National Contractors Insurance

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Our History

National Contractors Insurance Ltd. (NCI) was formed in 1997 when a group of business owners, frustrated by an unresponsive commercial insurance market, partnered with Captive Resources, LLC to create a more customized and affordable alternative. Their aim was to increase buying power, share risk with peers, and secure the kind of control typically reserved for the largest companies. With active shareholder governance, disciplined loss control, and top-tier service partners, NCI has grown into a world-class captive with a documented financial and underwriting track record. Members gain confidence that premiums are appropriate, strong performance is rewarded, and each company has real control over its insurance future.

Performance

As of February 28, 2025

Gross Earned Premium

Shows the total premium written into the captive each year, reflecting the overall size and growth of the program over time.

Number of Shareholders

Highlights how many companies participate in the captive each year, illustrating growth, stability, and the strength of the member community. Figures include both active and inactive members.

309

Incurred Loss Ratio

Compares the captive’s losses to the premium collected each year, providing a key measure of claims performance and overall program health. Each bar is specific to that policy year and does not represent total captive results across all open years.

29%

Performance

As of February 28, 2025

2/3

Select Charts

Gross Earned Premium

Shows the total premium written into the captive each year, reflecting the overall size and growth of the program over time.

Shareholders

Highlights how many companies participate in the captive each year, illustrating growth, stability, and the strength of the member community.
Figures include both active and inactive members
309

Investment Income

Tracks the income earned from investing captive assets, which can help support long-term financial strength and enhance member returns.

23 M

Distributions

Shows the dollars returned to members over time, demonstrating how strong performance can translate into distributions back to participating companies.

$20 M

Incurred Loss Ratio

Compares the captive’s losses to the premium collected each year, providing a key measure of claims performance and overall program health. Each bar is specific to that policy year and does not represent total captive results across all open years.

29%

Becoming a member of NCI means taking an active, controlling role in a company’s insurance future. This shift in responsibility is precisely how members achieve long-term stability and financial rewards.


The Legal Structure: Control and Security

NCI is licensed and managed in the Cayman Islands, serving to reinsure risks from our U.S.-licensed policy issuing carrier. This proven structure provides the necessary security and financial efficiency for the core lines of coverage: Workers’ Compensation, General Liability, Automobile Liability and Physical Damage. The company gains the control of a global structure backed by the security of a recognized U.S. carrier.

Each shareholder is entitled to appoint a Director to the NCI Board. This ensures direct representation and shared control:

  • Equal Vote, Shared Power: Every shareholder holds one equal vote, regardless of premium size. A simple majority governs, ensuring that the captive is managed in the best interest of all members.
  • Active Participation: Primary responsibilities include actively controlling losses and participating in Board meetings and Risk & Claims workshops.
  • Growing the Equity: Members are encouraged to use their expertise to educate other high-quality businesses about the benefits of the captive concept, helping to maintain and enhance the group’s financial strength.

 

NCI management strength lies in its strong committee structure and the frequent, individual involvement of all Directors. This is how owners exercise control over the captive’s operations and strategic future.

Executive: Develops and steers the long-range plans and strategic direction for the company.

Finance: Reviews all financial statements, ensures member financial compliance, and advises the Board on the investment policies for the company’s assets.

Underwriting: Advises the Board on acceptable risks and annual renewals, ensuring that all risks assumed are adequately underwritten to protect the group’s financial stability.

Risk Control: Sets loss control goals, reviews performance reports, and actively works with members to achieve the required safety and claims management targets.

Long Range Planning: Dedicated to developing and formalizing future plans for the company based on ongoing strategic analysis.

Nominating: Recommends future officers and committee chairpersons to the Board for two-year terms, ensuring strong, continuous leadership.

Premiums Built For Individuals, Not The Market

One-size-fits-all pricing is out. In NCI, each member company’s annual premium is actuarially tailored to actual results and commitment to safety.

