Risk Services is an approved captive management firm in the major on-shore and off-shore domiciles, providing financial reporting, regulatory compliance, and other captive servicing needs. We provide complete captive management services, from conceptual analysis and feasibility investigation, through day-to-day operations.
We provide policyholder services to our RRG group clients through a dedicated department of credentialed insurance professionals. This includes, but is not limited to underwriting, rating, quote issuance, policy and endorsement issuance, premium billing and collection, premium accounting and reporting, and premium tax and surplus lines reporting.
Risk Services is a licensed reinsurance intermediary in all 50 states. With strong expertise in both the domestic and foreign reinsurance markets and access to both brokered and direct market writers, we provide direction in the negotiation, development, and management of reinsurance arrangements. As an intermediary, we are distinctive in that we only serve in this capacity for our managed captive insurance clients. This puts us in a unique position when working with the reinsurance markets, who have the additional confidence that Risk Services will be providing services all year, as opposed to solely in an intermediary capacity at renewal.
We facilitate in the formation and licensing of new Captives and Risk Retention Groups. We assist in the structuring of insurance and reinsurance, review of policy forms and coverages and the drafting of business plans, corporate and service provider documents, as well as the coordination of client, reinsurer, and service provider partners.
We offer the full range of financial reporting and insurance accounting functions, including preparation of both quarterly and annual STAT and GAAP financial statements and NAIC reports. We also provide proforma financial projections for our clients.
Risk Services can provide full underwriting and policyholder services or assist our clients in developing and implementing effective underwriting guidelines, policy terms, and endorsements for achieving their goals. This includes policy and endorsement issuance, billing and collection services, premium auditing, policy record maintenance, and customer service.
Risk Services’ dedicated regulatory compliance office works closely with onshore and offshore regulatory officials and also provides full premium and surplus lines tax and other regulatory filing services.