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The client’s needs may vary, depending on the structure and appropriate requirements of the Company as they may develop from time to time.  Change can be expected.

 

Regardless of the billing method, or the fee structure finalized with service providers, expenses, relating to the Captives/RRG’s operations, will be satisfied monthly as being paid from the premiums collected from the Insured's of the program.

 

These charges may include the following:

1.               Printing (e.g., policies and endorsement forms);

2.               Office supplies (e.g., stationary, office forms and invoices);

3.               Courier deliveries;

4.               Travel expense;

5.               Archiving;

6.               Professional fees (e.g., actuarial, lawyers, computer consultants);

7.               Photocopying and examination fees;

8.               Filing and Company examination fees;

9.               TAXES;

10.               Claims handling.

 

Whatever payment method is agreed upon by the contracted Service Providers, if a service provider is called upon to render services, or engage in activities which are greater than contemplated when setting and agreeing to a fee or flat charge, each of the contracted service providers will have the right to negotiate a separate fee for those services.

 

The above summary represents the INDUSTRY STANDARDS established in; the organization, operation, and management of over 5,000 Captive Insurance Companies and now over 220 Risk Retention Group Insurance Companies in business.  All and any terms, conditions and agreements are subject to modification to meet the needs of each and every different Self-Insured or Insurance Companies purpose.

 

F. Darrell Lindsey

State Approved Captive/RRG Manager

U.S. State Licensed Agent/Broker

 

 

 

 

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