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Multiple - Choice: What are possible benefits to use a captive (can be any type of captive)? a. Completely transfer risk to the fronting company b. Create a source of profit for the pa...

Multiple - Choice: What are possible benefits to use a captive (can be any type of captive)?
a.

Completely transfer risk to the fronting company
b.

Create a source of profit for the parent
c.

Design and customize the company's own risk financing programs
d.

Manage risk using internal sources which are cheaper than external funds
e.

Peer pressure to keep up with loss control which ultimately benefits the business
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Answer #1

Option c. Design and customize the company's own risk financing programs

Captive insurance is a form of formalized self insurance. The captive insurance is different from traditional insurance and is customized and designed to meet the company customized risk of the business.

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