KNOXVILLE, Tenn. – November 2, 2021 – 2020 proved to be a challenging year for many businesses as they navigated the fall out of the pandemic. As 2021 unfolded and COVID cases decreased, many experts felt this was the light at the end of the tunnel and an end to COVID woes. But unfortunately, that wasn’t the case. 2021 has had its own obstacles. Although businesses have been able to reopen and, in most cases, resume business as usual minus some concessions, businesses have still been plagued by supply chain…
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Captive Insurance Companies: New Money Saving Trends for Businesses
Officials from Helena, Montana, are reporting that an increasing number of businesses and organizations are forming their own insurance companies in an effort to manage costs. These impromptu coalitions are being called “captive” insurance companies. The specific objective of these companies is to finance or insure the risk of their parent groups. Steve Matthews of the State Auditor’s Office says that the trend is to keep insurance premium taxes from leaving the state. In 2010, Montana licensed 26 captive insurance companies, bringing the total number of such companies in the…
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