Plan to attend AON's Captive Insurance Program session
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This past year, MCA Canada and its insurance partner, Aon Reed Stenhouse, undertook an analysis to determine if an insurance captive (an insurance company owned by MCAC to self-insure MCAC members) could provide savings and other benefits to members of the association. The main motivating drivers to place the coverages in a risk-retention vehicle are to: further decrease insurance costs for MCA Canada members, provide more value to MCA Canada members and increase membership base, provide stability of premiums and long-term market leverage, and to continue to provide risk control for members.
The project included an actuarial analysis and financial modeling, and study domiciles considerations, member participation, capitalization requirements and profit distribution. According to the analysis, members could save approximately 5% on their insurance costs up front with an estimated 15% for the reduction when the captive pays dividends. After careful consideration, MCA Canada’s Board of Directors agreed to proceed with an insurance captive for the membership.
Join us for this important information session during our 76th Annual National Conference.
