Illinois Captive Insurance Services

Illinois Captive Insurance servicesHome to The Cubs, deep dish pizza, and the best, most progressive businesses, Illinois is a well-regarded gem to the Midwest. The industries that make its economy flourish include manufacturing, exports, agriculture and mining. The service industry is also big in The Prairie State. Hotels, law firms, private healthcare, as well as wholesale and retail establishments provide a patchwork of economic prosperity in the state.

Hidden risks exist within all of these industries and it’s necessary for business owners to take a proactive approach in their risk management and planning. Illinois captive insurance services are available to those who desire to supplement their commercial insurance policies with tailored coverages; a captive insurance company that they control.

Risk Planning

Based in Houston, TX, Capstone Associated Services, Ltd. has provided top-level planning for companies seeking Illinois captive insurance services, delivering true turnkey services for midmarket businesses. In collaboration with The Feldman Law Firm LLP, Capstone provides all of the necessary components of a well-designed, well-managed captive insurance company, including insurance, tax, and legal support. Our expertise is offered in-house for one turnkey fee. Other Illinois captive insurance managers might outsource these critical services, relinquishing control of the planning to 3rd parties.

Coverages written through Illinois captives are industry or business-specific. Examples of coverages include, but are not limited to:

  • Cargo/transit: Coverage to protect the insured against loss or damage to property in transit in owned or leased vehicles, common carriers or goods shipped by freight forwarders
  • Commercial builders risk gap: Expands the insured’s commercial builders risk coverage by buying back certain coverages that are excluded from or limited by the insured’s current underlying insurance policies
  • Commercial umbrella: Expands the insured’s commercial umbrella coverage
  • Special risk – credit card chargeback: Protects the insured against an unexpected increase in its credit card chargeback rate of at least one half percentage point for services and/or products billed, where the increase in chargeback rate may be due to a variety of reasons outside the control of the insured party
  • Special risk – product impairment: Protects the insured against expenses and third party liability involved with a mandatory or voluntary recall of specified products due to product tampering or extortion
  • Special risk – loss of services: Protects the insured against losses stemming from involuntary loss of services from a covered key person, such as a resignation, extended illness, loss of license, etc. and further coverage for legal expenses involved in employment disputes and intellectual property or non-compete disputes following the loss of services of the covered key person

Benefits of Illinois Captive Insurance Companies

Illinois captive insurance companies can be used as powerful tools to cover risks and provide exceptional planning benefits. Captives can cover non-standard or “unique” risks and protect assets, build wealth, etc. As a business owner or advisor, learning more about alternative risk management can position you to build stronger, more resilient businesses year-over-year.

Call Capstone Associated Services, Ltd. at WEB_TEL for a free, no-obligation consultation. or complete the form below.


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