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New York Captive Insurance

Captive Solutions

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    Game-Changing Financial Vehicle for Business Owners and CFOs

    Since 2005, CIC Services, LLC has helped clients in New York discover their own game-changing financial vehicle. This discovery is the financial advantages afforded to business owners and professionals derived from owning their own insurance company.

    All risk is financial.

    An insurance company is a powerful financial vehicle that can provide tremendous added value to businesses and business owners.  CIC Services LLC helps clients set-up, own and operate their own insurance company – known as a captive insurance company.

    First and foremost, a captive insurance company can provide more effective risk management and casualty insurance protection to a parent company or companies.

    Owning a captive insurance company can enable business owners to more effectively address the following wants and needs:

    • Reduce insurance costs
    • Improve risk management and insurance protection
    • Experience tax savings
    • Improve asset protection
    • Accelerate wealth accumulation
    • Facilitate estate transfer to future generations
    • Provide an alternative to non-qualified retirement or deferred compensation plan
    • Provide golden handcuffs or golden parachutes
    • Facilitate buy-sell, buy-inn, or buy-out arrangements
    • Provide an alternative to qualified retirement plans

    What Is A Captive Insurance Company?

    A captive is a unique but REAL casualty insurance company.  It includes its own corporation, insurance license, reserves, policies, policyholders, and claims.  It is a formal way for business owners to self-insure, and captives are generally formed to insure the risks of owners and related or affiliated third parties.

    There are many risks that all businesses regularly face and informally self-insure.  It’s worth noting that businesses informally self-insure with after-tax dollars, meaning that a businesses’ “rainy day fund” is usually comprised of retained earnings that have already been taxed.  With a captive in place, businesses can formally insure risks not normally insured by third party insurers.

    Contact CIC Services today and we’ll perform an initial no-cost analysis of your current insurance program to help you determine if owning a captive insurance company through the CICS Bundled Program is right for you and your business.