A homogenous group captive is a type of group captive insurance that involves multiple companies from the same industry. Group captive insurance is a form of self-insurance where a group of companies form and own their own insurance company to cover certain risks. By joining a homogenous group captive, the companies can benefit from having similar insurance and risk management needs and concerns. They can also customize their coverage and loss prevention programs to fit their specific industry.
Example:
• Some examples of industries that often participate in homogenous group captives are general contracting and construction, trucking/ transportation, roofing, agri-business, oil and gas, and temporary employment agencies.