May 2017

The writing is on the wall.  The world is changing fast, and business owners, CFOs and risk managers will have to bring their “A Game” to keep up with rapidly evolving risks.

This was the thesis of “Defying Disruption,” an educational session at the 2017 Risk Management Society (RIMS) Conference.  CIC Services, LLC attends the RIMS conference every year to stay abreast of industry trends, best practices in risk management, insurance, and risk financing.   The “Defying Disruption” session focused on the tremendous changes being thrust upon businesses, government, society and culture

Ironically, one of the largest captive insurance programs in the United States serves the University of California system with its 10 universities, 5 medical systems and 3 National laboratories.  The University of California Regents Captive Insurance Company, Fiat Lux Risk and Insurance Company has over $1.2 billion in assets and receives $980 million in insurance premiums annually from its institutions system wide.  According to Courtney Claflin, who heads up Captive Programs for all UC institutions, “it’s a flippin’ gas.”  He has saved

It’s quite disconcerting to “miss the boat,” so to speak.  And, this adage is particularly true for many mid-market and small businesses that would benefit immensely from owning their own insurance company – known as a captive insurance company (CIC) – but have yet to embark on this powerful course to improve risk management and boost profits.

CIC Services recently attended the Risk Management Society (RIMS) Conference in