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2020 Lessons Learned: Captive Insurance And What The Future Likely Holds For Middle-Market Companies
February 26 2021

2020 Lessons Learned: Captive Insurance And What The Future Likely Holds For Middle-Market Companies

Randy Sadler Captivating Thinking

On Wednesday, February 24, CIC Services hosted a webinar titled, “2020 Lessons Learned: Captive Insurance And What The Future Likely Holds For Middle-Market Companies.”

This webinar, CICS’s own Randy Sadler and Chris Gallo discussed the important lessons 2020 taught business owners, as well as how to take this new-found knowledge to help better prepare for the future, including:

  • Catastrophic Events Can And Will Happen
  • Business Continuity (aka Interruption) Plans Are Critical
  • Insurance Policy Language Is Extremely Important
  • Business Interruption Insurance Often Isn’t Enough
  • Having Access To Sustainable Cash Flow And Liquidity Is Crucial
  • Captive Insurance Could Have Prevented Many Business Closures

 

Watch the recording:

2021 May Be The Year For A Contract CFO WEBINAR: Captive Insurance and its benefits for big and small business and their owners

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  • 6 Proactive Practices To Prepare Your Clients For 2022
  • Start A Second Business To Create A Proven Additional Profit Center
  • Webinar – Start A Second Business To Create A Proven Additional Profit Center
  • Trouble Right Here In River City
  • Webinar – Trouble Right Here In River City – The Captive Insurance Presentation To Share With Your Business Owner Clients

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9721 Cogdill Road, Suite 202
Knoxville, TN 37932
Phone: 865.248.3044
Fax: 865.966.1199

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Stronger Business Model

Businesses who implement ERM programs combined with a captive to plan for unforseen risks stand a better chance of surviving, and passing to the next generation.

Improved Cost Controls

Captive owners can leverage their ERM and captive programs to improve their negotiating ability when renewing their commercial insurance coverages.

Wealth Accumulation

Profitable captives will see their reserves grow over time to significant sums which can be utilized by their owners for retirement or other life cycle needs.

Advantageous Tax Treatment

Insurance companies are the only entities allowed to expense projected future expense against current-year revenues (claim reserves). Small captives (premiums of $2.2M or less per year) may also elect to only be taxed on their investment income, potentially resulting in substantial tax savings for their owners.

Insurance Profits

Utilizing your captive to reduce or replace your commercial insurance coverage with policies issued by your captive allows you to capture insurance profits previously realized by the carriers.

Improved Risk Management

Adding a captive and ERM program will result in a higher awareness and enhanced strategies for how your organization thinks about and plans for all risks.

Asset Protection

The assets held by a properly organized and managed captive enjoy a very high degree of protection from both the business’ and business owner’s creditors.