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Canadian companies are navigating a time of unprecedented change. They’re facing uncertainty around the North American Free Trade Agreement (NAFTA) replacement, known as the United States-Mexico-Canada Agreement (USMCA); they’re up against an increasingly stringent regulatory environment around cybersecurity and data privacy; they’re trying to weigh up the opportunities and challenges that come with emerging technologies and digital development; and they’re battling an increasingly volatile climate which is driving catastrophic losses.
In times of disruption, good or bad, uncertainty over the risk landscape often drives businesses to start thinking about captive insurance as part of their risk management strategies. A captive insurance company is essentially a form of self-insurance whereby the insurer (the captive) is wholly owned by the insured (the business). The types of entities forming captives range from major multi-national corporations to smaller non-profits. It’s a global marketplace and it’s used by all industries.
From an organizational standpoint, a captive…
