In the recent article published by Insurance Journal, “CIC Services Names Former NC Regulator as Director of Captive Management,” by William Rabb, highlights Leane Rafalko’s appointment to Director of Captive Management by CIC Services. She has 20 years experience in the captive business and insurance regulation.
CIC Services has proudly announced the promotion of Shoshanna Simmons to the role of Director of Risk and Underwriting. After serving as the company’s Director of Client Services, Simmons has demonstrated exceptional leadership skills, going above and beyond. This exciting news was recently announced in Captive Insurance Times. In her new position, Simmons will play a crucial role in evaluating unique risks and recommending coverages for CIC Services and its captive clients, working alongside independent actuaries to determine premiums. Congratulations to Shoshanna Simmons on this well-deserved advancement in her career!
In this article by Bryan Ridgway for Captive Review, he discusses best practices for establishing a successful captive insurance company. He emphasizes the importance of compliance with state/domicile-imposed regulations, relevant court cases, and IRS safe harbors. He recommends either becoming a captive expert or hiring a qualified captive manager to handle the day-to-day functions and ensure compliance. Choosing an appropriate domicile is also critical, considering factors such as regulatory environment, political stability, tax regime, and perception of the domicile. Continuously reviewing and adjusting captive-issued policies to address changing risks and needs of the business is another best practice. Finally, Ridgway highlights the importance of strategic planning, risk management, and ongoing communication with all stakeholders to ensure the success of a captive insurance company.
In the recent article published by Captive International, CIC Services announced the appointment of Shoshanna Simmons to the director role of risk and underwriting. Simmons possesses expertise in risk management and insurance, holding a property & casualty insurance license and actively engaging with numerous professional insurance organizations, including membership in the Risk Management Society.
Read the full announcement here