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Services

Services

CIC Services, is a licensed captive management firm that is approved in multiple jurisdictions.  CIC Services assists with all aspects of forming, operating, managing, and eventually terminating a captive insurance company (“CIC”).

Our services include:

  • Facilitating all activities necessary to help the client make an informed decision about the feasibility of using a Captive Insurance Company (CIC)
  • Introducing the client to competent attorneys who are well-versed and experienced in CIC creation as well as the ongoing tasks required to keep the CIC compliant with laws and regulations.  We work closely with the attorney to facilitate:
    • Certificate of Incorporation
    • IRS Election Statement
    • Articles of Association
    • Shareholders Agreements
    • Shareholders Certificates
    • Trust Documents
    • Resolutions
  • Coordinating the efforts of the client and his/her attorney, CPA, actuary or insurance manager, the insureds, and the regulators to insure that all compliance related deadlines are met.
  • Assisting with domicile selection
  • Preparing regulatory filings for submission
  • Guiding client on applying for policies and getting them underwritten
  • General bookkeeping on QuickBooks
  • Manage the CIC’s reserve requirement
  • Determining required capital contribution calculations
  • Prepare annual budget and expense projections
  • Facilitating semi-annual shareholders meetings including:
    • Scheduling
    • Agenda creation
    • Meeting facilitation
    • Minute creation.
  • Providing document storage for items pertinent to the creation and ongoing administration of the captive