Global Insurance Management & Consulting, LLC

About Us

Captive Insurance Management

Global Insurance Management & Consulting, LLC (GIMC) is an independently owned and operated captive insurance manager. GIMC was established in 2014 to provide clients with the type of dedicated expertise and customer service lacking at the big firms. Stephen Brown, Owner and President of GIMC has specialized in the formation and management of alternative risk financing solutions for over 20 years.

We are not affiliated with an insurance brokerage. GIMC is free of conflicts of interest. We place our client’s best interests first. At GIMC, our business relationships are based on trust, integrity, and loyalty. Our mission is to empower our clients to exceed their financial and strategic goals by delivering unparalleled knowledge, expertise, and customer service. Our success is built on our client’s success. Success is achieved by delivering results.

The big firms core business is brokerage, with insurance management provided as an ancillary service. GIMC’s core business is captive insurance management. We view our role as a trusted advisor that will guide you through the feasibility and formation of your captive insurance program, and will then provide expert on-going financial reporting and regulatory compliance services.

Assessing Insurance Needs

Is a captive insurance company right for your organization? Owning a captive insurance company is usually a long term commitment utilized as part of a strategic risk management program to reduce insurance costs over time.
Owning a captive insurance company can help you gain control over your insurance programs, provides flexibility in coverage, and offers alternative solutions to the commercial markets when faced with hard markets and steep rate increases.
If your organization's loss experience is better than the industry average its time to consider forming a captive insurance company.
Utilize a captive insurer as a profit center by offering an insurance product to your customers or a group controlled under your organization's risk management program.
Provide your insured, customers, or subcontractors with a simple cost effective way to self-insure.

What Type Of Captive Is Right For You?

Pure Captive - A wholly-owned subsidiary typically insuring the risks of its parent and affiliated companies.
Protected Cell Programs - Allow owners to establish multiple insurance programs while legally segregating the assets and liabilities of each cell from one another. Typically used by commercial insurers, brokers, and banks to provide a vehicle for customers to self-insure.
Risk Retention Group (RRG) - RRGs allow businesses with similar insurance needs to pool their risks and form an insurance company that they operate under state regulated guidelines. Group programs are generally designed to insure underserved specialty niche markets.
Agency Captive - Utilized by insurance agencies through a reinsurance transaction to participate in the risk of its customers.
Association Captive - Owned by members of a common industry or trade association in order to share the risks of that industry among its members.

Our Team

Stephen Brown

Stephen Brown, Owner and President of GIMC has over 20 years of experience in the captive insurance industry. Stephen began his career in the captive insurance industry in public accounting working at Johnson Lambert as an auditor and tax preparer. He has held senior positions at various captive insurance managers, including as a Senior Account Manager at Aon Insurance Managers, a Senior Accountant at Beecher Carlson Insurance Services, Vice President at JLT/Towner Management Group, and Director of Client Services at Kane USA. Stephen has managed and formed over 40 captive insurance companies, including pure captives (single parent), risk retention groups, traditional admitted property casualty companies, sponsored captives (protected cell), group/association, and special purpose captives. His clients have included fortune 500 companies, financial institutions, manufacturing companies, construction companies, faith-based organizations, healthcare groups, public-entity non-profits, and privately held companies.

Frequently Asked Questions

Please contact us if you cannot find an answer to your question.

What is a captive insurance company?

A captive insurance company is a bona-fide insurance company established to self-insure the risks of a controlled corporate group or a group of businesses with similar risks pooling together to share risks. A captive insurance company can also be used as a profit center to provide insurance products to your customers, or to provide a simple solutions for your customers to self-insure.

What types of coverage are common in a captive program ?

Captive insurance coverage is generally applicable to any type of commercial property casualty coverage, including but not limited to property, workers' compensation, general liability, commercial auto liability, auto physical damage, and professional liability.

What are the steps to forming a captive insurance company?

The first step is to conduct a feasibility study. A feasibility study will help to determine if the transaction makes financial sense, outlines your goals and objectives, and determines the correct domicile for establishing the Company. The second step is to prepare a business plan with financial projections, file an application to obtain a license to transact insurance business, and form a legal entity.

Contact Us

Global Insurance Management & Consulting, LLC

steve.brown@globalinsmgt.com

Hours

Monday - Friday: 9am - 6pm