Captive Insurance & Captive Insurance Company Services by WMS,LLC Captive Insurance Management , Captive Insurance Taxation , Captive Insurance Feasibility Studies , Captive Insurance Risk Pools , Captive Reinsurance , Captive Insurance Underwriting , Captive Insurance Accounting , IRS Letter Rulings, Turnkey Captive Insurance Services

WMS provides all the Captive Insurance Company Consulting Services your Captive will ever need!

WMS provides a complete menu of turnkey Captive Insurance Company services from identifying the business risks your Captive Insurance Company can insure to performing a comprehensive Captive Insurance Company Feasibility Study, Incorporating and Licensing your Captive Insurance Company in the Domicile which best meets your needs, Operating and Managing your Captive Insurance Company, performing all Accounting, Underwriting, Regulatory and Tax Reporting and Compliance, etc. WMS provides one point of contact for all your Captive Insurance Company needs. This allows us to provide you a consistently high quality of service at the lowest possible cost, with no finger pointing! Please see a detailed list of our turnkey Captive Insurance Company Services below.

Step One - Client Consultation

During an initial telephone consultation we can usually determine if a Captive Insurance Company makes sense for your business. The initial consultation takes around 15 minutes and is free of charge. The initial telephone consultation can be between WMS and the business owner or their designated representative.

Step Two - Captive Insurance Company Risk Analysis

WMS will analyze your current risk exposures and existing coverages in order to identify risks which are currently uninsured, uninsurable, under insured, or uneconomical to insure with traditional insurers. These risks are ideal candidates for insurance by a Captive Insurance Company. Learn more

Step Three - Captive Insurance Company Feasibility Study

The first step to owning your own Captive Insurance Company, begins with a a Captive Feasibility Study from WMS. Each Captive Feasibility Study we performs is custom tailored to meet our client's individual needs. Your customized Captive Feasibility Study will include:

Documentation of Your Captive's Business Purpose

Selection of a Domicile where Your Captive will be Incorporated, Licensed, Operated and Managed.

Selection of a specific Structure for your Captive (i.e. Pure or Single Parent, Group, Association, etc.)

Documentation of the best ownership structure for your Captive

Documentation of the best Capitalization level for your Captive

Identification of the Insurance Lines, Limits, Policy Forms, Rates, Rules and Loss Costs your Captive will use

Identification of the Reinsurance Lines, Limits, Policy Forms, Rates, Rules Treaties, Reinsurers, and Reinsurance Pools your Captive will use

Identification of the Reinsurance your Captive will require by line and limit in order to satisfy IRS Captive Insurance Tax Safe Harbor Rulings.

Identification of the actual Reinsurance Lines, Limits, Policy Forms, Rates, Rules Treaties, Reinsurers, and Reinsurance Pools your Captive will use to meet its Reinsurance requirements

A Multi-Year Captive Costs/Benefit Analysis (over a 1,5,10,15 & 25 year time frame)

5 Years of Pro Forma Financial Statements for your Captive

An Analysis of Captive Insurance Tax Consequences Learn more

Step Four - Captive Insurance Company Creation and Licensing

Retain Registered Agent/Office for Captive in selected Domicile

Incorporate, Organize, and Register the newly created Captive in domicile

File Form SS-4 and obtain a Federal Employer ID # for Captive

File IRC Section 953(d) election to be taxed as a domestic US Corporation (Only if the domicile is a foreign country)

Set Up New Bank and Investment Accounts for Captive

Capitalize the newly formed Captive

Prepare & File the Captive's Insurance License Application with Insurance Regulators in Domicile

Pay all Registration, Application, Licensing, Annual Report and other Regulatory Fees for Captive

Step Five - Captive Insurance Company Operations and Management

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)

Captive Insurance Company Taxation Services

WMS also offers extensive Captive Insurance Company Taxation Services including Captive Insurance Company Tax Planning, Captive Insurance Company Tax Return preparation and filing, consultation regarding IRS Revenue Rulings that deal with the Taxation of Captive Insurance Companies, and much more.

WMS is also happy to act on a 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

Captive Reinsurance Pools

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

WMS Captive Insurance Company Programs & Services

WMS provides all the Captive Insurance Company Consulting Services your Captive will ever need!

Step One - Client Consultation

Step Two - Captive Insurance Company Risk Analysis

Step Three - Captive Insurance Company Feasibility Study

Step Four - Captive Insurance Company Creation and Licensing

Step Five - Captive Insurance Company Operations and Management

Additional Captive Insurance Services

Captive Insurance Company Taxation Services

Captive Reinsurance Pools

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