In the recent article published by Captive International, CIC Services announced Shoshanna Simmons has been appointed to the position of Director of Risk and Underwriting. Her responsibilities will entail proficiency in actuarial analysis, risk management, underwriting, and regulatory compliance.
Read the full announcement here
The recent article published by Business Partner Magazine, “What Tomorrow May Bring: A Look at Insurance in 2023,” by Randy Sadler, Principal Chief Marketing Officer at CIC Services, discusses insurance’s rich history dating back to ancient civilizations like the Babylonians and Greeks, evolving into one of the most essential and regulated industries globally. Today, the industry is valued at trillions of dollars, with robust regulations ensuring policyholder protection. Captive insurance, particularly beneficial for various industries, offers quicker policy creation and tailored coverage. It provides financial security for businesses facing uninsurable risks or unexpected losses. Industries such as automotive, telecommunications, and healthcare rely on captive insurance to bridge gaps in traditional coverage, highlighting its importance in mitigating risks and ensuring business continuity.
In this short webinar, we’ll discuss how DSPs are utilizing Captive Insurance Companies to protect their businesses from the unexpected and keeping more of their profits (in many cases several hundred thousand dollars each year).
In this Risk Management article, Randy Sadler from CIC Services explores the challenges businesses face when expressing political views. While consumers expect executives to speak out, doing so can also result in significant losses. Companies risk damaging their reputation if they fail to align with their values, and many consumers may even boycott them. Negative media coverage is another potential threat that can harm a business’s image. Additionally, companies may lose government contracts or support due to their political affiliation. While mitigating the risk of retaliation can be complex and ever-changing, it is possible to provide protection. Businesses should conduct a risk assessment, review their insurance policies, consider a captive insurance company, and consult an attorney if they face retaliation. In some cases, hiring a reputation manager may also be beneficial.