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THE WAY FORWARD

 

Upcoming Meeting

July 10th-11th, 2024

Dubuque, Iowa

 

CAPTIVE BENEFITS

REDUCE TOTAL COST OF RISK
Membership in a captive requires a significant commitment to risk management. Rather than a conventional insurance company profiting from the member’s superior financial condition and risk management programs and using those profits to subsidize the premiums of other less attractive companies, members of the captive can reduce their cost of risk when losses are less than projected.

CLAIMS MANAGEMENT
Having members included in the claims process yields a much
better result than dictating claim outcomes. 

STABILITY OF THE PRICING CYCLE
With the group captive's buying power, there is less exposure to market pricing, so the captive avoids the disruptive underwriting cycles in the traditional marketplace. 
CAPTIVE BENEFITS
ABOUT

2021

Year Established

7

CAPTIVE
MEMBERS

4

 
STATES
represented
by members

$4.4

MILLION TOTAL PREMIUM
 

ACRES HISTORY

Acres Insurance Limited (the “Company”) is being created for food and agriculture companies and related businesses, in particular growers, producers, processors and distributors of food related products, to obtain adequate insurance coverage at affordable rates and to be treated as a partner in the overall risk management process. The founders of the Company perceive that the commercial insurance industry is not responsive to this basic commercial necessity.

 

The Company will be licensed and managed in the Cayman Islands to reinsure the risks of its shareholder insureds written by a Policy Issuing Carrier which is licensed and provides insurance coverage in one or more states of the United States. Management endeavors to ensure that such Program Insurer is rated “A-” or higher by A.M. Best Company. The types of coverage initially written by the Company will be Workers’ Compensation, General Liability and Business Auto Liability and Physical Damage. The Company is capable of expanding into other types of coverages.

 

The Company believes that its management strength will lie in strong individual involvement by shareholders during semi-annual board meetings. It is anticipated that Committees will be established in the following areas to support the Board of Directors: Underwriting, Loss Control, Finance, Nominating and Member Development. The Board will rely on the recommendations of these Committees to establish policies. Day-to-day management of the Company will be provided by the Company’s licensed off-shore Insurance Manager.

SERVICE PROVIDERS

SERVICE PROVIDERS

Grey version of the Ernst Young logo.
White logo for Mariner Wealth Advisors.
White logo for Arch Insurance.
White logo for Pinnacle Actuarial Resources, Inc.
White logo with the letters PWC.
CONTACT

CONTACT

Inquiries

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Contact Info

Suite 200, 2nd Floor, Leeward 1

Regatta Office Park, West Bay Road, PO Box 10233

George Town, Grand Cayman, KY1-1002

Cayman Islands

Joni Steffen

(345) 914-2256

Joni_Steffen@artexrisk.com

 
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