Association Captive


Homogenous Industry Association


This Association program had been in existence for more than ten years. The broker that managed it on behalf of the Association had developed and maintained exceptional loss and exposure data for the group. Their program had a consistent track record of favorable results from an underwriting perspective. The Association decided to form a Captive to enable them to participate in the risk and the rewards of their insurance program. While they knew they had an appetite for risk, they didn’t feel comfortable with 100% exposure. After determining their risk profile, they knew they needed a risk-sharing partner.


We’ve been involved in Alternative Risk Transfer (ART) Insurance for many years. We understand and are comfortable with risk sharing. When the Association presented us with the opportunity to handle the claims and participate in risk sharing, we were immediately enthusiastic. The broker provided the historical loss and exposure data, and we quickly determined this was a program we wanted to participate in as a risk-sharing partner.

It proved to be a great opportunity for both the Association and for Athens. The Association was thrilled to discover an experienced, well-regarded claim administrator that was willing to put “skin in the game.” They also enjoyed the fact that they now had a partner whose interests were fully aligned with their own. We viewed the partnership as a great opportunity for the exact same reasons.


Since the inception of the risk-sharing arrangement, program loss results have been exceptional. The Association has also enjoyed the peace of mind that comes with knowing their claim administrator is also a primary risk-taker in the program. Beyond that, the Association members (who are also the policyholders) have benefited from high-caliber claim handling.

Reduced loss costs have allowed the program to continuously offer competitive pricing. The Association has accomplished its two primary goals:

  • The development of an exclusive insurance product that is truly beneficial to their members.
  • Favorable underwriting results that generate critical revenue for the Association, and will allow it to continue to serve its industry well into the future.