Member-Owned Group Captives: Insurance Redefined in Miami, FL

At SIP Insurance we believe that businesses deserve more control over their insurance programs. That’s why we’ve partnered with group captive industry leaders, to offer member-owned group captive solutions that provide businesses with full control, transparency, safety improvements, claim management, and most importantly – significant cost savings. 

What is a Group Captive?

A group captive is an insurance company jointly owned by multiple businesses. Unlike traditional insurance, a group captive empowers its members to control premiums, manage claims, and improve safety protocols. This model is particularly effective for businesses in industries such as:

By joining a group captive, businesses essentially take ownership of every aspect of their own insurance program including workplace safety, loss control measures, claim management and are rewarded with returns of their unused premiums in the form of yearly dividends.

Key Benefits of Joining a Group Captive

1. Lower Costs: Premiums are based on your company’s actual loss experience, allowing members to control costs.
2. Greater Transparency: Members have direct oversight of operating expenses and claims, providing unmatched visibility into how their insurance dollars are spent.
3. Dividend Potential: If your company performs better than expected, you could receive dividends, turning insurance into an investment.
4. Enhanced Risk Management: Group captives offer extensive resources to help reduce risks, creating safer workplaces and fewer claims.

Who Should Join a Group Captive?

Group captives are ideal for safety-conscious, financially stable companies with an annual revenue between $10 million and $1 billion and employee sizes ranging from 101 to 2,500. Whether you’re in construction, manufacturing, or healthcare, if your business prioritizes safety and seeks long-term cost savings, a group captive could be the perfect fit.

Our Partnerships with Captive Industry Leaders

Our premier member-owned group captive consultants have helped thousands of businesses …Our captive consulting partners have a proven track record of success having helped over 9,000 member companies manage their own insurance and save them up to 40% or more on their premiums.