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Blog Posts (171)

  • Nuclear Verdicts and Their Impact on Captive Insurance

    As we navigate the increasingly litigious landscape of risk management, we'd like to highlight trends related to  nuclear verdicts and their impact on captive insurance . The below insights and trends can help inform your strategic captive insurance decisions moving forward: Escalating Severity and Frequency of Nuclear Verdicts : Studies show an upward trend in nuclear verdicts, with a record number of "mega" nuclear verdicts ($100 million or more) in 2022 and 2023. The median nuclear verdict was $21 million, with product liability cases peaking at $36 million in 2022 - a 50% rise over a decade. This trend underscores the need for captive insurance solutions that can provide higher limits and more flexible coverage options to address the growing risk of extreme verdicts. Volatility and Rebound of Nuclear Verdicts : The frequency of nuclear verdicts dropped significantly during the COVID-19 pandemic but quickly rebounded to near pre-pandemic levels by Q3 2021. This volatility highlights the need for captive insurance solutions that can adapt quickly to changing litigation landscapes. Captives can offer the flexibility to adjust coverage and limits rapidly in response to such fluctuations in verdict trends. Long-Term Upward Trend : Excluding the pandemic years, there's an upward trend in the frequency of reported nuclear verdicts at all levels over the 10-year study period. This persistent increase underscores the growing importance of captive insurance in providing adequate coverage for large verdicts.  Source:  US Chamber of Commerce Institute for Legal Reform   Cottingham & Butler's captive insurance programs, backed by dedicated claims adjusters, have achieved a 99% renewal rate across our 12 captives with 380+ members. This success emphasizes the value of specialized claims management in today's challenging legal environment. Why is a dedicated claims adjuster crucial? Expertise in Large Claims : Specialized knowledge needed to navigate complex, high-stakes cases Proactive Risk Management : Proactive identification of trends and potential high severity cases and implementation of early resolution strategies Tailored Approach : Provides personalized attention to each client and for each case, potentially reducing the likelihood of nuclear verdict Cost Control : Expertise can lead to more efficient claims handling and potentially lower overall costs Click here to get in touch with our captive experts!

  • On-Demand | CVSA Brake Check: Insider Tips and Tricks

    CVSA’s Operation Airbrake Program's next scheduled campaign will occur from August 25-31, 2024. In 2023, 18,875 commercial motor vehicles were inspected during this campaign, with 2,375 of those being placed out of service for brake-related violations. Properly functioning brake systems are crucial to safe commercial motor vehicle operation.   This webinar will bring in an inspector from the Ohio Department of Safety to prepare you for this campaign, and to bring education on what you as a carrier and/or driver can do to prevent these types of violations not only during this campaign but in your daily operations as well. LEARNING OBJECTIVES Helping fleets prepare for the CVSA Operation Brake Check By identifying issues with brake lining and pads Learning about the components the inspectors will check. Discussing the importance of a proactive vehicle maintenance program. Reducing roadway crashes caused by braking systems on commercial motor vehicles. Click here to download the presentation slides.

  • On-Demand | Equipped for Safety: Choosing Fall Protection Gear

    Fall protection is critical in the construction industry to prevent serious injuries and fatalities. OSHA’s Subpart M outlines fall protection requirements, and employers must select measures compatible with the work being performed. Assessing the specific work context and choosing the appropriate equipment to keep workers safe is paramount to reducing construction-related worker fatalities LEARNING OBJECTIVES Selecting the right equipment (anchor points, harnesses, lanyards) Assessing work contexts Best practices for gear inspection Click here to download the presentation slides.

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Pages (63)

  • Manufacturing Captive | Cottingham & Butler

    Manufacturing Captive Cottingham & Butler Captives & Programs deliver alternative risk solutions for best-in-class companies. CONNECT WITH OUR TEAM As a member of our Manufacturing Captive, members collaborate with similar, top-tier companies, gaining control over their insurance programs while fostering the potential for significant culture and financial improvements. Mfg Captive Testimonial “With the help of the captive, we have added the support and structure necessary to not only make safety a focus but to make safety a part of the Woolf Culture— at work and in all of our daily lives.” Karen Corley | Controller, Woolf Distributing Company Inc. Weathering the Storm: Captive Insurance as a Risk Management Solution for Manufacturers in a Turbulent Economy READ THE FULL ARTICLE Current Quarter Market Report DOWNLOAD THE 2023 Q4 REPORT Ready to learn more about our Captive Solutions? VIEW OUR CAPTIVE BROCHURE Unlock the Strategic Benefits of Captive Insurance Predictable Costs Less Market Volatility Control Over Claims Lower Premiums Tailored Coverage Best-in-Class Peer Engagement Return of Underwriting Profits Company Specific Loss Control Is a Group Captive Right for You? Tired of paying too much for your insurance? Want more control over claims handling? Want to join growth-focused peers? Need more proactive safety support? Ready to invest in yourself for premium returns? CONTACT OUR CAPTIVE EXPERTS TODAY! Captive Insight & Impact Articles Nuclear Verdicts and Their Impact on Captive Insurance As we navigate the increasingly litigious landscape of risk management, we'd like to highlight trends related to nuclear verdicts and... Articles Construction in a Crush: Why Captives Are the Lifeline You Need Discover why construction companies are turning to captives for a lifeline in the turbulent insurance market. Articles Debunking the Top Four Myths of Captive Insurance From misconceptions to realities, discover how member-owned group captives benefit best-in-class companies. VIEW MORE Manufacturing Captive Contact our Manufacturing Captive Experts Today!