This is not a market rate. It is a performance rate. Premium dollars retain predictable, company-specific risk, while catastrophic events are shared across the group. The model encourages accountability, rewards disciplined management, and makes long-term insurance costs more predictable.

Criteria

Because each member of National Contractors Insurance Ltd. is an owner, the following criteria has been established to ensure the quality of membership and long-term strength of the Company:

  • Management Commitment to Safety
  • Financially Strong Company
  • Loss Experience Better than Average for Industry Group
  • Regular Attendance and Participation in Board Meetings
  • Business Philosophy Compatible with National Contractors Insurance Ltd.
  • One-time Cash Contribution to Capitalization of $25,000
  • Minimum Annual Casualty Premium of $500,000
  • Regular Attendance and Participation in Risk Control Workshops

We empower members to be proactive. Each member receives dedicated funds to engage a loss control consultant who acts as a trusted partner, focused solely on preventative strategies to reduce risk exposure and improve long-term performance.

Claims Management with Clarity
While the Third-Party Administrator (TPA) handles claims and has that authority, the company maintains oversight. Partner with our dedicated third-party claims administrator, leveraging leading technology and customized handling instructions that reflect company service expectations and ensure clear visibility and input throughout the process.

Twice a year, NCI hosts intensive Risk Control Workshops focused specifically on advanced claims management and loss prevention strategies. These customized, unique events allow members to network with fellow owners and leverage collective expertise to refine risk strategies.

Stay ahead of emerging risk trends. As a NCI member, organizations receive complimentary access to monthly webinars, concise one-hour sessions designed to deliver practical, actionable insights on safety, claims, and risk issues directly to internal teams.

Access a powerful, web-based service filled with tools to bolster the entire risk program. This centralized Risk Platform provides an abundance of resources, from comprehensive safety training modules to up-to-date guidance on employment practices.

The secure Member Portal is a single point of access for all essential captive information. Members can review key documents like annual financial reports, access board meeting summaries, join member-only forum discussions, and retrieve the library of risk control and webinar recordings.

NCI is supported by a trusted network of experienced service providers who play an important role in the captive’s operations, oversight, and long-term success.

Insurance Consultant:
Captive Resources,
LLC

Claims Administration:
Zurich North America

Credit Banks:
UBS, Barclays Investment Bank

Policy Issuance:
Zurich North America

Loss Control Consultant:
Various Regional Construction Consultants

Operating Bank: 

Scotiabank & Trust (Cayman) Ltd.

Reinsurer: 

Zurich North America

Insurance Manager:
Kensington Management Group

Actuary:
Edgewater Actuarial Insights, LLC

Servicing Insurance Brokers:
Various Regional Construction Brokers

Auditor:
PricewaterhouseCoopers LLP

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Benefits of Joining NCI

The Ownership Advantage

NCI members share a common goal: protecting their people and their businesses. NCI empowers sophisticated business leaders with unmatched control and the opportunity to turn a commitment to business excellence into a financial asset. The model is built on three core pillars: financial stability, a rewarding safety culture, and peer-to-peer trust.

In NCI, an investment in workplace safety is directly rewarded. Members are bonded by a shared commitment to minimal losses and are provided with actionable steps and proven recommendations to elevate their safety culture. This focus on loss control translates into fewer claims and a safer workforce, which is the necessary foundation for long-term financial stability within the captive. The selection process is stringent. NCI partners only with industry leaders who demonstrate managerial commitment to safety and financial stability. This selective, transparent process ensures a foundation of trust that protects every owner’s investment and upholds the group’s financial strength.

NCI transforms insurance premiums into a source of stability and equity. The concept is simple: by joining a captive for a true sharing of risk, owners earn the financial rewards previously retained by traditional carriers. Member success is NCI’s success. This collective strength allows members to achieve long-term premium stabilization and the opportunity to generate dividends, which are a direct return of underwriting profit to members. This financial advantage, coupled with expert risk coaching, makes a disciplined approach to risk a clear profit center.

