The parent company directly influences and dominates the operation of professional self-insurance companies, including underwriting, claims policy and investment behavior. Professional self-insurance company is a technical product that enterprises decide to take their own risks in order to avoid unreasonable taxes, and it is also an advanced form for enterprises to use internal funds for risk financing.
Professional self-insurance companies appeared in the middle of19th century. At that time, the insured found that the traditional insurance types and insurance rates could not meet their insurance needs, so they established their own insurance institutions. For example, in the 1940s of 19, some American shipowners were dissatisfied with the marine insurance services provided by Lloyd's Insurance Company of London, so Atlantic Mutual Insurance Company was established. 1845, some warehouse owners in London set up the Royal InsuranceCompany to meet their underwriting requirements, because they could not obtain the required insurance coverage from the insurance company. But these are only independent events, which can only be regarded as the germination and embryonic form of professional self-insurance companies. It was not until the early 1960s that professional self-insurance companies began to really develop, and now they have become a very important force in the international insurance market. By the end of 2005, the number of professional self-insurance companies in the world has exceeded 5,000, with total premium income close to $26 billion and total investment exceeding $654.38+04 billion. More and more enterprises in the world have their own professional self-insurance companies. According to statistics, more than 70% of Fortune 500 companies have set up professional self-insurance companies.