NEW YORK, June 1 /PRNewswire/ -- Global Strategic Advisors announced today that it has developed a joint venture relationship with HGA-BVI and its affiliates to further build on their relationship in providing alternative risk transfer and captive insurance educational services on a global basis.

Alternative Risk Transfer is the execution of techniques outside of traditional insurance and reinsurance to provide risk-bearing entities with coverage or protection. This field has grown from a series of insurance capacity crises in the 1970s through 1990s that drove purchasers of traditional coverage to seek more prudent ways to buy protection.

Captive insurance companies are insurance companies established with the specific objective of financing risks emanating from their parent group or groups, but they sometimes also insure risks of the group's customers as well. Using a captive insurer is a risk-management technique where a business forms its own insurance company subsidiary to finance its retained losses in a formal structure. Often, captives are established to fill gaps in insurance coverage where the conventional insurance market either cannot provide coverage, or where the cost is considered not viable economically.

Modern-day captives began in Bermuda in the early 1960s. In recent years, the growth of captive insurance and related risk-transfer mechanisms has boomed globally, driven by businesses seeking to better manage insurance needs, including costs, coverage, flexibility, services, tax and capacity. Mr. Brian Callahan of Old Westbury, New York, and General Partner of HGA-BVI, stated, "As all private operating businesses have unique liabilities, issues, business models and organizational structures, it is imperative that decision makers have all the knowledge, flexibility and tools available to best manage their unique risks and protect assets compliantly in a very complex business environment. Through our relationships developed globally over the last 20 years, we can provide the educational tools and knowledge to be compliant and successful."

The private business owner can tailor insurance coverage to its specific needs via underwriting and retention customization, gain direct access to reinsurance markets, gain greater control over claims, minimize insurance cost, improve cash flow, control risk and accumulate wealth. Mr. John Dietz, Managing Director, stated, "We have unique inquiries on a daily basis such as, what jurisdictions are best for captive formation: Anguilla, Bermuda, British Virgin Islands, Cayman Islands, Luxembourg, Ireland or Vermont? What are the differences between a single parent captive, association captive, group captive, agency captive and rent-a-captive insurance structures? Can you help me understand what an 831(b) captive is all about or what is a 953(d) election? Our joint venture with HGA-BVI allows us to gain access to resources globally to provide private business owners with a comprehensive and purely educational framework."

Global Strategic Advisors is an assemblage of experienced professionals and specialists in the area of asset protection, risk management and wealth preservation. Global Strategic Advisors combines the strength of structure and diversity of creativity in the field of law, tax compliance, asset protection, estate planning and wealth preservation globally.

To be added to Global Strategic Advisors educational distribution list or to obtain the latest news releases and other Company information, please visit http://www.globalstrategicadvisors.com or contact Mr. John Dietz at 212-202-1998.

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SOURCE Global Strategic Advisors

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