Massive Savior: I formed a captive and had a huge claim my first year.
Many of our clients have formed captives only to be saved from sheer destruction by their captives in its first year.
Many of our clients have formed captives only to be saved from sheer destruction by their captives in its first year.
Every fall, CIC Services launches the 60-Day Captive Insurance Countdown, which is a focused initiative to help business owners and executives take decisive action before the year closes. This year’s theme, The Cost of Waiting, resonated more strongly than ever as businesses continue to navigate a landscape marked by inflation, rising insurance premiums, and evolving […]
Join Chris Gallo and Alex Overkamp for a one-hour course, offering 1 hour of CPA CPE credit, inspired by the acclaimed book Fortune Favors The Insured, by Noah Miller, ACI, and Randy Sadler. The session provides accounting and financial professionals with a practical introduction to captive insurance companies as strategic tools for risk management, asset […]
Every year, the business landscape grows more complex, volatile, and unpredictable. Costs rise, insurance coverage narrows, and risks multiply. Yet amidst the uncertainty, one truth remains clear: businesses that take control of their risk management today will be the ones best positioned to thrive tomorrow. At CIC Services, we have spent decades helping business owners […]
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.
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.
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.
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.
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