Press Release

IRMI Offers New Book to Help Manage Captives Successfully

Dallas, TX, March 2, 2006—In recent years, many risk and insurance professionals have set up captive insurance programs or participated in existing captives to finance their workers compensation, liability, or other risks. Now, more than ever, it’s important to understand the accepted practices and procedures that support a captive’s ability to achieve its mission and purpose. Dallas-based International Risk Management Institute, Inc. (IRMI), is pleased to announce the release of, Captive Practices and Procedures, a new book that provides insight into captive insurance implementation and management best practices.

Captive Practices and Procedures shows the reader how to establish a captive that sets the standard and withstands the of time. This important 204-page book identifies performance analyses that can reinforce stakeholder satisfaction, explains how to use the components of a feasibility study to develop a strategic business plan, and discusses how to turn regulatory compliance from a negative into a positive.

The author, Kathryn A. Westover, is well known for her knowledge and management of captives. She is a graduate of Oxford University, England, and has more than 20 years’ experience specializing in alternative risk transfer programs. Ms. Westover is vice president of Innovative Captive Strategies, a captive consulting and management firm, and has served as an adviser to the Washington, D.C., Department of Insurance and Securities and is the Barbados International Business Representative. Jack Gibson, president of IRMI, said, "It is one thing to set up a captive and quite another to make it succeed in its mission. Ms. Westover’s new book gives captive owners and participants a nuts and bolts look at the practices that have made some of the most successful captives into the winning risk management vehicles they are. The book is a must read for anyone who owns or works with captives."

Captive Practices and Procedures is available through IRMI by calling 800-827-4242 (in Dallas 972-960-7693) or by visiting www.IRMI.com and clicking on "Products and Services." The price of the book in print is $62.