Safer workplaces not only lead to a lower cost of risk for a company, but they also mean fewer employee injuries and fatalities. At Captive Resources, we take pride in the extensive risk control services we provide to captive members that help lower costs, reduce injuries, and save lives.
For members of the group captives that we support, workplace safety isn’t just a perfunctory task to be taken for granted; it’s an all-encompassing ideal that permeates the organization. If your company takes workplace safety seriously, then a member-owned group captive may be a great fit. The group captives we support recruit best-in-class companies (which helps lower the risk among the group of insureds), then we work to make them even safer.
At the heart of our member-owned group captive model is helping best-in-class companies improve their already sound risk control methods. Through effective risk control programs, Captive Resources (CRI) provides group captive members the purpose and direction needed to achieve excellence. Here is a sample of the risk control services and resources we provide.
Risk Control Services
A network of over 400 independent professionals works with each member-company, engaging in loss prevention services that benefit both the company and the captive. Services include a proprietary industry best practice Risk Control Assessment developed by CRI, action planning to prevent and control losses, hazard surveys, training, and more.
Loss Prevention Services Allocation
On average, at the renewal of each policy year, between 1% and 2% of each member’s premium is allocated towards loss prevention services — a portion of this amount funds group initiatives like Risk Control Workshops and assists at-risk members. The remainder is allocated back to members for use in working with their assigned consultant.
Risk Control Assessment (RCA)
An RCA is an in-depth review of risk control policies and procedures compared to industry best practices. It is used to identify the captive member’s areas of strength and improvement opportunities and assists in the development of mutually agreed upon service action plans with their assigned safety consultant.
Risk Control Group Purchasing Program
The Group Purchasing Program provides members access to high-quality vendors that offer discounted products or services to help prevent and control losses. CRI reviews this program twice a year to ensure it includes the most innovative providers the industry offers.
CRI educates members on risk control and safety through regularly scheduled workshops, networking, and webinars.
Risk Control Workshops
Members participate in workshops that focus on safety, claims management, compliance, and leadership development. In an independent actuarial study, workshop attendance was shown to increase RCA scores and reduce losses.
Members are able to network and share best practices, often resulting in collaborative work.
Risk Control Webinars
Members are invited to participate in monthly and weekly webinars led by subject-matter experts and offer members the opportunity to expand the knowledge and skill-sets of their own safety, claims, and risk management personnel.