OFFSHORE ACCOUNTING JOBS - CAPTIVE INSURANCE
Offshore Accounting Jobs - Captive Insurance
A captive insurance company is one which is wholly-owned by
another organization (generally non-insurance). Its purpose is to
insure the risks of the parent organization and other specified
affiliates. The main lines of coverage vary since captive insurance
companies provide highly customized insurance solutions to their
clients. The traditional lines of coverage include property, workers'
compensation, general liability, medical liability and business
interruption but can also cover terrorism or bioterrorism.
The captive insurance industry has developed over the last 30
years and continues to evolve as more and more companies are forced to
innovate to meet their risk management needs.
The management of these companies is generally based in the offshore jurisdictions of Cayman, Bermuda, and the British Virgin Islands and is normally undertaken from day to day by qualified accountants.
As an account manager or account executive, you would manage a
portfolio of captive insurance companies and be primarily responsible
for financial reporting to the shareholders, management of claims,
maintenance of corporate records, and compliance with the relevant
captive insurance laws. You may also be responsible for presenting the
financial reports at Board meetings in your capacity as an officer of
the board, so excellent communication skills are required.
Captive Insurance Account Managers are often (but not
always) required to travel within North America to attend board meetings
on a quarterly or annual basis.
Our clients are some of the best known insurance brokerage firms in the world.