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SMEs Navigate the Hard Market
February 28 2020

SMEs Navigate the Hard Market

Randy Sadler Recent Headlines

Nate Reznicek, Director of Operations at CIC Services, has written an article about the hard market for SMEs and the attractive options in the captive space. The article was published by Captive International.

“Well-managed SMEs and their brokers should look to leave the traditional guaranteed cost market as soon as they are culturally and financially able to do so, lest they find themselves priced out of their own market due to the rising costs of insurance,” writes Reznicek.

CLICK HERE to read the whole article.

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Captivating Thinking

  • Cyber Coverage – Captive Insurance Times
  • Solving the Successful Business Owner’s Chief Conundrum
  • Christopher Gallo, CFE, has joined CIC Services as managing director
  • Is Captive Insurance the Right Fit for Your Clients?
  • Tech companies turn to captives as cyber risk increases

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9721 Cogdill Road, Suite 202
Knoxville, TN 37932
Phone: 865.248.3044
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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.

Wealth Accumulation

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.

Insurance Profits

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.

Asset Protection

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.