UPCOMING BOARD MEETING
June 21-24, 2020
OUR MISSION IS TO PROVIDE THE HIGHEST QUALITY INSURANCE PROTECTION AND SERVICES FOR ITS NON-RELATED SHAREHOLDERS IN THE TRUCKING BUSINESS.
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.
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171 Elgin Avenue, PO Box 10233
Willow House, Cricket Square, GeorgeTown
Grand Cayman KY1-1002, Cayman Islands
Specialized Transportation Insurance Limited (STIL) was created in 2009 for trucking related companies to obtain adequate insurance coverage at affordable rates and to be treated as a partner in the overall risk management process. The founders of STIL 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.
STIL 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 and that the Board will rely on the recommendations of these Committees to establish policies. Day-to-day management will be provided by STIL’s licensed off-shore Insurance Manager. New shareholders will be recommended through the New Member Committee and the Executive Committee, which has already been established.