Captive Insurance: Mainstream now—Uses and Abuses
 
Captive Insurance is a tool  for small to medium sized business owners that  provides an opportunity to strengthen your risk management program while potentially reducing your overall taxes. A Captive is a licensed property and casualty insurance company that is separate from your operating company, but can be owned by you the business owner, your family or an entity controlled by you or your family. It allows your business to take a current year tax deduction in order for the business to fund for potential insurance claims in the future.  It is funded on an annual basis based on the needs and cash flow of the business.  The potential benefits to business owners are: 1) Minimize insurance costs, 2) Improve cash flow, 3) Control risk and  4) Accumulate wealth. Who would benefit? CPA’s, attorneys, doctors, dentists and other profitable business owners.


Steed Rollins, Jr., MBA, CRPC®
Business Consultant
 Financial Directions Group, Inc.

 

2012 Chamber U: Sponsor

About Chamber U: Chamber U is a new, innovative initiative of the Greater Durham Chamber of Commerce designed to address critical topics and to help prepare Chamber members to meet the ever-changing demands of the workplace. These once-a-week educational opportunities provide members with valuable tools and information they can take back to their businesses and utilize to help them achieve the success they desire. The program provides individualized growth and development opportunities for entry level to executive leadership covering the entire gamut from "nuts & bolts" to "visionary thinking."