These distinguished organizations are all signatories on the latest Amicus Brief to the U.S. Supreme Court in support of CIC Services’ lawsuit against the IRS.
Discover how you can protect your business against cybersecurity threats associated with working remotely with a captive insurance program in a recent article published in CPA Practice Advisor by CICS’s own Randy Sadler.
On July 22 at 2 p.m., CIC Services hosted a webinar called, “Tumultuous 2020 Highlights Obvious Need For Middle-Market Companies To Own An Enterprise Risk Captive.” 2020 has been a roller coaster year, and it has shown that many middle-market businesses were unprepared. To make matters worse, many businesses have been uninsured for losses due to COVID and other losses in 2020 or had claims denied.
It’s quite possible that the decade ahead will be equally tumultuous and unpredictable. Forward-thinking middle-market companies will recognize that they need both:
MORE INSURANCE
-and-
MORE MONEY
And, there is only one strategy that delivers both – an Enterprise Risk Captive Insurance Company.
This webinar is for Middle-Market business owners, CEOs, CFOs, Risk Managers, and trusted advisors (CPAs, Insurance Agents, Asset Managers).
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.