Taking Control of Your Risk Strategy

In this episode of The Legacy Lab, we’re diving into captive insurance—a powerful tool that can help business owners take control of their risk, stabilize costs, and build long-term financial strategies. Hosts Ashley Simpson and Megan Davis are joined by Tom Bacharach from RMC Group, who has years of experience guiding businesses through the process of forming and managing captive insurance companies. Together, they unpack what captive insurance is, why it’s worth considering, and which businesses are the best fit.

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Key Takeaways

• What captive insurance is: Instead of paying premiums to a commercial insurance carrier, businesses create their own insurance company to cover specific risks.

• Tailored coverage: Captives allow companies to design policies that fit their unique risks—even those the traditional market won’t cover.

• Five key benefits:

  1. Tailored coverage

  2. Cost control and savings

  3. Stronger risk management

  4. Access to reinsurance for large risks

  5. Long-term stability in premiums

• Who’s a good fit: Generally mid-sized to large businesses paying at least $250,000 in annual premiums, especially in industries like construction, healthcare, or transportation.

• Not just for Fortune 500 companies: Captives are increasingly accessible to mid-sized businesses looking for cost stability and better coverage options.

Other Resources

• Meeting Link for Tom Bacharach

• Top 5 Industries That Benefit Most from Captive Insurance >> Read here

• Captive Insurance: A Smarter, More Strategic Way to Manage Risk >> Read here

• Follow us on social networks at @rmcgp on LinkedIn, Facebook and Instagram