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Press Releases by Date   |   Press Releases by Company Name

View More Press Releases by National Center for Employee Ownership [NCEO]

Press Release

NCEO Captive Insurance Program Will Launch This Summer

Issued by National Center for Employee Ownership [NCEO]

Jan. 17, 2021

The NCEO and our partners at Scott Insurance have been working hard to launch our ESOP-only captive insurance program. So far, over 75 ESOP companies have engaged in educational sessions, with over 30 participating in one-on-one sessions, and over 20 companies have submitted underwriting data. Companies that have already submitted underwriting data range in size from under 50 eligible employees to over 600, and they are in diverse fields, such as manufacturing, insurance, and distribution.

As we work toward finalizing the initial captive founding members for the July 1 launch, we invite you to learn more on our captive insurance web page, attend the 2021 annual conference, and join the various webinars hosted by trusted leaders in the employee ownership community.

We’re proud of our approach to this captive: our approach is unique because it is exclusively for ESOP-owned companies that are NCEO members. This matters because:

  • You’re partnering with known, high-performing ESOP companiess that tend to have established health, safety, and risk management programs. 
  • Having ESOP-only captives means more security: sharing best practices across members to improve culture, accountability, and financial results. 
  • Positive outcomes for health and workers compensation claims are likelier in captives with the ownership cultures of ESOP companies.
  • An ESOP-only captive promotes and advocates for continuous improvement of wellness and safety.
  • The captive should provide significant insurance savings.

"KTA is proud to be an employee-owned company, and one of the topics that continuously comes up from our employee-owners is the cost of health insurance. We want to do everything in our power to reduce the cost of health insurance for our employees and our company.  All the money we save goes to our bottom line and into our employees' wallets.  On January 1, we took the first step and switched from fully insured to self-insured.  I hope that our next step will be joining the captive with our employee-owned companies, so that we can collaborate on health-related and wellness issues and each of us build stronger companies as an extra benefit."

View More Press Releases by National Center for Employee Ownership [NCEO]

Editor's note: This press release has been issued by the company named above, not BenefitsLink. Reliance on information in this press release might be prudent only after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by BenefitsLink.

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