By Mary Sams, Senior Research Analyst, Triple-I
Impact Re Ltd. – a member-owned captive fronted by Zurich North America – brings collectively firms from quite a lot of industries that share an curiosity in each danger administration and sustainable enterprise practices.
The captive is a partnership between Zurich North America and Innovative Captive Strategies (ICS). In addition to being one of many largest suppliers of economic insurance coverage services and products within the United States and Canada, Zurich North America is a part of world insurer Zurich Insurance — an organization well known for its dedication to sustainability.
Group captives allow firms with comparable danger profiles to cut back their insurance coverage prices by pooling danger and simplifying danger administration. Typical buildings embrace committees managing danger management, finance, and underwriting. Impact Re provides a sustainability committee and can provide members higher management and administration of auto, normal legal responsibility, and staff compensation applications, in addition to offering entry to administration companies centered on sustainability from Zurich Resilience Solutions (ZRS).
ZRS will conduct a sustainability evaluation of the member firm’s carbon footprint and power consumption. The evaluation is just not designed to exclude non-conforming firms from membership however to offer baseline knowledge in opposition to which members can measure their progress towards their very own sustainability objectives. The goal is to quantify the enterprise advantages of sustainability and talk these advantages to stakeholders.
Impact Re is among the many winners introduced within the Business Insurance 2023 Innovation Awards.
Learn More:
Group Captives Offer Cost-Sensitive Companies Opportunities to Save in Face of Inflation
Pandemic Fuels Growth in Captive Insurance
Triple-I Paper Takes a Detailed Look at Member-Owned Group Captives