The following table describes the distinctions between the standard insurance market and captive insurance.
Formed in July 2007, General Contractors Insurance, Ltd. (GCI) is a member-owned group captive aimed at the insurance needs of commercial general contractors. General Contractors Insurance, Ltd.’s objective is to provide its members long term control of their insurance destiny by limiting the adverse effects of the cyclicality of the insurance industry on their business.
Through active participation of its shareholders, General Contractors Insurance, Ltd. (GCI) endeavors to provide the long term stability of a well-managed insurance company. Through GCI, shareholders have indeed been empowered to take control of their insurance destiny.
The Company’s management strength lies in a strong committee structure and individual involvement of all directors. Presently, the committees and their primary responsibilities are: