Madison Avenue
Toledo, OH 43604
Tel: 419.531.5531
info@riskmattersllc.com