It’s no secret that the U.S. economy is increasingly based on intellectual capital. This means the cost of defending one’s IP rights should be at the forefront of any business with intangible assets.
According to the 2015 Economic Survey conducted for the American Intellectual Property Association, the median cost of litigation is high.
While there are commercial policies available for this exposure, a captive provides the best option for several reasons:
1.) A custom insurance policy: an insurance policy provided by the insurer isn’t written to the insured’s advantage. In contrast, a captive allows the insured complete control over contract language, insuring coverage.
2.) Complete control of litigation: having a captive allows the insured to chose the counsel best suited to the case.
3.) Fewer problems with claims: while captive adhere to insurance industry standards regarding the claims process, the ability to control the claims process allows the insured more control.
If you would like to know about Captive Insurance, Join Hale Stewart for a webinar.
Date: May 4
Time: 12:00 Eastern/ 9:00 Pacific
Event Description:
A captive insurance company offers the potential insured a number of benefits, which include:
1.) Filling gaps in current insurance coverage
2.) Giving the insured the ability to control the claims process
3.) Giving the insured the ability to write their own insurance contracts
4.) Providing a degree of asset protection
5.) Creating another corporate profit center
6.) Giving the client a degree of tax mitigation
This presentation will provide the CFP professional with 1-hour of CLE credit. There will be a 20-question test at the end of the program; the attendees must score above a 70 to obtain full credit.
The presentation will be given by F. Hale Stewart of The Law Office of Hale Stewart. He is also co-author of the leading legal text in the area of captive insurance, titled U.S. Captive Insurance Law.
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