By Mary Sams, Senior Analysis Analyst, Triple-I
Impression Re Ltd. – a member-owned captive fronted by Zurich North America – brings collectively firms from a wide range of industries that share an curiosity in each threat administration and sustainable enterprise practices.
The captive is a partnership between Zurich North America and Innovative Captive Strategies (ICS). Along with being one of many largest suppliers of business insurance coverage services in the US and Canada, Zurich North America is a part of world insurer Zurich Insurance coverage — an organization well known for its dedication to sustainability.
Group captives allow firms with related threat profiles to scale back their insurance coverage prices by pooling threat and simplifying threat administration. Typical buildings embody committees managing threat management, finance, and underwriting. Impression Re provides a sustainability committee and can provide members better management and administration of auto, common legal responsibility, and staff compensation applications, in addition to offering entry to administration companies centered on sustainability from Zurich Resilience Solutions (ZRS).
ZRS will conduct a sustainability evaluation of the member firm’s carbon footprint and vitality consumption. The evaluation will not be designed to exclude non-conforming firms from membership however to offer baseline knowledge towards which members can measure their progress towards their very own sustainability targets. The target is to quantify the enterprise advantages of sustainability and talk these advantages to stakeholders.
Impression Re is among the many winners introduced within the Business Insurance 2023 Innovation Awards.
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