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Looking to read about ways we are serving the business community through the innovative use of captive insurance companies? If CIC Services is in the news, you’ll be able to read it here. Check out where we’ve made the most recent headlines below.
CIC Services has named Jake Ridgway vice president of people and operations. Ridgway brings more than 20 years of experience in human resources and leadership across the technology, digital analytics, information services, and advertising industries. In his new role, he will lead both HR and operations to support organizational effectiveness, enhance company culture, and ensure […]
If you manage a quick-service restaurant (QSR) chain across multiple locations, you’re likely facing rising insurance costs and inflexible policies. Traditional property insurance is increasingly misaligned with the realities of multi-site operations, forcing businesses to overpay for coverage that doesn’t reflect their actual risk profile.
In the recent article published by Captive Insurance Times, CIC Services announces the appointment of Leane Rafalko to the board of directors of the Utah Captive Insurance Association (UCIA) for a three-year term. She brings over 20 years of experience in both regulatory and private-sector roles, having joined CIC Services in 2023. In addition to […]
CIC Services and Environmental Risk Managers (ERMI) have enhanced their EnviroCap captive insurance program in response to ongoing challenges in the commercial insurance market.
While most CPAs feel secure with their current commercial crime insurance, many are unaware of hidden policy exclusions that leave their organizations financially vulnerable to significant fraud-related losses. These gaps are often discovered only after a major incident, when the financial and reputational damage is already done.
Looking to read about ways we are serving the business community through the innovative use of captive insurance companies? If CIC Services is in the news, you’ll be able to read it here. Check out where we’ve made the most recent headlines below.
CIC Services has named Jake Ridgway vice president of people and operations. Ridgway brings more than 20 years of experience in human resources and leadership across the technology, digital analytics, information services, and advertising industries. In his new role, he will lead both HR and operations to support organizational effectiveness, enhance company culture, and ensure […]
If you manage a quick-service restaurant (QSR) chain across multiple locations, you’re likely facing rising insurance costs and inflexible policies. Traditional property insurance is increasingly misaligned with the realities of multi-site operations, forcing businesses to overpay for coverage that doesn’t reflect their actual risk profile.
In the recent article published by Captive Insurance Times, CIC Services announces the appointment of Leane Rafalko to the board of directors of the Utah Captive Insurance Association (UCIA) for a three-year term. She brings over 20 years of experience in both regulatory and private-sector roles, having joined CIC Services in 2023. In addition to […]
CIC Services and Environmental Risk Managers (ERMI) have enhanced their EnviroCap captive insurance program in response to ongoing challenges in the commercial insurance market.
While most CPAs feel secure with their current commercial crime insurance, many are unaware of hidden policy exclusions that leave their organizations financially vulnerable to significant fraud-related losses. These gaps are often discovered only after a major incident, when the financial and reputational damage is already done.
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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.