This conversation is an introduction to captive insurance, a strategy that can help business owners lower their tax liability and mitigate risk. R. Kenner French, explains that a captive insurance company is a privately owned property and casualty insurance company that allows business owners to customize their own coverage. By setting up a captive, business owners can write a check to their own insurance company, lower their tax liability, and keep the assets within their control. The conversation also covers the benefits of captive insurance, such as risk reduction, wealth accumulation, and asset protection. The speaker emphasizes the importance of compliance with regulations and the need for a feasibility study before setting up a captive.