Self insurance provision opened up
Oxygen Insurance Brokers and Close Wealth Management Group (CWMG), have the launch of a self insurance facility for UK businesses and professional practices, enabling them to reduce their insurance premiums.
The Close facility will allow the set up of individual protected cells for clients within a Guernsey-based protected cell company (PCC).
Andrew Wallin, head of Oxygen’s Financial Risks team said: “Self insurance is not a new concept but, until now, the establishment and administration costs have made it uneconomical for all but the largest companies. Our service will now allow a wider range of businesses to achieve savings whilst avoiding the onerous set up procedures and high ongoing
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