A key differentiator of NCI is the active participation and collective input of its shareholders. This is not a passive investment. It is an executive-level peer network where shareholders actively govern the company. This shared interest creates a constructive network of national business leaders eager to improve their own companies while contributing to the overall success and direction of the group. Collective input shapes the company’s future, ensuring the captive always operates in the best interest of the membership.

For Executives

NCI empowers business leaders to turn insurance into a strategic advantage, giving them control over costs, culture, and outcomes while connecting them with a powerful network of like-minded executives.
Control Corporate Destiny
Leaders navigate complex challenges, balancing ambitious financial milestones with the critical task of leading organizational culture. NCI was founded by business owners who wanted more control over costs and outcomes. That same entrepreneurial spirit drives NCI today, empowering member companies to set the strategic course for their risk management future.
In the traditional market, excellent claims performance rarely translates into financial benefits. The annual premium is often a sunk, fixed cost with little control over the rate.

With NCI, that dynamic fundamentally changes. The premium becomes a strategic spend and not simply an expense. Member companies have the opportunity to earn dividends that directly reflect superior loss performance and the collective success of the group. This model works: since inception, NCI has returned over $236 million in dividends to its members, proving that excellent risk management pays tangible financial rewards.

Every effective CEO understands that culture is king for team performance.A strong safety culture is perhaps the most critical component, ensuring employees return home safely and minimizing business disruption. Upon joining the NCI community, members benefit from the collective experience and insight of other successful leaders. Access includes direct safety coaching and proven strategies from fellow executives on cultivating a culture of safety and implementing safer, more efficient operations.

As a NCI member, organizations are not just buying insurance; they are joining over 287 elite companies united in a commitment to controlling costs, improving safety, and growing the group’s financial strength. Members frequently cite this deep sense of camaraderie as a key benefit, often leading to valuable new business opportunities and extensive, practical peer-to-peer business training that goes far beyond insurance.

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For Financial Managers And Directors

NCI gives financial leaders greater control, predictability, and return on their insurance spend, transforming premiums into an investment that delivers stability, savings, and measurable ROI.

Stability, ROI, and Control
Finance directors and CFOs know an insurance program’s financial implications extend far beyond the initial premium. Leaders must assess long-term cost trends, volatility, and how claims activity impacts a company’s fiscal health. NCI was created by leaders to solve these exact challenges, transforming insurance from a volatile expense into a controllable, financially rewarding asset. For successful companies, NCI is a direct and valuable contributor to sustained financial success.

Traditional insurance markets rise and fall with industry trends, often ignoring a company’s actual performance. NCI replaces that uncertainty with stability. Members benefit from more predictable premiums that reflect their safety record and the group’s collective results, not external market swings. This consistency supports accurate, data-driven budgeting and long-term financial planning, helping finance teams project costs with confidence year after year.

NCI provides the tools and expertise to implement safer company-wide practices, turning operational improvements into measurable financial savings. Members receive guidance and coaching on creating robust cultures of safety, with specific strategies for risk reduction across a range of industries. By implementing these practices across the organization, members directly and proactively reduce claims costs, securing a lower financial outcome year after year.

In NCI, the premium does not disappear, it works for the company. By sharing risk and practicing proactive loss control, members transform insurance from a fixed expense into a true investment. When the group performs well, members earn dividends that reflect both member-specific and collective results. Since inception, NCI has returned more than $236 million in dividends to its members. It is insurance with accountability, with the potential for measurable return.

For
Executives

NCI empowers business leaders to turn insurance into a strategic advantage, giving them control over costs, culture, and outcomes while connecting them with a powerful network of like-minded executives.

For Financial Managers And Directors

For Financial Managers And Directors

NCI gives financial leaders greater control, predictability, and return on their insurance spend, transforming premiums into an investment that delivers stability, savings, and measurable ROI.

For Executives
Control Corporate Destiny

Leaders navigate complex challenges, balancing ambitious financial milestones with the critical task of leading organizational culture. NCI was founded by business owners who wanted more control over costs and outcomes. That same entrepreneurial spirit drives NCI today, empowering member companies to set the strategic course for their risk management future.

