Overview
This course covers the concept of “cost of risk” (COR)—how to quantify, reduce, and manage it. It demonstrates how captive insurance can lower these costs, providing an overview of captives, their types, and their functions. The course also addresses tax and accounting issues affecting captives’ effectiveness in managing financial risk.
Find this course for your license
License or Certification
Regulator
Type
Learning Objectives
- recognize the risk management purpose of using a captive to finance an entity’s risks, identify the elements of captive insurance, and recognize why a captive can insure many types of risks
- distinguish among various types of captive insurance companies
- understand the various ways in which the costs of financing risks through a captive can be lower than the costs of commercial insurance or self-insurance
- recognize the ways in which captive insurance and other risk financing methods can smooth the financial impact of risk
- identify factors considered in determining whether premiums paid to a captive are tax-deductible
Designed For:
WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. For more information regarding WebCE administrative policies such as refunds, cancellations and concerns, please contact Support Services at 877-488-9308.
International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference publications, and is considered the ultimate authority by leading insurance practitioners. Written by industry experts, IRMI courses provide the most up-to-date, practical and reliable information possible.
Course Information
Adding additional credit may change exam requirements.
| Prerequisites: | A basic understanding of risk financing principles and how the insurance industry is structured |
| Advanced Preparation: | None |
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