The Due Diligence Project™ Podcast
The Due Diligence Project™ is a unique, global community of 500+ elite, independent CPA Firms and Family Offices that vet, rank, and rate hundreds of sophisticated tax strategies and resources to identify the highest ROI solutions net of cost and risk.
The Due Diligence Project™ Podcast
002: The Benefits of Setting Up A Captive Insurance Company - Wesley Sierk
Wesley Sierk is the President and Lead Strategist for Risk Management Advisors, Inc, and a Board Member of The Due Diligence Project™.
Wesley is an expert in captive insurance design, implementation and management. He is a frequent speaker to industry associations as well as law and CPA firms on asset protection and how ordinary businesses can escape the hard/soft market of insurance by creating their own closely-held insurance companies.
He is the author of Taken Captive: The secret to capturing your piece of America’s multi-million dollar insurance industry.
In this interview we discuss:
- What is a captive insurance company?
- Why form a captive?
- What are the risks associated with forming and operating a captive?
- How Warren Buffet rates owning insurance companies amongst his other investments
- How Wesley’s clients’ range from boat builders, to energy drink companies, to a collection of 14 high end plastic surgeons, to a variety of manufacturing companies.
- How all of his captive clients are doing a minimum of $10 million dollars of revenue, an average of $50 million, and even a couple of clients in excess of $1billion in revenue
- The reason why traditional health insurance companies are not run as efficiently as the could be, and how setting up a captive insurance company can change this
Connect with Wesley Sierk at: