Set Your Course
For businesses in today’s competitive marketplace, insurance is rarely considered a strategic advantage. The combination of sparse, limited coverage and unpredictable premiums leaves businesses with few options that deliver lasting value.
Raffles Insurance Limited (Raffles) was created to give quality businesses a better option for their commercial insurance needs, providing adequate insurance coverage at affordable rates for Workers’ Compensation, Automobile, and General Liability. For over 35 years, Raffles has been one of the largest heterogeneous group captives in the world, covering over 380 of the highest performing businesses in the United States with a total premium in excess of $300,000,000.
Leveraging decades of experience and innovation, Raffles has given hundreds of companies the control to transform their insurance from an expense to an asset, while removing the mystery and volatility of the traditional insurance market.
Raffles for Executives
Raffles is set apart from other insurance programs in that you are not buying a policy; you are taking part in owning an insurance company. With this ownership comes an array of benefits for the betterment of your company’s culture and financial outlook.
Learn MoreRaffles for Financial Managers & Directors
In the traditional insurance market, companies are forced to weather unpredictable fluctuations in their industry’s insurance premiums. Raffles partners can leverage the stabilization of premiums and the improved management of risk through effective loss control.
Learn MoreImprove Workplace Safety
Raffles partner companies are bonded by a shared commitment to the safety of their employees and loss control. Members are given actionable steps and proven recommendations for improving business practices with safety in mind.
Learn MoreFinancial Benefits
By joining together to create true sharing of risk, shareholders are able to not only lower premium costs, but collectively may generate opportunities for dividends. This financial advantage, coupled with extensive coaching on loss control, helps to translate to safer employees and fewer claims.
Learn MoreCollaborative Culture
One of Raffles’ differentiating factors is the active participation of its shareholders in the success and direction of the Company. This collective input and shared interest creates a constructive network of business leaders eager to improve their own companies and contribute to the success of their fellow partners.
Learn MoreDo I Qualify?
Raffles partners are nationally recognized as leaders in their industries, adhering to the highest standards of business excellence. We select organizations on the basis of managerial commitment to safety, financial stability, engagement with the program, and a minimum casualty premium.
Learn MoreMembership Overview
Partner Profile
Raffles partner companies are not merely purchasers of an insurance policy, but shareholders in an insurance company. As such, partners are invited to actively participate in the overall direction of the Company, including the collective reduction of claims through robust loss control. Due to the nature of shared risk and collective interest in the success of the Company, Raffles partners are selected on the basis of:
- Management’s Commitment to Safety
- Financial Strength
- Loss Experience Average or Better than Average for the Industry
- Alignment of Raffles Philosophy
- Minimum Casualty Premium of $150,000
Advantages of Captive Partnership
For many business leaders, the term “captive” rarely instills a positive response, and that response is even worse when they learn it’s related to commercial insurance. Despite the unfortunate name, a captive is an innovative and flexible insurance model designed to give businesses access to more comprehensive and responsive coverage with the potential for a lower premium cost.
In the traditional insurance market, insured companies are forced to pay their industry’s rates of premium–rates that are subject to the volatility of the market and outside of the insured’s control. Companies are forced to pay industry rate premiums regardless of loss control or claims management performance. If a company is safe, there is little reward. If it is not, there is little punishment.
Captive insurance differs from the traditional model in that captives essentially allow groups of unrelated companies to “self-insure” one another, creating a true sense of shared risk and transparency of where premium dollars are going. Raffles members hold each other accountable to strict safety and risk control standards, allowing the long-term reduction in premiums and claims despite the volatility of their own industries.
As one of the longest operating and leading captives in the world, Raffles has perfected the captive concept for the benefit of hundreds of companies, while also leveraging additional tax benefits through being managed and domiciled in the Cayman Islands. As a member of the Raffles captive, you will have greater control than ever before of your insurance costs, the safety of your employees, and the course of your organization.