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Types of Services
Total Captive Solutions offers a variety of services, depending on the individual needs of each client, including but not limited to the following:
Comprehensive Compliance Consulting
Maintaining in effect the certificate of authority issued to the client by the Commissioner of Insurance of the State of "Domicile" ("Commissioner") and, in connection therewith, filing with the Commissioner on behalf of the client all reports, agreements and other documents that the Commissioner may request.
Financial Reporting
Maintaining the accounting books and records of the client including accounts receivable and payable, preparing the annual and quarterly financial statements of the client, and arranging for the audit of the financial statements of the client by independent certified public accountants annually or more often if required by the Commissioner.
Premium Tax Preparation
Advising clients on amounts owed for both state and municipal premium taxes, preparing documentation and completing forms.
Supplemental Report Preparation
Preparing any and all necessary reports furnished to the client.
Claims Administration
Investigating and reviewing all claims received by the client, monitoring of all claim activity, preparing claims reports, assisting with reserve calculations and estimates.
Risk Management (malpractice)
On site risk management surveys for each physician insured by the company. Web based risk management courses. Access to Medical Director assigned to each company.
Maintenance of Corporate Documents
Providing all clerical, secretarial and administrative support, including equipment and supplies required by the client, and giving notices of and keeping minutes of all meetings of the client's Board of Directors/stockholders/members, etc.
Premium Collection
Receiving premiums paid by the insured's of the client, depositing into accounts an amount sufficient to pay claims, allocated claims expense, reinsurance or excess insurance and administrative expenses, holding such funds collected for each client in a fiduciary capacity in a bank which is a member of the Federal Reserve System.
Policy Issuance
Providing assistance to the client in development of appropriate insurance policies, advising client of policy modifications as necessary, directly issuing policies to insured's on behalf of the client.
Investing
Administering and investing funds in accordance with state and federal law and criteria established by the client and investment manager under contract to the captive.
Risk Management/Loss Control Services (Administrative)
Providing loss prevention and risk management services as further described below and assisting with risk management surveys.
Captive Formation
Assisting clients with the licensure of medical malpractice captive insurance companies.
Books and Records
Maintaining separate records in accordance with applicable insurance laws and Department of Insurance regulations for each client. This allows each client access to and right to copy all accounts and records related to its business, providing access to the Commissioner to all books, bank accounts, and records of the client in a form usable to the Commissioner.
General Administration
In general, directing the day-to-day operations of the client to ensure that the operations are conducted in a sound and businesslike manner.