Ep. 204: Brokers: Taking Another Look at Captives
Nate Reznicek is the Head of US Distribution at International Re Ltd, an insurance and reinsurance underwriting agency based in London. The company specializes in captive insurance, what Nate describes as a niche inside of a niche. As Head of US Distribution, Nate’s responsibility is spearheading the company’s US marketing strategies and developing sustainable enterprise risk management strategies. He is also part of the Captive Insurance Companies Association Programming Committee.
Nate joins us to discuss what captive insurance is, the risks they cover, and the market they’re after. He shares how he joined the captive insurance industry and what I-Re does for its clients. He describes the different types of captive insurance and the positions you have to fill if you want to start your own captive insurance company. Nate also shares what kept him going despite the economic downturn of 2020.
“The captive insurance space is a very small one. It’s a niche inside of a niche.” – Nate Reznicek
What you’ll learn:
- How Nate found himself working for a captives practice.
- Why captive insurance is a niche inside of a niche.
- What is a captive insurance company?
- The different types of captive insurance.
- The roles you need to fill if you want to start a captive insurance company.
- What does captive insurance cover?
- What I-RE does and how they are different from other captive insurance companies.
Connect with Nate
- Insurance is not regulated at a federal level, but at a state level.
- The most common use of Captive insurance outside of your common P&C policies is going to be in your employer-sponsored healthcare plan.
- Most carriers don’t make money on their underwriting profit.
This episode was brought to you by
Insurance Licensing Services of America (ILSA), America’s premier regulatory compliance experts. To learn more visit ILSAinc.com.