CIC Services, LLC (CICS) announced today the launch of a new reinsurance pool for property and casualty coverages. Knox Reinsurance Company Inc., referred to as Knox Re, is licensed and regulated by the North Carolina Department of Insurance.
Designed for small and mid-market businesses, Knox Re is a homogeneous pool that provides more predictable underwriting results with features designed to stabilize costs long term, simplify administrative burdens and help participating businesses gain greater control of their insurance programs.
“Access to appropriate risk distribution and collateral has long been a sticking point for captives looking to write more traditional lines of coverage,” said Nate Reznicek, Director of Operations at CIC Services. “With the formation of Knox Re our best in class clients are now able to easily access A+ carrier programs, and take risk and retain underwriting profit in their property and casualty coverages.”
Knox Re is open to insureds from almost all industries and trade classes and helps ensure smooth losses and predictable results for program participants. “Knox Re also provides great benefit to our carrier and broker partners,” said Mr. Reznicek. “Our strict underwriting methodology helps ensure that our carrier partners and client advisors can have great comfort in the quality of the captive participants, their underlying risk management practices, and repeatable underwriting results.”
Knox Re’s portfolio approach allows for small and mid-market businesses to enter the captive market and replace commercial insurance coverage with A+ rated carriers at only $250,000 of combined premium. Knox Re is now available to quote to qualified insureds. Brokers for quality insureds and existing captive owners are encouraged to visit https://www.captivatingthinking.com/bundled-captive-insurance-program/ or contact CIC Services directly at 865-248-3044.
About CIC Services, LLC
CIC Services, LLC is a risk management and consulting firm, specializing in the formation and operation of captive insurance companies for our clients nationwide. As an independent captive insurance manager, CICS provides unparalleled solutions to small and mid-sized businesses in all industry sectors and prides itself on the ability to take the unique complexities of insurance company operations and simplify them for the needs of clients. By “lifting the veil” on the insurance industry, CICS enables insureds to participate in risk management and profit in a manner that has been previously exclusive to the Fortune 500.
CICS has been helping businesses set up and own their own insurance companies for nearly two decades and is authorized to manage captives in multiple domestic and international jurisdictions from its headquarters in Knoxville, TN.