Captivating Thinking

Chris Gallo, Managing Director of CIC Services, as well as several other distinguished panel guests, discuss how businesses and companies can attain cost-effective, comprehensive risk management solutions through captive insurance companies. Presented by the Greater New Britain Chamber of Commerce & the Connecticut Captive Insurance Association, this webinar will unravel the mystery of captive insurance and the opportunities available through the creation of captive entities.

A captive insurance program is an alternative licensed insurance company that is usually owned by a business owner(s). The main focus of the captive insurance company is on providing coverage to the business owner(s) and mitigating their exposure to traditional insurance companies’ volatile prices or that can’t meet the specific requirements of a company.

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: