HOME
ALTERNATIVE RISK TRANSFER MANAGEMENT The typical responsibilities assumed by the “manager” of an Alternative Risk Transfer program, particularly a Captive or Risk Retention Group Insurance Company, under the Captive Laws or Self Insured Laws of each state, are herein reviewed. The Captive Manager is like the President of the Company. The Insurance Department’s will contact and hold the Captive Manager responsible for the management and operations of the Insurance Company or Self Insured program approved in their state. This will be true in the Domicile State or in any approved states. The Captive Manager serves as the Insurance Companies interface with, actuaries, owners, insured's, auditors, investment managers, attorneys, and Insurance Departments. The Captive/RRG Manager has the ultimate responsibility for communicating with the Captive/RRG Insurance Companies owner or owners on all pertinent issues, such as state regulatory requirements and Captive/RRG board resolutions. All Business Plan changes must be reported to the Insurance Department, in the normal course of business. A Captive/RRG Managers duties TYPICALLY include: ● Producing monthly and quarterly financial statements; ● Overseeing annual audits; ● Ensuring regulatory compliance; ● Setting and recording reserves in conjunction with the actuary or loss reserve specialist; ● Monitoring time deposit materials and cash flow position; NEXT PAGE
	BACK – USE ARROW TO PRINT USE PRINT PREVIEW