/24-7PressRelease/ - Charleston, SC, July 03, 2005 - PrimeFortress Management, LLC provides formation and advisory services for captive insurance companies, which are appealing to business owners and associations.
Many business owners who have experienced low insurance claims in relationship to the premiums paid by their businesses are wishing to reduce their insurance costs by assuming more risk. This may be accomplished by forming a captive insurance company. A captive insurance company is a private insurance company that has been established to insure some, but not all, of the risks of a single-parent company or a group of related businesses, association members, or an industry group.
Captive insurance companies have many benefits for business owners. They can lower insurance costs and reduce income taxes. Captives control risks assumed and premiums paid associated with the risks. These insurance companies control claims and loss management, obtain and tailor coverage to meet your specific needs, and accumulate investment income. By controlling cash flow and protecting assets from predatory lawsuits, captive insurance companies are appealing to many people.
Captive insurance companies are now being used by medical practices, hospitals, trucking companies, auto dealers, timber growers, banks, real estate developers, construction companies, convention centers, service firms, and other businesses. They may also be used by retailers to sell extended warranties, which may be lucrative.
PrimeFortress Management, LLC designs captive insurance companies to make sure the owners' needs are met. They can direct you in maintaining your captive insurance company and building a fund for the future protection of your net worth. PrimeFortress can guide you through the entire cycle of operation year to year as your needs and growth dictate.
PrimeFortress is based in Charleston, South Carolina. South Carolina is one of the most effective and affordable domiciles for formation and management. Visit the PrimeFortress Management website and initiate the beginning of your captive insurance company today. Contact Tom Savage, the Managing Member of PrimeFortress Management, LLC, for more information on captives and our management services.
About Tom Savage:
As a former CEO and CFO of multi-state, public and private regulated insurance companies, R. Thomas Savage, Jr. is a North Carolina licensed CPA who has spent most of his insurance career in South Carolina. He began his business career with KPMG and, now, is a licensed all-lines insurance agent in South Carolina and a non-resident insurance agent in North Carolina.
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