Unusual Captive Utilizations – Case Studies & Trends Dan Richards, Global Rescue – Panelist Brad Schock, GMAC Insurance – Panelist Todd Williams, Willis Global Solutions Consulting Practice – Panelist Anne Marie Towle, Willis Global Captive Practice - Moderator Tuesday, March 12, 2013
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Unusual Captive Utilizations – Case Studies & Trends
Dan Richards, Global Rescue – Panelist
Brad Schock, GMAC Insurance – Panelist
Todd Williams, Willis Global Solutions Consulting Practice – Panelist
Anne Marie Towle, Willis Global Captive Practice - Moderator
Tuesday, March 12, 2013
Agenda
• Framework
• Global Rescue Case Study
• GMAC Case Study
• Unusual Transactions
• Questions & Answers
Global Rescue Case Study Dan Richards
Company Overview
• Global Rescue founded in 2004
• Crisis Services Company (CSC) founded in 2010
• Provides critical services to individuals, corporations & governments
• By integrating operational capabilities and insurance, Global Rescue & CSC increase enterprise resiliency
“In my personal military judgment, we are living in the most dangerous time in my lifetime, right now.”
General Martin Dempsey, Chairman, Joint Chiefs of Staff
February 15, 2012
Source: Goddard Institute for
Space Studies – NASA. “NASA
finds 2011 Ninth Warmest year on
Record” January, 2012.
Duty of Care is the legal
obligation an organization has to
provide its employees with the
necessary information,
resources, and reasonable care
to ensure their health, safety,
and security.
Failure to meet Duty of Care
obligations can result in:
• Significant corporate liability
• Expensive evacuations and
service requests
• Devastating public relations
• Fines and potential criminal
charges
Integrated capabilities are critical for success
Information &
Intelligence
Capabilities
Medical
Services Security
Services
Financial Risk
Management
Result: a complete Risk and Crisis
Management Response Program
Hezbollah – Israeli Conflict: Beirut, Lebanon 2006 Russian Invasion: South Ossetia, Georgia 2008 Terror Attacks: Mumbai, India 2008 Earthquake: Port au Prince, Haiti 2010
Earthquake: Santiago, Chile 2010 Arab Spring: North Africa / Middle East 2011 Tsunami and Nuclear Disaster: Sendai, Japan 2011
Thousands of individual missions worldwide.
Active in every major global incident since 2004
• Crisis Services Company’s role
• Provides underwriting solutions to:
• Global Rescue directly
• Global Rescue clients through a front
• Global Rescue client captives
• Employee benefits
• Client’s run their benefits through their captives; share and pool risk with CSC; integrate services
Efficient Risk Retention and/or Efficient Risk Transfer
1. Transfer the risk by buying a derivative designed for the purpose
2. Retain the risk by issuing a policy from the captive to the parent
3. Hedge the risk by issuing a policy from the captive and having the captive buy a the product in derivative form
Product can be introduced that would protect you from these risks by more effectively using your captive and/or transferring the risk to capital markets