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.
Join CIC Services’ Randy Sadler and Brian George of Planning Network Partners as they discuss Randy’s new book: Fortune Favors The Insured – The Definitive Guide To Captive Insurance For Middle Market Companies. When: Feb 15, 2024 05:00 PM in Eastern Time (US and Canada)
CIC Services, a leading provider of innovative insurance and risk management solutions, is proud to announce its participation in the upcoming Leukemia & Lymphoma Society’s (LLS) “Light The Night” event. The event is scheduled on November 10, 2023, and CIC Services is honored to support this important cause. “Light The Night” is an annual event […]
In today’s crazy mixed-up world, what’s a business owner to do? The last few years have demonstrated that far more businesses should have been protecting themselves by owning their own captive insurance company. In the interest of surviving and thriving, businesses clearly need more insurance and more money, and a captive insurance company is the […]
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.