Press Release

New Second Edition of Captive Practices and Procedures Book Provides More Insight into Captive Insurance Best Practices

Dallas, TX, January 25, 2012—International Risk Management Institute, Inc. (IRMI), is pleased to announce a new second edition of Captive Practices and Procedures, which helps risk professionals confidently answer the question, "Is your captive meeting your (or your client's) business objectives?" This authoritative 240-page book explains how captive insurance is used and outlines the decisions and actions that must be made to structure and operate a captive insurance program that withstands market cycles.

The author, Kathryn A. Westover, has set up and managed more than 50 successful 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 is the Executive Director of the Community Blood Centers Exchange RRG. She has served as an adviser to the Washington, D.C., Department of Insurance and Securities and was the Barbados International Business Representative.

Jack Gibson, president and CEO 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 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 now available in print format for $74 and, for IRMI Online access, $37 for individuals or $74 for small businesses.