05/06/2024 | Press release | Distributed by Public on 05/06/2024 08:03
NEW YORK, May 6, 2024 - In the realm of employee benefits, the trend towards self funded healthcare is unmistakable, as the regulatory landscape continues to change and healthcare costs continue to escalate. The National Association of Insurance Commissioners estimates that approximately 90% of Fortune 500 companies have captive subsidiaries. To clarify this trend, QBE North America, a leader in the insurance sector, explains why captives are vital in healthcare strategies. Captives are specialized insurance subsidiaries that companies use to manage risks more effectively and economically.
"Captive insurance solutions are gaining traction because they allow employers to maximize control, spread risk and enhance negotiating power," says Tara Krauss, head of accident and health at QBE North America. "With a self-funded health plan, companies are not just buyers of insurance, but stewards of risk management."
QBE North America's five reasons to choose captives for employee benefits include:
QBE specializes in underwriting single-parent and industry-specific group captives. This includes healthcare, hospitals, higher education and energy sectors. Their integrated approach in program management, coupled with a skilled team, ensures responsiveness to customer needs. For more information, please visit here.
The information and recommendations presented herein are for general informational purposes only. QBE North America assumes no liability in connection with your use or non-use of such information and does not guaranty that the information includes all possible risks or unusual circumstances that may occur. QBE North America is the marketing name for QBE Holdings, Inc. and its subsidiaries. QBE and the links logo are registered service marks of QBE Insurance Group Limited. © 2024 QBE Holdings, Inc.
About QBE North America
QBE North America is a global insurance leader helping customers solve unique risks, so they can stay focused on their future. Part of QBE Insurance Group Limited, QBE North America reported Gross Written Premiums in 2023 of $7.6 billion. QBE Insurance Group's results can be found at qbe.com. Headquartered in Sydney, Australia, QBE operates out of 27 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business primarily through its insurance company subsidiaries. The actual terms and conditions of any insurance coverage are subject to the language of the policies as issued. Additional information can be found at qbe.com/us or follow QBE North America on LinkedIn, Facebook and Instagram.
Media Contact:
Amanda Phillips
Lead Communications Partner
QBE North America
[email protected]