UPCOMING BOARD MEETING
March 25th - 28th, 2020
OUR MISSION IS TO PROVIDE THE
HIGHEST QUALITY INSURANCE
PROTECTION AND SERVICES FOR ITS
NON-RELATED SHAREHOLDERS IN CONSTRUCTION, GENERAL CONTRACTING AND RELATED BUSINESSES.
REDUCE TOTAL COST OF RISK
Membership in a captive requires a significant commitment to risk management. Rather than a conventional insurance company profiting from the member’s superior financial condition and risk management programs and using those profits to subsidize the premiums of other less attractive companies, members of the captive can reduce their cost of risk when losses are less than projected.
Having members included in the claims process yields a much
better result than dictating claim outcomes.
STABILITY OF THE PRICING CYCLE
With the group captive's buying power, there is less exposure to market pricing, so the captive avoids the disruptive underwriting cycles in the traditional marketplace.
CLICK HERE TO VIEW OUR 2016 CSIL ANNUAL REPORT
Construction Specialty Insurance Limited (CSIL) was created in 2008 to enable construction, general contracting and related businesses to obtain adequate insurance coverage at affordable rates. The founders of CSIL perceived that the commercial insurance industry was not responsive to this basic commercial necessity.
The Cayman Islands were selected as the domicile because of the offshore, on-island services available. The close proximity to the United States, English law, and a stable political setting were also factors.
CSIL believes that its management strength lies in its strong individual involvement by shareholders during semi-annual board meetings. It is anticipated that Committees will be established in the following areas to support the Board of Directors: Underwriting, Risk Control, Finance and Nominating. The Board will rely on the recommendations of these Committees to establish policies. Day-to-day management of CSIL will be provided by the captive’s licensed off-shore Insurance Manager. New shareholders will be recommended through the Underwriting Committee, once appointed. The Company desires participation by well-managed, profitable companies whose management philosophies and personalities are compatible with those of the other shareholders.
From the beginning, CSIL has focused on one thought: insurance is a manageable cost. The mystique and mystery of the insurance industry should be unveiled. Shareholders should be in control of their insurance destinies and not dictated to by the insurance industry.