Schaumburg, Ill. (May 23, 2018) – Assurance, a Top 50 U.S. insurance brokerage, is expanding its Alternative Risk practice. Assurance’s Alternative Risk team is charged with determining the most efficient way to finance risk and pay for losses, which includes the creation and program administration of captives, risk retention groups and self-insured trusts. The customized solutions and industry expertise allows for greater control, stability and investment opportunity with clients’ insurance programs.
The Alternative Risk practice recently added Adam Miholic, Director of Alternative Risk. His areas of expertise include captive structures, such as pure captives, 831(b)/small captives, group captives, cell captives, risk retention groups and self-insured groups. His main responsibility is to help clients make informed decisions based upon their risk tolerance and purchasing preferences with an end goal of lowering total cost of risk.
Adam oversees the management and growth of Assurance’s current alternative risk programs, including:
- Urgent Care Assurance Company, RRG (UCAC) — a risk retention group owned by urgent care professionals and managed by insurance and risk management experts for medical malpractice insurance.
- AssureCap Advantage — a captive insurance program designed to meet the professional liability challenges faced by the senior living industry.
- Risk Management Association (RMA) — a self-insured workers’ compensation trust for Illinois contractors qualifying as best-in-class for risk management and financial strength.
Prior to Assurance, Adam was an Assistant Vice President in the captive solutions division of one of the largest global insurance brokerages. In this role, he started two new captives, providing stronger coverage and more flexibility on both a local and national level. He is a current member of the Captive Insurance Companies Association (CICA).
“We’ve placed over 100 clients in captives, risk retention groups and self-insured groups and look forward to our continued growth and success in offering alternative insurance solutions,” said Michael Alberico, Senior Vice President and Alternative Risk and Construction Practice Leader.
Assurance is among the largest and most awarded independent insurance brokerages in the United States. A “Top 50” independent broker and repeated “Best Place to Work” winner, Assurance places coverage for all lines of business and personal insurance, employee benefits and retirement services. Visit Assurance at www.assuranceagency.com.