Interest in setting up a captive insurance vehicle has increased in recent years. And while traditionally mainly larger organizations were the ones setting up captives, now many smaller organizations are reaping the benefits of such a risk retention entity.
Whether a single parent captive or a cell, a captive vehicle provides its owners with insurance options that may be most apparent when the traditional insurance market is challenging. However, captives can be effective beyond challenging cycles, providing owners with options for difficult-to-insure risks. Further, having a captive set up in advance allows organizations to be agile and able to pivot when the need arises, for example ahead of a difficult renewal.
In this episode of Risk in Context, Ellen Charnley, President of Marsh Captive Solutions, and Mike Serricchio, Sales and Consulting Leader for Marsh Captives Solutions in the Americas, discuss the value of captives regardless of the size of an organization or the market cycle.
President, Marsh Captive Solutions
United States
Ellen Charnley is President of Marsh Captive Solutions, responsible for 550+ Marsh colleagues and more than 1,900 captives under management across 55 domiciles, with premium volume totaling more than $70 billion. She has more than 20 years of experience working with domiciles and captives. In 2018, she became the first woman to top Captive Review’s Power 50 list.
Americas Sales and Consulting Leader, Marsh Captive Solutions
United States
Mike Serricchio is the Sales and Consulting Leader for Marsh Captive Solutions in the Americas. He assists clients in the US and globally with the feasibility and organization of single-parent captives, as well as risk retention groups and rent-a-captives. He handles a range of consulting services surrounding various captive issues and concerns, including capitalization levels, new coverages, tax concepts, captive investment opportunities, and cost savings.
