CIC Services is excited to introduce a new captive insurance program that will truly be a Game Changer, opening the door to captive ownership for companies that would otherwise not be large enough to consider replacing their commercial insurance through a captive. Designed with the small and middle market businesses in mind, the CICS Bundled […]
737 is the number of unexpected. The best-laid plans can go awry, and this is certainly the case for Boeing. It’s also the case for all airlines, airports, businesses, mechanics, and passengers who have had their lives and operations interrupted by the FAA grounding the Boeing 737 MAX 8.
A “sunk cost” is typically defined as money that once spent is never recovered. If you paint your house and decide you hate the color, you can paint over it with a color you like. Nevertheless, the cost for the old paint was a “sunk cost.” In many ways, commercial insurance is a “sunk cost.” […]
Insurance is like a parachute. If it’s not there when you need it, you probably won’t ever need it again. This is particularly true for many small and mid-market businesses. Unlike large corporations that can usually weather disaster, small and mid-market companies are often one disaster away from extinction.
The Captive Insurance Companies Association (CICA) recently released Commercial Insurance and Captive Insurance Industry: Commonly Accepted Practices. CICA is the world’s largest domicile-neutral captive insurance association. This guidance from CICA for captive managers and service providers focuses largely on risk pools
As a business grows and matures, its owners may look for additional means to grow revenue, boost profits and accumulate wealth. Vertical integration is a common approach and includes forming or acquiring a second business that serves the core business. Vertical integration works because the supplier or service provider is already making a profit serving […]
The Self Insurance Institute of America (SIIA) recently released a Code Of Conduct For Captive Managers. CIC Services has not been shy about its praises
Business interruption often stings more than property loss. 2019 kicked off with a “human-caused disaster” for many American citizens with the longest federal government shutdown in U. S. History. And, another shutdown is looming in mid-February. Federal employees impacted by a shutdown receive back-pay when the federal government resumes operations, but the impact they feel […]
Captive International recently published a commentary by Nate Reznicek, ACI of CIC Services on the events of 2018 in the captive insurance industry. Nate examines court cases, Brexit, regulatory actions, mergers & acquisitions, small captives, reinsurance / risk pools and the continued growth of the industry. 2018 was an action-packed year for the captive industry. […]