Alternative Risk Financing
Solutions to Current Challenges With Traditional Insurance
By Kevin Cunningham
Alternative risk financing( also known as captive insurance) is a mature part of the global insurance and reinsurance marketplace. According to industry experts at the industry recognized International Risk Management Institute, the captive industry is evolving rapidly, poised to reach a projected $ 250 billion global market value by 2028.
This surge among businesses seeking alternative coverage methods and cost reduction, underscores the need for a comprehensive understanding of trends, challenges and opportunities for our crane, rigging and specialized transport( CR / ST) marketplace to consider alternative risk financing means and methods.
As we look ahead in 2025 and beyond, it will be helpful for CR / ST businesses and related industry stakeholders to examine the trends and future trajectory of the captive insurance market to assess the advantages and disadvantages of captive arrangements to determine how our industry members may be able to use them to navigate today’ s ever-changing financial landscape of traditional insurance markets.
Business organizations worldwide have been
6 May 2, 2025 www. contractorshotline. com