Atlas strives to provide the broadest possible range of captive management services for all types and sizes of captives.
In addition to general management, policy drafting and pricing, Atlas provides risk management reviews, financial reporting services, corporate secretarial and regulatory compliance services for captive insurance companies.
General Management
• Maintain on behalf of client a principal office in the domicile of choice
• Assist with all matters related to preparation for meetings of the Board
• Attend all meetings of Board of Directors, shareholders and committee meetings, as well as all other strategic meetings deemed appropriate
• Appoint employees of Atlas to serve as officers and/or directors as needed
• Coordinate the provision of other services required in the conduct of the business, such as services provided by auditors, actuarial analysts, legal and tax advisors, investment managers and insurance consultants
• Service the account in accordance with the standards to be agreed with the client, including timely availability of key personnel, prompt and thorough response and accurate ongoing advice regarding the captive insurance industry
Risk Management Reviews
• Thoroughly review existing insurance programs with clients and their advisors, recommending cost-saving program restructuring and identifying uninsured risks.
• Work with actuaries to accurately price these risks and with specialists to draft policies. Examples of uninsured risks can include reputational damage, keyman, loss of income, EPL, cyber risks, mold and regulatory risk.
Financial Reporting
• Prepare and maintain accounting records in accordance with Generally Accepted Accounting Principles, International Financial Reporting Standards and/or the requirements of the domicile’s insurance laws and regulations
• Prepare and maintain quarterly statements and management accounts, as required by each captive. The package of management accounting information will be designed to meet the needs of the client.
• Assist the Board with the preparation of an annual general and administrative expense budget
• Prepare and file premium tax and filing fee returns, if required
• Under the specific directions of the captive’s officers or appointees, maintain bank accounts, handle cash receipts and disbursements, and perform other such cash handling functions as may be required by the captive but not including investment management, discretionary investment services or trust services
• Prepare and coordinate annual audit by the appointed auditors
Corporate Secretarial
• Prepare all minutes of directors and shareholders meeting, maintain corporate registers and attend to all filings required by the government of the domicile
Regulatory Compliance
• Maintain close relations with the regulatory department of the domicile
• Prepare and file all reports required under applicable insurance law
• Prepare and maintain documentation and records required by the domicile
• Represent the captive during regulatory examinations by the insurance departments and/or any applicable regulatory authorities
• Respond to all inquiries and correspondence from regulatory authorities after prompt notification to the client
