Captive Review Turns To Nate Reznicek, ACI Of CIC Services To Provide “The Final Word” for CICA 2019
The Captive Insurance Companies Association (CICA) is the largest domicile-neutral captive insurance association globally. This year’s CICA conference was held in March 2019 in Tucson, Arizona. Not surprisingly, one of the hot topics of the conference was small captive insurance companies What is a Captive?, including those that make an 831(b) tax election. CICA has been providing guidance to the industry on compliance, risk distribution, and risk pooling. Pooling is an age-old industry practice, but some pundits have distorted U.S. Tax Court rulings to suggest there is no legitimate risk pooling. Captive Review turned to Nate Reznicek, ACI, Director Of Operations at CIC Services, LLC to write the “FINAL WORD” in the CICA Conference 2019 issue. Nate’s article includes some key themes from the conference, addresses the false narrative of some industry pundits and sets the record straight on risk pooling.
Speaking of “false narratives” he notes:
To an unsuspecting audience, these faux warning cries seem alarming and often come from someone that would normally be considered credible, like a tax professional or an attorney. These promote often use large paid-for-publication services to give the appearance of credibility and spread their disinformation campaign as far and wide as possible.
He also points out that:
CICA remains one of the best sources of unbiased information, knowledge, and leadership for the industry. Guidance issued by CICA is the work of a large number of highly-respected captive professionals and is never the work or voice of any one individual or corporation.
To read the entire “FINAL WORD” article, CLICK HERE to download a PDF copy.