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
- 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:
- Agenda creation
- Meeting facilitation
- Minute creation.
- Providing document storage for items pertinent to the creation and ongoing administration of the captive