Captive Insurance Times recently published an article Randy Sadler of CIC Services about the IRS’s abusive tactics that have left small and middle-market businesses vulnerable during the COVID-19 pandemic.
The recent article published by Medical Economics, “How Captive Insurance Safeguards Patient Privacy in Medical Practices,” by Chris Gallo, Managing Director at CIC Services, highlights how the healthcare industry is facing a growing threat of data breaches and ransomware attacks, with 295 breaches in the first half of 2023, impacting millions of patients. Small to […]
The recent article published by Insurance Thought Leadership, “Amplifying Liquidity with Captive Insurance,” by Chris Gallo, Managing Director at CIC Services, highlights how liquidity is crucial for businesses to adapt to changing markets, as it allows them to access cash or easily convertible assets. This financial flexibility enables them to invest in research and development, […]
Listen to CIC Services’s own Randy Sadler as he discusses key strategies for optimizing your finances with a captive insurance program with the host of the Profit Coach 4 You podcast. In the episode, you will hear practical tax-saving techniques and financial planning insights. Click play on the video below, or click here to read […]
Stronger Business Model
Businesses who implement ERM programs combined with a captive to plan for unforseen risks stand a better chance of surviving, and passing to the next generation.
Improved Cost Controls
Captive owners can leverage their ERM and captive programs to improve their negotiating ability when renewing their commercial insurance coverages.
Profitable captives will see their reserves grow over time to significant sums which can be utilized by their owners for retirement or other life cycle needs.
Advantageous Tax Treatment
Insurance companies are the only entities allowed to expense projected future expense against current-year revenues (claim reserves). Small captives (premiums of $2.2M or less per year) may also elect to only be taxed on their investment income, potentially resulting in substantial tax savings for their owners.
Utilizing your captive to reduce or replace your commercial insurance coverage with policies issued by your captive allows you to capture insurance profits previously realized by the carriers.
Improved Risk Management
Adding a captive and ERM program will result in a higher awareness and enhanced strategies for how your organization thinks about and plans for all risks.
The assets held by a properly organized and managed captive enjoy a very high degree of protection from both the business’ and business owner’s creditors.
Choose the captive manager with a proven track record of fighting for its clients, and winning.Learn more.