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Managed Risk Insurance PCC Limited (MRI) is a protected cell company set up to provide the benefits of captive insurance through a cost efficient and less bureaucratic entity.
Many businesses are finding it difficult to obtain any insurance cover for certain types of commercial insurance, even where their claims records are good, and numerous others are experiencing dramatic increases in insurance premiums. Against this background many businesses are considering alternatives to the traditional methods of insurance.
A stand-alone captive insurance company may help solve these problems. However there are fairly substantial capital and solvency requirements for captive insurance companies. The use of such structures has therefore generally been restricted to larger organisations, and there are presently over 3,000 captives set up around the world.
The use of a protected cell within MRI is an easier and cost-effective way for a medium/smaller size organisation to take advantage of the captive insurance market. Not only are the costs reduced, but the administrative burden on the organisation is also greatly reduced.
MRI is based in Guernsey and it offers discreet 'Protected Cells' to underwrite the insurance risks of an organisation. The assets of each protected cell are ring-fenced by statute from the liabilities of the other cells and each cell is only used by one organisation or group.
For further information on how MRI can assist your organisation with captive insurance please Contact Us .
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