  • Food & Agribusiness Captive | Cottingham & Butler

    Food & Agribusiness Captive Cottingham & Butler Captives & Programs deliver alternative risk solutions for best-in-class companies. CONNECT WITH OUR TEAM Grounded in risk-reward principles, our group captive model draws the attention of prominent food and agribusiness businesses. By offering guidance in re-shaping their insurance strategies, we empower best-in-class companies to take charge of their programs, cultivate safer work environments, and drive down costs. FA Captive Testimonial Being a member of the captive has resulted in exactly what we were aiming to do, which is lower our overall cost of insurance. However, and more important to the long-term intrinsic value our business, being a member of the captive has manifested into creating a culture of maniacal focus on safety management, risk awareness and documentation, and continuous training. Evan Hayes | CFO, Fremont Farms Securing Your Future With Our Experience With substantial experience supporting alternative risk solutions, you can count on Cottingham & Butler’s rich experience, expertise, and innovative captive solutions. Acres Insurance Limited is a member owned group captive that was founded to serve the unique needs of food and agriculture companies, including growers, producers, processors, and distributors of food-related products. Our primary mission is to provide these businesses with cost-effective insurance coverage and to actively engage as a valued partner in their comprehensive risk management endeavors. Establishing and Managing Industry Leading Captives Since 1992 Is Captive Insurance a Viable Risk Tool for the Food & Agribusiness Industry? READ THE FULL ARTICLE Current Quarter Market Report DOWNLOAD THE 2023 Q4 REPORT Ready to learn more about our Captive Solutions? VIEW OUR CAPTIVE BROCHURE Unlock the Strategic Benefits of Captive Insurance Predictable Costs Less Market Volatility Control Over Claims Lower Premiums Tailored Coverage Best-in-Class Peer Engagement Return of Underwriting Profits Company Specific Loss Control Is a Group Captive Right for You? Tired of paying too much for your insurance? Want more control over claims handling? Want to join growth-focused peers? Need more proactive safety support? Ready to invest in yourself for premium returns? CONTACT OUR CAPTIVE EXPERTS TODAY! Captive Insight & Impact Articles Nuclear Verdicts and Their Impact on Captive Insurance As we navigate the increasingly litigious landscape of risk management, we'd like to highlight trends related to nuclear verdicts and... Articles Construction in a Crush: Why Captives Are the Lifeline You Need Discover why construction companies are turning to captives for a lifeline in the turbulent insurance market. Articles Debunking the Top Four Myths of Captive Insurance From misconceptions to realities, discover how member-owned group captives benefit best-in-class companies. VIEW MORE Food & Agribusiness Captive Contact our Food and Agribusiness Captive Experts Today!

  • Construction Captive | Cottingham & Butler

    Construction Captive Cottingham & Butler Captives & Programs deliver alternative risk solutions for best-in-class companies. CONNECT WITH OUR TEAM Joining our Construction Captive means collaborating with like-minded best-in-class companies. Together, you'll gain control over your insurance programs and unlock the potential for substantial cultural and financial improvements. Building a Better Future At Cottingham & Butler, our unwavering commitment revolves around building tightly controlled captives with a carefully curated selection of members. Our primary aim is to ensure that all members share common insurance goals and strategies, creating a solid foundation for success. Standard Market For best-in-class businesses, traditional insurance has historically been the go-to-choice for managing risk. However, it often comes with costly challenges. Fluctuating insurance costs regardless of claims experience Market volatility beyond your control Limited influence over claims management The stress of last-minute renewals Insurance carrier retains profits Captive Program A group captive brings together best-in-class companies who join to form their own insurance company. The captive is controlled by its owners, enabling companies to break free from the standard market. Request a FREE personalized captive comparison Construction Captive Testimonials “With the assistance and guidance of the Cottingham & Butler safety team, we have enhanced our overall company safety program by improving our ability to document, follow up, and trend for the future. We have seen a shift from being reactive to proactive.” Jacob Gilmore, Jr. | President & CEO, Gilmore Construction Corporation Construction in a Crush: Why Captives Are the Lifeline You Need READ THE FULL ARTICLE Current Quarter Market Report DOWNLOAD THE 2023 Q4 REPORT Ready to learn more about our Captive Solutions? VIEW OUR CAPTIVE BROCHURE Unlock the Strategic Benefits of Captive Insurance Predictable Costs Less Market Volatility Control Over Claims Lower Premiums Tailored Coverage Best-in-Class Peer Engagement Return of Underwriting Profits Company Specific Loss Control Is a Group Captive Right for You? Tired of paying too much for your insurance? Want more control over claims handling? Want to join growth-focused peers? Need more proactive safety support? Ready to invest in yourself for premium returns? CONTACT OUR CAPTIVE EXPERTS TODAY! Captive Insight & Impact Articles Nuclear Verdicts and Their Impact on Captive Insurance As we navigate the increasingly litigious landscape of risk management, we'd like to highlight trends related to nuclear verdicts and... Articles Construction in a Crush: Why Captives Are the Lifeline You Need Discover why construction companies are turning to captives for a lifeline in the turbulent insurance market. Articles Debunking the Top Four Myths of Captive Insurance From misconceptions to realities, discover how member-owned group captives benefit best-in-class companies. VIEW MORE Construction Captive Contact our Construction Captive Experts Today!

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