Insurance is like a parachute. If it’s not there when you need it, you probably won’t ever need it again.
This is particularly true for many small and mid-market businesses. Unlike large corporations that can usually weather disaster, small and mid-market companies are often one disaster away from extinction.
The Captive Insurance Companies Association (CICA) recently released Commercial Insurance and Captive Insurance Industry: Commonly Accepted Practices. CICA is the world’s largest domicile-neutral captive insurance association. This guidance from CICA for captive managers and service providers focuses largely on risk pools
As a business grows and matures, its owners may look for additional means to grow revenue, boost profits and accumulate wealth. Vertical integration is a common approach and includes forming or acquiring a second business that serves the core business. Vertical integration works because the supplier or service provider is already making a profit serving the core business.
As an example, a manufacturer may choose to purchase or start a business
The Self Insurance Institute of America (SIIA) recently released a Code Of Conduct For Captive Managers. CIC Services has not been shy about its praises