Caitlin Morgan Insurance Services has launched a new captive insurance business to provide a resource for alternative risk solutions and access to captive services.
The new captive insurance business will be based in Cleveland, Ohio.
Christopher Kramer, an insurance and alternative risk expert who has set up captives in the US and offshore, will lead the new captive services team.
Christopher Murray, president of Caitlin Morgan Insurance Services, said: “This started with the creation of several workers’ compensation pools for municipalities and continues today with the recent award of an ‘A’ rating from Demotech on Midwest Insurance Group, our risk retention group for Indiana nursing homes and healthcare services.”
“Despite an overall lingering of a down cycle, there are segments that are currently experiencing a lack of capacity coverage or both, such as commercial auto and certain risks for workers’ compensation. While we always had the capability to customise coverage and risk sharing, our new captives services business centre is now devoted exclusively to this area.”