Transform Premium into a Strategic Spend
In the traditional market, excellent claims performance rarely translates into financial benefits. The annual premium is often a sunk, fixed cost with little control over the rate.

With NCI, that dynamic fundamentally changes. The premium becomes a strategic spend and not simply an expense. Member companies have the opportunity to earn dividends that directly reflect superior loss performance and the collective success of the group. This model works: since inception, NCI has returned over $236 million in dividends to its members, proving that excellent risk management pays tangible financial rewards.
Safety Culture as a Performance Lever

Every effective CEO understands that culture is king for team performance. A strong safety culture is perhaps the most critical component, ensuring employees return home safely and minimizing business disruption. Upon joining the NCI community, members benefit from the collective experience and insight of other successful leaders. Access includes direct safety coaching and proven strategies from fellow executives on cultivating a culture of safety and implementing safer, more efficient operations.

Network with Proven Business Leaders
As an NCI member, organizations are not just buying insurance; they are joining over 287 elite companies united in a commitment to controlling costs, improving safety, and growing the group’s financial strength. Members frequently cite this deep sense of camaraderie as a key benefit, often leading to valuable new business opportunities and extensive, practical peer-to-peer business training that goes far beyond insurance.
Stability, ROI, and Control

Finance directors and CFOs know an insurance program’s financial implications extend far beyond the initial premium. Leaders must assess long-term cost trends, volatility, and how claims activity impacts a company’s fiscal health. NCI was created by business leaders to solve these exact challenges, transforming insurance from a volatile expense into a controllable, financially rewarding asset. For successful companies, NCI is a direct and valuable contributor to sustained financial success.

Long-Term Cost Predictability

Traditional insurance markets rise and fall with industry trends, often ignoring a company’s actual performance. NCI replaces that uncertainty with stability. Members benefit from more predictable premiums that reflect their safety record and the group’s collective results, not external market swings. This consistency supports accurate, data-driven budgeting and long-term financial planning, helping finance teams project costs with confidence year after year.

Reduce Claims, Realize Savings

NCI provides the tools and expertise to implement safer company-wide practices, turning operational improvements into measurable financial savings. Members receive guidance and coaching on creating robust cultures of safety, with specific strategies for risk reduction across a range of industries. By implementing these practices across the organization, members directly and proactively reduce claims costs, securing a lower financial outcome year after year.

Turning Premium into a Strategic Spend

In NCI, the premium does not disappear, it works for the company. By sharing risk and practicing proactive loss control, members transform insurance from a fixed expense into a strategic spend. When the group performs well, members earn dividends that reflect both member-specific and collective results. Since inception, NCI has returned more than $236 million in dividends to its members. It is insurance with accountability, with the potential for measurable return on investment.

“Collaborating with likeminded, safe construction companies across the United States has not only been financially beneficial but more importantly it has enhanced our safety culture immensely over the years.”

President

Joined 2000

“Joining NCI was a strategic move for us. As we continue to grow, it gave us greater control over our risk management program and improved transparency with claims.

Just as valuable has been the collaboration with like-minded companies focused on safety and continuous improvement. The Safety Workshops have been tremendous, and our team looks forward to the key takeaways from each workshop.”

Owner

Joined 2022

“After nearly a century in business and exploring every traditional insurance model available, joining NCI in 2002 was the breakthrough we needed. It provided the perfect balance of risk minimization and cost control. Over two decades later, the results are undeniable: millions of dollars saved, consistent investment income, and a community of high-performing peers. Joining this captive wasn’t just an insurance move; it was a superior business decision.”

President & CEO

Joined 2002

“Becoming a member of NCI allowed our company to take a more proactive approach to insurance and safety. Instead of reacting to the traditional insurance market, we now have greater transparency, accountability, and control over our performance. The Captive has created a community of contractors who openly share best practices and ideas. That collaboration has made our company stronger.”

CFO

Joined 2018