AXA XL Partners on New Group Captive Insurer for Contractors

Phoenix Captive Insurance, a group captive insurance company, was recently launched by Envision Captive Consultants.

The captive was formed as a response to the legal and economic pressures facing contractors and supports the use of a general liability defense strategy, safety best practices, and group buying power to drive down insurance costs, according to Envision.

The program is a heterogeneous contractor program in partnership with AXA XL Insurance.

"We at AXA XL are thrilled to partner with Envision Captive Consultants and the Phoenix Captive on this collaborative endeavor," said Mark Benz, senior vice president, head of group captives, for AXA XL.

The captive is open to all types of contractors including commercial and residential construction companies as well as contractors in the oil and gas and energy sectors, according to Envision.