|
Austin Strategic Risk Partners, LTD is a
Texas Limited Partnership formed in 2002. We are in the process of forming a Captive Insurance Company Our sole focus is property/liability insurance. Our owners are also our clients. We have formed an association of like minded real estate owners. |
| Due to the events of September 11, 2001, mold issues, and the general state of the economy, many current insurance have incurred massive losses. All insurance premiums have increased dramatically upon renewals. |
| With the present market conditions, our owners/clients will be able to offer considerable savings and/or income to our investors. |
| Our business strategy will undertake several phases to complete as economic thresholds are met. |
| Insurance companies have many costs that can be reduced or eliminated by using a captive insurance company. Two of those costs include overhead and profit, which can be as much as 40% of the premium. A captive insurance company will not eliminate all costs, but they will be significantly reduced. |
| AUSTIN RISK MANAGEMENT PARTNERS intends to offer only property/liability insurance. This is a simple but effective coop of similar investors with a common goal of saving money on escalating insurance costs. Listed below are several points which we feel offer the best possible solutions: |
- Creates buying power by combining our properties
- Targets only real estate investors/owners
- Only offers high deductibles of $10,000
- Purchase reinsurance above $100,000
- Have one general policy
- Exclude mold
- Keep overhead low
- Regulated by the State of Texas
- Maintain a relationship with a fronting company with rated paper
- Invest the cash reserves per law
- Invest the cash unused premiums per law
- Do not pay commissions on policies of stockholders
- Save approximately 20%, or $210,000.00
|
| With premium volume now approaching $5 billion, new captives include the nation’s leading mining equipment manufacturer, a leading drug manufacturer, and four hospital groups. New licenses were issued to other well known companies as well: |
- Pepsi Bottling Group
- Kroger Company
- A.G. Edwards, Inc.
- Goldman Sachs Group
- American Century Companies
- Gannett Company
- Wendy’s International
- Rotary International
|
| The events of September 11, 2001, are clearly influencing the industry. “The market was already hardening,” said Crowse. “After September 11th, new captive activity has increased significantly here in Vermont.” Nine captives were licensed in the month of December. Captive managers in Vermont are reporting activity two and three times the usual pace. |
| By having only owner/investors in AUSTIN RISK MANAGEMENT PARTNERS, we will be able to pick our properties for the safest, lowest risk possible. |
