Carmel, IN., 2016 – Caitlin Morgan Insurance Services (Carmel, IN), a leader in the development of specialty insurance programs and alternative risk solutions and also a member of the TMPAA, announces the launch of Caitlin Morgan Captive Services (www.cmcaptives.com) to provide program agents and policyholders a resource for revenue enhancement, alternative risk solutions and access to captive services. The new office is located in Cleveland, OH.
Christopher Murray, President of Caitlin Morgan Insurance Services, says “In addition to providing our agents and specialty intermediaries with profit strategies and book build up plans, our firm has been providing alternative risk solutions to our agents and their policyholders for close to 25 years. This started with the creation of several workers’ compensation pools for municipalities and continues today with the recent award of an “A” rating from Demotech on Midwest Insurance Group, our risk retention group for Indiana nursing homes and healthcare services.”
Recognizing that agents needed knowledge and education about agency captives and captive solutions, Caitlin Morgan helped organize a protected cell company, Constitution Insurance Company, in Tennessee in 2014. “Despite an overall lingering of a down cycle, there are segments that are currently experiencing a lack of capacity and coverage, or both, such as commercial auto and certain risks for workers’ compensation. While we always had the capability to customize coverage and risk sharing, our new Captives Services strategic business unit is now devoted exclusively to this area”.
Christopher Kramer, an insurance and alternative risk expert and former agency owner, has created agency captive solutions in the US and offshore, such as Bermuda, Barbados and Cayman, some in excess of $40 million, will lead the efforts of Caitlin Morgan Captive Services. “While our organization has historically had the expertise to provide alternative risk transfer solutions for both the agent and client, the launch of Captive Services will now focus on educating the agent and their policyholder on a variety of risk transfer options, including individual, group or program captives. Program business is big business and we consider the program or specialty agent a vital piece of the overall captive industry. Our goal with program administrators and other specialty intermediaries is to enhance their revenue by basically creating the means to encourage more revenue with the same transaction.
About Caitlin Morgan Insurance Services
Caitlin Morgan Insurance Services (www.caitlin-morgan.com) assists independent agents in placing business and developing package programs for select industry niches, providing products in four core areas: Workers’ Compensation Wholesale Brokerage, Healthcare Wholesale Brokerage, Captive Consulting and Management, and Alternative Risk Products.
About Caitlin Morgan Captive Services
Caitlin Morgan Captive Services (www.cmcaptives.com) is devoted to helping the program and general insurance agency and brokerage industry develop, implement and manage captive-based strategies that can help increase the amount of revenue from the same transaction involving their area of expertise. For their policyholders, we provide solutions to reducing the overall cost of risk, risk sharing and risk transfer alternatives to the traditional markets using our Tennessee domiciled protected cell company, Constitution Insurance Company (www.constitutionins.com).
For more information regarding this news release, please contact:
Christopher L. Kramer John Haigerty
Caitlin Morgan Captive Services Caitlin Morgan Insurance Services
(317) 575-3999 (317) 575-4451
Email: ckramer@cmcaptives.com Email: John.Haigerty@caitlin-morgan.com
