The best time to plant a tree was 20 years ago. The second best time is now.

Today, insurance markets are hardening at a very fast pace. Insurance is becoming much more expensive to purchase from the commercial markets. Most organizations now need to think about not only the levels of insurance they purchase but at what premium costs they are purchasing them at. Many consumers are seeing much higher than expected renewal increases on commercial line policies. Which is why Captive Cell companies can play a pivotal role in helping organizations think about purchasing insurance in a slightly different way.

The Private Lounge Insurance Center represents various captive cells. One of which deals exclusively with licensed Cannabis Business Professionals.

   So, what is a Captive Cell? It's essentially a private self-insurance company where each of its policyholders are also shareholders. An organization can set up a captive for itself or participate in one that already exists. Captives are a risk financing vehicle that allow you to obtain coverage at a lower price point than what commercial markets might offer. One of the reasons that they are extremely popular is because they help you to recoup some of the premium that would normally go to the traditional commercial insurance carrier. Traditional carriers tend to increase your rates year after year regardless of your loss history. Captives do not.

 *When is a Captive a good fit? Are the costs of insuring your risks becoming too expensive? Are those specific risks becoming uninsurable due to decreased carrier appetite or excessive exclusionary policy language? Captives are great for organizations that have zero claims or loss history. The profits that a traditional carrier would take in are now re-directed back to your business in the form of lower premium rates.