Trusted Captive Insurance Manager
THOMAS N. KING
Founding Principal, Business Development
Thomas N. King (Tom) is a Founding Principal for CIC Services, LLC, in Knoxville, TN. Tom’s career as an advanced financial professional began in 1970. He helps clients design ownership in a Captive Insurance Company so they can better achieve risk management and asset protection goals.
Over his career, Tom has become known in his profession for his dedication and exceptional ability to find the very best financial solutions for clients. Moreover, his solutions provide clients the ability to spend more of their wealth throughout their lives, achieve their wants and dreams, yet preserving significant wealth in their estates. And, most importantly, his goal is to achieve these results with no additional net out of pocket costs to clients.
For almost 30 years Tom served as the head of one of the largest Financial Services Firms in East Tennessee, as General Agent for MassMutual Financial Group and Mutual Benefit Financial Group.
He has been an Elder in the Presbyterian Church USA since 1978, is a member of Fox Den Country Club and is a member of several professional organizations. Since 1969 he has been married to his high school Sweetheart, Laura Jo Nelson King and is the father of Sean G. King, JD, CPA, MAcc and Rachel Renee King Green.
Recent Industry News
Captive Insurance Requirements: Is Your Business a True Fit?
When small to mid-sized business owners explore alternative risk management strategies, they frequently find themselves evaluating captive insurance requirements to see if their company qualifies. For decades, a persistent myth has circulated that captives are reserved exclusively for multi-national conglomerates, massive shipping fleets, or heavy construction firms. This misconception causes highly disciplined, mid-market business owners […]
How Are Captive Insurance Companies Taxed?
Most businesses purchase insurance from a commercial carrier and give up control of the premiums they pay. A captive insurance company changes that arrangement by allowing a business to form or participate in an insurance company that covers selected risks. The captive collects premiums, pays covered claims, and retains funds that aren’t needed for losses […]
Captive Insurance Coverage: What Do Captives Commonly Insure?
Businesses often think about insurance in terms of the standard policies available from commercial carriers. Those policies provide essential protection, but they’re generally designed for broad groups of companies. When they don’t fully reflect one organization’s operations, loss history, emerging exposures, or tolerance for risk, captive insurance coverage can offer a more tailored approach. A […]
What Is a Captive Insurance Company?
A captive insurance company is a licensed insurance company owned by the business, business owner, or group of businesses it insures. Instead of sending all insurance premiums to third-party commercial carriers, a company can use a captive to insure selected risks through an insurance company it owns or controls. For business owners, CEOs, CFOs, CPAs, […]