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New Ohio Captive Insurance Market: Good For Business Development & Industry Growth
New Ohio Captive Insurance Market: Good For Business Development & Industry Growth
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OII - Captive insurance companies have existed for more than 100 years as a means for medium-to-large-sized businesses to manage a wide range of their risks through a form of self-insurance. Nearly all major corporations have formed captives, some even establishing more than one to serve a variety of needs. A company may have one captive primarily covering general and/or product liability risks, with a second captive for protecting employee healthcare and other benefits. In 2013, there were 6,342 captives globally compared to 4,688 just 10 years prior—talk about growth! Ohio recently opened its doors to the captive insurance market, allowing Ohio businesses to form captives to help them protect their assets while providing additional tools to manage risk.
Here’s a look at what this means for the future of Ohio’s insurance industry and business development. Read more...https://bit.ly/2MeDofI