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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.
There has been an increase in manufacturing companies pursuing captive insurance as a solution to the insurance conundrum, according to Randy Sadler, a principal with CIC Services.
Manufacturing companies should consider using captives to fill gaps in their commercial insurance coverage, according to Randy Sadler, a principal with CIC Services.
As firms moved to a work-from-home environment in response to COVID-19, cybersecurity has been highlighted as an increasing challenge. Industry experts suggest while captive coverage is tailored to the needs of the business, a commercial policy is just as important. Although many firms use commercial cyber policies for coverage, there can be gaps, leaving firms […]
If the turmoil of 2020 has shown businesses anything, it’s that they should have been better protected and most businesses could have benefited from more insurance and more money. The pandemic and riots have forced thousands of businesses into bankruptcy with many more still on the ropes. It’s impossible to predict what the next crisis […]
An increasing number of tech companies are replacing or supplementing commercial insurance with captive insurance, according to Randy Sadler, principal at CIC Services.
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.
There has been an increase in manufacturing companies pursuing captive insurance as a solution to the insurance conundrum, according to Randy Sadler, a principal with CIC Services.
Manufacturing companies should consider using captives to fill gaps in their commercial insurance coverage, according to Randy Sadler, a principal with CIC Services.
As firms moved to a work-from-home environment in response to COVID-19, cybersecurity has been highlighted as an increasing challenge. Industry experts suggest while captive coverage is tailored to the needs of the business, a commercial policy is just as important. Although many firms use commercial cyber policies for coverage, there can be gaps, leaving firms […]
If the turmoil of 2020 has shown businesses anything, it’s that they should have been better protected and most businesses could have benefited from more insurance and more money. The pandemic and riots have forced thousands of businesses into bankruptcy with many more still on the ropes. It’s impossible to predict what the next crisis […]
An increasing number of tech companies are replacing or supplementing commercial insurance with captive insurance, according to Randy Sadler, principal at CIC Services.
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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.