July 2012

The great State of Tennessee has significant growth ambitions for the captive insurance industry in the state.  Since revamping its captive insurance laws in the Summer of 2011, the state has added 10 new captive insurance companies.  Governor Bill Haslam spoke at the Tennessee Captive Insurance Association (TCIA) conference in Nashville, Tennessee on Wednesday, December 4, and he said he has given the Department of Commerce and Insurance the goal of 30 captives domiciled in Tennessee by the end of 2013.

For any captive to be successful, it must do three things well: (1) operate as an independent and legitimate business, (2) manage its costs (including claims), and (3) manage its assets effectively. CIC Services is here to help with all three of these things, and going forward we’ll be sending you periodic updates, like this one, describing how we do so.

This is our third letter about the Captive Live Conference in Chicago, Illinois.  CIC Services, LLC recently attended the conference as part of our on-going efforts to stay abreast of shifting trends, strategies and regulations in the captive insurance industry.  At this conference, we had the benefit of sitting in on a round-table discussion titled “The Future Role of Captives and Risk Managers.” The round table included risk managers from the U.S. Olympic Committee, Whirlpool, Equity Lifestyle Properties  (a REIT catering to middle class retiring baby boomers), and H&I (a fireplace manufacturer).