By Mary Sams, Senior Analysis Analyst, Triple-I
Impression Re Ltd. – a member-owned captive fronted by Zurich North America – brings collectively firms from quite a lot of industries that share an curiosity in each threat administration and sustainable enterprise practices.
The captive is a partnership between Zurich North America and Innovative Captive Strategies (ICS). Along with being one of many largest suppliers of business insurance coverage services in the USA and Canada, Zurich North America is a part of world insurer Zurich Insurance coverage — an organization well known for its dedication to sustainability.
Group captives allow firms with related threat profiles to scale back their insurance coverage prices by pooling threat and simplifying threat administration. Typical buildings embrace committees managing threat management, finance, and underwriting. Impression Re provides a sustainability committee and can supply members better management and administration of auto, basic legal responsibility, and staff compensation applications, in addition to offering entry to administration providers centered on sustainability from Zurich Resilience Solutions (ZRS).
ZRS will conduct a sustainability evaluation of the member firm’s carbon footprint and power consumption. The evaluation is just not designed to exclude non-conforming firms from membership however to supply baseline information towards which members can measure their progress towards their very own sustainability targets. The target is to quantify the enterprise advantages of sustainability and talk these advantages to stakeholders.
Impression Re is among the many winners introduced within the Business Insurance 2023 Innovation Awards.
Be taught Extra:
Group Captives Supply Price-Delicate Corporations Alternatives to Save in Face of Inflation
Pandemic Fuels Progress in Captive Insurance coverage
Triple-I Paper Takes a Detailed Take a look at Member-Owned Group Captives
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