BevCap Management Forms Onshore Captive Domiciled in North Carolina
BevCap Management, LLC (BevCap), an alternative risk program manager with captives domiciled both on and offshore, has formed HatterasRe, LTD, an onshore domiciled captive insurer for BevCap Health’s proprietary Medical Stop Loss program.
The new captive will be domiciled in North Carolina.
According to Lance Abbott, president of BevCap Management, the team at BevCap will work with HatterasRe on both its existing Medical Stop Loss program, as well as other bespoke captive programs for clients, programs, and agency partners.
BevCap Management is the program manager for numerous companies nationally. Headquartered in McKinney, Texas, BevCap Management is a multi-line insurance program manager with a focus in alternative risk structures. It focuses on many lines of business including commercial auto, workers’ compensation, general liability, employee benefits.
North Carolina Insurance Commissioner Mike Causey welcomed the new captive saying he is “confident HatterasRe will experience tremendous success as they operate within our state’s strong, healthy captive insurance environment.”
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