From: Captive Review
Sedgwick captive owner David Arick says captives are increasingly delivering enterprise value by improving governance, risk insight and operational decision-making across organisations
Captive insurance companies are increasingly being used as enterprise risk platforms rather than simply risk financing vehicles, according to David Arick, managing director of global risk management at Sedgwick.
Arick, who formed Sedgwick’s captive last year and manages it for the firm’s own risks, was speaking to Captive Review ahead of his panel at the annual CICA conference titled ‘How captives drive enterprise value.’
In his role he oversees the firm’s captive insurance strategy, the property/casualty insurance portfolio, business continuity, physical security, and colleague health & safety.
His career has spanned more than three decades working with a wide range of risk financing structures, including protected cells, group captives and wholly owned multi-line insurance and reinsurance companies.
But now he recognised that several structural shifts in the market are driving a broader role for captives within organisations, with several developments enabling captives to expand beyond their traditional role as risk financing tools.
