BevCap Captive Group, Ltd. announced this week that it had joined BevCap Health, itself under BevCap Sponsored Captive Insurance, Inc.—a cell captive domiciled in Hawaii. The captive insurance group also announced its newest members.
BevCap Captive Group was founded in March 2008 to allow beer distributors to better manage their workers’ compensation, auto liability, and general liability. The founders wanted to ‘"take better care of their employees with less red tape,” while preventing duplicitous and trivial liability claims.
BevCap Health is “a member-driven, self-funded health plan with group risk sharing,” established in 2013. Although members implement separate and distinct health plan designs, the entire group administers the plans.
”To the best of my knowledge, the establishment of our second cell in Hawaii makes BevCap Sponsored CIC the first Hawaii captive to have multiple active cells. We are delighted with our partnership with the Hawaii regulatory team and look forward to growing our business with them,” said BevCap Program Manager BevCap Management LLC president Lance Abbott in a press release.
The captive group also announced its two newcomers: West Side Beer Distributing and Double Eagle Distributing, Inc. The former is a premier wholesale beer operation based in Michigan, while the latter is an Anheuser-Busch InBev Ambassador of Excellence wholesaler in Florida.
