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WMS
is a licensed Captive Insurance Manager providing a full menu of
Turnkey Captive
Insurance Management Services to our Captive Insurance clients.
WMS provides one stop
shopping for all our clients Captive Insurance needs! Please
see the list of WMS Captive Insurance Management
Services below:
-
Provide all Underwriting
required by Captive including all Policy Forms, Rates, Premium Calculations,
Rules and Loss Costs
-
Verify Captive Premium
Pricing with Third Party Underwriters and/or Actuaries
-
Provide
all Policy Issuance, Renewal, Cancellation and Administration
in Domicile
-
Perform
all Premium Invoicing, Collection and Deposits
-
Accept all
contracts on behalf of Captive in Domicile
-
Pay all
Loss Claims on behalf of Captive
-
Contract with and
Compensate All Third Party Consultants and Service Providers
-
Arrange all Third Party
Reinsurance required to satisfy the insurance and tax needs of the Captive
Please click on
( WMS Captive Reinsurance Services )
for more detail.
-
Maintain the Captive's
corporate books and records and perform all required corporate house keeping
in domicile
-
Perform all Captive
Accounting including the preparation of periodic Captive Financial
Statements and Cession Reports
-
Document and Monitor
Captive Loan Activity, etc.
-
Prepare and File all
Regulatory Reports including the Captive NAIC Annual Statement
-
Payment of Regulatory Fees
-
Perform Periodic Domicile
Solvency Margin & Capitalization Analysis
-
Perform Periodic Loss
Reserve Analysis
-
Coordinate the Captive's
Annual Audit by an Auditor who is approved by the Insurance Regulators of
the Domicile (Only if Annual Audit is required)
-
Assist CPA Firm in the
Preparation of the Captive's Annual Form 1120-PC Tax Return
-
Perform ongoing Interface
with the Insurance Regulators in Domicile and US Tax Authorities
-
Monitor and Respond to
Legislation and Regulatory Pronouncements
-
Monitor and Implement
Options that Optimize the benefits of the Captive to its Shareholders
-
Captive Shut Down and Wind
Up Activities (If and when required)
WMS Captive Taxation Services - Obtaining an IRS Private Letter Ruling for your
Captive
WMS is
happy to act on Captive Insurance Company's behalf to
obtain a
Private Letter Ruling or
Determination Letter from the IRS which
guarantees in writing the tax treatment it will receive from the IRS. Since the
tax treatment the IRS accords your Captive is critical, we recommend that all
Captive request a
Private Letter Ruling
or
Determination Letter
from the IRS.
Learn more
WMS provides Captive Reinsurance
Pool Access
Reinsurance is a critical part of
any well structured Captive Insurance Program. Without the proper amount and
type of reinsurance, your Captive will not be able to achieve the degree of risk
shifting and risk distribution which are required in order to realize important
insurance and tax benefits. These insurance and tax benefits will play an
essential role in the future success of your Captive. That's why
WMS
incorporates the appropriate amount of reinsurance in every Captive it creates.
We will also assist you in identifying and selecting a reinsurer who will meet
all your reinsurance needs at an affordable low price.
Learn more
We can also assist you in selecting professional
service providers for your captive's ongoing operational needs in any of the following
key areas:
- Accounting Services other than audit and
CPA.
- Accounting Services/
Auditors / CPA
Firms
- Actuaries
- Bankers
- Claims Adjusters and Administrators
- Clerical and administrative personnel services
- Insurance and Reinsurance Brokers and Agents
- Insurance Service Bureaus
- Investment Managers
- Lawyers
- Licensed
Insurance Management Company in the Domicile
- Office Rental Agents
- Reinsurers
- Underwriters, CPCU
At WMS we specialize in
providing our clients with comprehensive underwriting support including policy
forms, rules, rates, loss costs and reserve levels for the following commercial lines of
Property and Casualty Insurance:
|
Commercial Lines and Limits
your Captive can Insure |
|
Type of Coverage |
Limit |
|
Boiler & Machinery Coverage |
$300,000 - $10,000,000 |
|
Business Owners Coverage |
$300,000 - $10,000,000 |
|
Business Interruption and Capital Asset (Output) Policy |
$300,000 - $10,000,000 |
|
Collateral Protection Coverage |
$ 10,000 - $10,000,000 |
|
Commercial Auto Coverage |
$300,000 - $10,000,000 |
|
Commercial Inland Marine Coverage |
$300,000 - $10,000,000 |
|
Commercial Liability Umbrella Coverage |
$300,000 - $10,000,000 |
|
Commercial Property Coverage |
$300,000 - $10,000,000 |
|
Crime and Fidelity Coverage |
$300,000 - $10,000,000 |
|
Employment Related Practices Coverage |
$300,000 - $10,000,000 |
|
Executive Liability Coverage |
$300,000 - $10,000,000 |
|
Financial Guaranty Coverage |
$ 10,000 - $10,000,000 |
|
GAP Coverage |
$ 10,000 - $10,000,000 |
|
General Liability Coverage |
$300,000 - $10,000,000 |
|
Inland Marine Coverage |
$300,000 - $10,000,000 |
|
Market Segments Coverage * |
$300,000 - $10,000,000 |
|
Professional Liability Coverage |
$300,000 - $10,000,000 |
|
Workers Compensation Coverage |
$300,000 - $10,000,000 |
|
|
|
Copyright 2004 Wealth Management Solutions, LLC. |
*WMS
also has industry specific or Market Segment Programs for a large number
of industry classifications. See the partial list of WMS Market Segment
Programs listed below.
|
WMS Market Segment Specialization Programs |
|
|
|
Automobile Dealers (New and Used, Sales and Service) |
|
Automobile Service and Repair |
|
Builders & Contractors ( Commercial and Residential ) |
|
Construction including Contractors ( Commercial and Residential ) |
|
Dry Cleaning and Laundry Services |
|
Exporters and Importers ( All types ) |
|
Florists |
|
Food Production and Service (All types) |
|
Gas Stations |
|
Home Improvement & Hardware Stores |
|
Hotels, Motels & Inns |
|
Janitorial Services |
|
Landscapers |
|
Physicians, Surgeons and Dentists Professional Liability |
|
Manufacturers (All types ) |
|
Professional Liability (Non-Medical Professionals) |
|
Plumbing & HVAC Contractors |
|
Real Estate (Brokers, Builders, Contractors, & Developers) |
|
Retail (All types) |
|
Restaurants (All Types) |
|
Self-Storage Facilities |
|
Supermarkets |
|
Trade Contractors |
|
Wholesalers ( All types ) , and
many more … |
|
|
|
Copyright 2004 Wealth Management Solutions, LLC. |
WMS provides critically needed access to Captive Reinsurance Pools.
Reinsurance Pool participation is a critical and essential part of any
well structured Captive Insurance Program. At WMS, we incorporate the use of
reinsurance in every Captive. By participating in a Reinsurance Pool, a
Captive is able to gain essential risk shifting and risk distribution
benefits that are critical to reducing and stabilizing its long term loss
costs as well as meeting
IRS Safe
Harbor guidelines which regulate the taxation of Insurance Companies.
Captive Management, Captive Insurance Management,
Captive Insurance Company Management, Captive Insurance Manager, Captive
Insurance Management Service, Captive Manager
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