A captive insurance company is, in a nutshell, an insurance company formed by a business owner to insure the risks of the operating business. The operating business pays premiums to the captive, and the captive insures the risks of the operating business. A captive is much more than an exotic form of self-insurance: It is the creation of a new insurance company that has the potential to grow from being a mere captive into a full-blown insurance company seeking to profit from underwriting the risks of others. Adkisson’s Captive Insurance Companies provides a basic introduction to captives and their benefits, including: utilize your own experience ratings; recapture underwriting profits; underwrite exposed risks and deductibles; access the reinsurance markets; and transfer wealth between generations. This book also provides a unique look at the wealth transfer, accumulation and preservation advantages of captives, as well as an overview of the types of captives, taxation of captives, and captive domiciles.
Jay Adkisson is an attorney and writer living in Southern California. Jay is famous for, variously, being the creator of scam-fighting website Quatloos.com, an expert witness to the U.S. Senate Finance Committee, and an attorney in difficult collection cases. A native Oklahoman, Jay is also known for his personal fight against eye cancer and his creation of Losteye.com to support others who have lost an eye to various causes, and is one of the few private pilots to obtain their license with only one eye. Groups as diverse as the American Bar Association and the the American Society of Plastic Surgeons have had Jay as the speaker at their events.
An interesting article about Jay Adkisson in litigation is found at http://www.thestranger.com/seattle/the-great-left-coast-newspaper-war/Content?oid=3626956
