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What About Wealth?

What About Wealth?

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April 03rd 2012:What is a Captive Insurance Company anyway, and why would I want one?

Every business has risk, and every risk has a cost. The question is, how do we pay that cost? Most business owners ignore the cost or assume it is not there. As a result, we pay taxes on such costs. This means we incur the cost of risk twice, once as a risk, and again as a tax. Such taxes are voluntary and optional. With appropriate planning, the tax code permits us to pay for such risk only once, as a risk, and not again as a tax on risk. The point is not to reduce taxes, but to efficiently recognize and manage the actual cost of risk. This benefits business in many ways, only one of which is

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In 1996 Mr. Turner entered the field of alternative risk solutions through the course of representing clients on insurance matters and has been retained by several large insurance companies including Hartford Insurance, Cuna Mutual Insurance Company, Fidelity Title Insurance Company, Chicago Title Insurance Company and American Title Insurance Company. Mr. Turner is also acknowledged by the Internal Revenue Service for captive industry commentary, is a member of the Utah Captive Owners Association and has published opinions related to tax issues faced by captive insurance companies. As a captive manager, Mr. Turner has overseen the formation of over 600 captive insurance companies. In 2011 M
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