Self-insured retention (S.I.R.)
Self-insured retention or captive insurance can be an essential aspect of risk management.
If your organization has decided to explore self-insured retention, make sure you have the necessary administration and services in place for success.
Our Self-Insured Retention program allows corporations to seek this creative solution with confidence. With our fronting services team, experienced claims managers, and risk engineers supporting your business goals, we help minimize your corporation’s total costs.
A protective partnership
Solutions for complex risks
For many corporations, the use of a self-insured retention or a captive insurance company is an essential part of their risk management strategy. While these strategies provide insureds with proven benefits, there is still a need for related administration and services. Fronting services combine fronting with established value underwriting, quality claims management and risk control services to help minimize a corporation’s total cost.
Target
Companies wishing to retain and fund losses via their cash flow while reducing risk transfer costs. Coverage can be tailored to meet the insured’s needs.
Policy highlights
Capabilities
- Singular point-of-contact for all fronted coverage lines and administration (including globally admitted policy issuance)
- Flexible policy limits (dependent on type and amount of collateral)
- Standalone fronting placements
- Risk transfer placements, where needed coordinated with other Liberty units
- Underwriting expertise, including policy form review and pricing guidance
- Industry standard and/or manuscript policy forms
- Access to over 90 countries via Liberty Mutual Group or strategic partners
- Claims administration by insured considered subject to acceptable experience levels and appropriate third party administrator/legal counsel availability
Collateral
- Cash and/or letter of credit
- Amount and type required based on the specific characteristics of the fronting placement
Fronting fee
- Negotiable (subject to $10,000 minimum), plus applicable premium taxes, boards & bureau charges
- Claims administration fee to be charged in addition to fronting fee where Liberty administering claims
Capacity
Dependent on type and amount of collateral provided.
Informational requirements for fronted program
- Full underwriting submission (including loss history)
- Proposed policy and other related contracts
- Audited financials for insured (or entity providing indemnity)
- Other to be advised, as specific to fronting program under consideration
Our difference
- Servicing the Canadian market since 1996, providing fronting and other alternative risk management solutions
- Experience in numerous industry sectors, including petro-chemical and manufacturing
- Seamless experience for brokers and insures via a single point of contact
- Access to services in over 90 countries via Liberty Mutual Group offices, as well as its strategic partners
The materials herein are for informational purposes only. All statements made are subject to provisions, exclusions, conditions, and limitations of the applicable insurance policy. Any such case study, example, or illustration cannot guarantee you will achieve similar results or outcomes. Individual outcomes may vary based on your particular facts and circumstances, policy language, and applicable law. Coverages and features are not available in all provinces and territories. Eligibility is subject to meeting applicable underwriting criteria. Learn more about Liberty Mutual Canada, including our privacy policy, at libertymutualcanada.com or call us toll-free at 800-461-5079.
Liberty Mutual Canada is the registered business name under which the Canadian branch of Liberty Mutual Insurance Company operates in Canada. Coverage provided and underwritten by Liberty Mutual Insurance Company.
