Capstone Celebrates 20-Year Anniversary
HOUSTON February 06, 2018
Capstone Associated Services, Ltd. is honored and pleased to announce its 20-year anniversary. Since 1998, Capstone has been the leading captive insurance service provider for middle market businesses in the United States. The Houston-based company continues to evolve with the dynamic captive insurance industry and the ongoing management needs of its clients.
Team Capstone has been recognized by industry peers, including captive-industry publication Captive Review with its Power 50 and Enterprise Risk Pioneers lists of top influencers.
Capstoneâ€™s CEO and General Counsel, Stewart A. Feldman commented, â€œWe are extremely proud of the fine work that Team Capstone has accomplished over the last 20 years, with operations led by its president, Charles Earls. From day one, Capstone has been at the forefront of the industry, having invented the turnkey approach to alternative risk/captive planning, all in recognition of the many moving pieces â€“ legal (tax, financing, corporate, and regulatory), underwriting, claims handling, accounting, and insurance policy design and manuscripting â€“ needed for a captiveâ€™s success. As Chuck Earls transitions Capstoneâ€™s presidency in 2018 to Jeff Carlson, Capstone is poised for another round of growth.â€�
â€œCapstone was the first to design a comprehensive turnkey solution in association with The Feldman Law Firm LLP that encompasses all the critical components of effective captive planning, including tax and legal representation,â€� commented Capstoneâ€™s President, Charles B. Earls. â€œOur effective administration of this comprehensive package has been a key reason for the solid record of long-term client relationships â€“ as illustrated by the fact that Capstone is still managing two of our first captive clients dating back to their formation twenty years ago.â€�
Explained Jeff Carlson, Capstoneâ€™s Head of Operations: â€œCaptives are property & casualty companies, established to insure, in large part, the risks of affiliated businesses. The federal tax code promotes insuredsâ€™ offloading risks to property & casualty insurers whose operations themselves are tax favored under the Internal Revenue Code. Regulation is through a stateâ€™s insurance commissioner, i.e. a captive domicile, with each domicile having its own set of rules, investment restrictions, and regulatory oversight.â€�
Capstone CEO Feldman summarized the Companyâ€™s history: â€œCapstone was launched in 1998 with a dedicated 4-person team in response to the demands of our clients for increased risk protection. The Company formed and operated captives for two manufacturers, a distributer, and a real estate developer. We began work in the small captive area with companies organized under Section 501(c)(15) of the Internal Revenue Code, then expanded to larger captives organized under Sections 831(a) and 831(b). Over the past 20 years, Capstone has been the lead in forming over 200 captive insurance companies across an array of industries encompassing healthcare, construction, distribution, service, defense, tech, hospitality, energy, trucking and agri-business, among others. Whichever the industry, our objective is to help our clients take their risk management and financial efficiency to the next level.
â€œTwenty years ago, the mid-market industry was in its infancy, with just a few participants. Incomplete and fragmented services were the norm and unfortunately are still seen in most parts of the industry. We continue to see many so-called â€œcaptive managersâ€� who donâ€™t have the necessary expertise to carry out the planning, consequently, leaving their clients in a bad position. Capstone sets itself apart by offering a broad range of the needed services with its industry-recognized, experienced professional team, addressing the heart of the planning.
â€œCaptive planning aligns with our background as corporate, financing and tax lawyers and our extraordinary team of technical professionals serves as Capstoneâ€™s foundation upon which weâ€™ve built our reputation. Capstoneâ€™s unmatched team of six Chartered Property & Casualty Underwriters (CPCUs) and Associates in Risk Management (ARMs) with over 130 years of combined experience have deep knowledge of coverage pricing, claims, and regulatory knowledge to support various businesses types in their captive planning initiatives. This insurance team is bolstered by ten lawyers, including those having substantial regulatory, tax, corporate and estate & trust experience, and the five members of our team who have passed the CPA examination.â€�
Capstone Associated Services, Ltd. serves clients throughout the U.S. from its Houston headquarters, and from its regional offices in Minneapolis, Pittsburgh, and Phoenix (offices as well in Wilmington, Delaware and The Valley, Anguilla, British West Indies). The Feldman Law Firm LLP is Houston-based.
Capstone Associated Services, Ltd. is the most integrated and comprehensive outsourced provider of captive insurance services for the middle market. We are among the largest in the industry offering stand-alone, single parent captives as well as cell captive arrangements. In cooperation with The Feldman Law Firm LLP, Capstone administers property & casualty insurance companies that provide alternative risk financing services throughout the U.S. Now in its 20th year, Capstone provides turnkey services usually under a joint engagement with its affiliated law firm to manufacturers, distributors, service providers, and professional organizations.
Capstone's own staff of insurance professionals includes Chartered Property & Casualty Underwriters, Associates in Risk Management, claims managers, underwriters, accountants and administrators, in addition to The Feldman Law Firm LLP's tax, corporate, financing and regulatory lawyers, which are bolstered by outside CPAs, risk managers, property & casualty professionals, and actuaries. On staff at Capstone are six CPCUs with more than 130 years of experience. Together, this team offers middle market companies the most comprehensive risk planning solution available. Today, captives are the premier risk management and risk-financing tool for qualified middle market companies.
To learn more about how alternative risk planning and captive insurance can protect your business from uninsured risks, please visit us at http://www.CapstoneAssociated.com or contact us at 800-500-3190.
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