CICA: 50 years of progress
Contents
A VISION FOR THE FUTURE
CICA has grown in the past 50 years to be a unique and powerful voice for the industry.
WHY BEST PRACTICES ARE KEY
Captives need to showcase their value, and a major component of this is adhering to and sharing best practices.
MARKET CONDITIONS
The hardening insurance market—amplified since COVID-19—is driving even more organizations to look at captive insurance solutions.
THE PANDEMIC AND ITS EFFECTS
The COVID-19 pandemic has cast a spotlight on the advantages of captive insurance.
EDITOR’S NOTE
Far from looking back, CICA’s focus remains very much on a future filled with positivity, new talent and new ideas.
FOREWORD
The sense of a common purpose is a huge part of what makes the captive insurance industry so very special, says CICA president Dan Towle.
50 YEARS OF CICA
CICA has grown in the past 50 years to be a unique and powerful voice for the industry.
NEW TALENT
With its eyes set on the future, CICA is busy nurturing the next generation of captive insurance leaders.
AMPLIFY WOMEN
CICA’s Amplify Women initiative is creating strong 68 networks and making a difference in the captive insurance industry.
BEST PRACTICES
Captives need to showcase their value, and a major component of this is adhering to best practices.
STUDENT ESSAY CONTEST
The CICA College Student Essay Contest is an important part of the association’s drive to nurture new talent.
MARKET CONDITIONS
The hardening insurance market is driving even more organizations to look at captive insurance solutions.
CICA CONFERENCE
The annual CICA International Conference is a key date in the industry’s diary.
EMERGING RISKS
A growing number of emerging risks are being written into captives.
COVID-19
The COVID-19 pandemic has cast a spotlight on the advantages of captive insurance.
ADVANTAGE INSURANCE
The captives sector has always been good at solving problems—yet the most exciting innovations may still be to come.
EY
As CICA celebrates its 50th anniversary, three EY captive insurance services leaders take a trip down memory lane.
THE BAHAMAS
The Bahamas is increasingly attractive to entities seeking to be registered as segregated accounts.
CAPTIVE RESOURCES
The most successful organizations are the most resilient and adaptable—accepting of and able to most nimbly effect change.
GJ SULLIVAN RE
The transfer of risk using the most appropriate vehicles should be one of the main tools used by risk managers.
JOHNSON LAMBERT
Captive management practices are becoming more proactive versus reactive in how they approach alternative risk techniques.
GENERALI EMPLOYEE BENEFITS
Two of the team within Generali Employee Benefits describe driving forward innovations in the captive employee benefits sector.
SAGE ADVISORY SERVICES
The prominence of sustainability and corporate social responsibility has led to increased investor awareness.
VERMONT
Vermont has been a captive industry forerunner for four decades, and collaborates with others to promote the sector.
R&Q
Many captive owners are yet to explore the potential of run-off solutions for their legacy liabilities.
NURTURING THE NEXT GENERATION
With its eyes set on the future, CICA is busy nurturing the next generation of captive insurance leaders.
AMPLIFYING WOMEN
CICA’s Amplify Women initiative is creating strong networks and making a difference in the captive insurance industry.
COLLEGE STUDENT ESSAY CONTEST
Helping to shape the future of the captive insurance industry.
CAPTIVES AND EMERGING RISKS
Four industry leaders discuss how the sector is responding—and what the future will look like.
TENNESSEE
Tennessee was one of the first US captive insurance domiciles but was left behind by other states. Not any more.
BERKLEY ACCIDENT AND HEALTH
Self-funded healthcare plans are better for employers than fully-insured commercial insurance plans.
CONNECTICUT
A strong work ethic and ambitious plans are helping to make Connecticut a superhero among captive domiciles.
RIVERSTONE
First-time captive owners will embark on a steep learning curve—including the use of fronting companies.
HAWAII
The use of next gen finance within a captive structure can help companies combat price increases.
SPRING CONSULTING GROUP
Captives can help employers and employees grapple with the rising costs of healthcare.
BMS RE
Like captives, managing general agents are enjoying exponential growth, and there is a surprising amount of overlap.
BARBADOS
Barbados is ahead of the curve on many of the reasons a captive owner would choose a domicile.
HYLANT
The industry’s future success will depend on its ability to entice Millennials and GenZ-ers to consider careers in the sector.
CAPTIVE ALTERNATIVES
Captive Alternatives has devised an innovative Private Insurance strategy that offers firms a way to fund future losses.
BVI
Adding ‘flavor’ adds to the advantages and benefits of captives.
GUERNSEY
In 2022, Guernsey celebrates 100 years of captive insurance, a significant milestone.
PNC
For some firms, diversity, equity, and inclusion initiatives become tickbox exercises, but not for PNC.
ISLE OF MAN
The Isle of Man is recognised as a center for captive insurance business.
BERMUDA BDA
Bermuda continues to be a dominant presence in the increasingly innovative and important risk transfer sector.
AM Best
Each captive has its own set of circumstances, and its own ESG factors to consider.
SEDGWICK
Trends from the fast-paced, sophisticated and service-oriented captive insurance world.
IPFSDIRECT
The captive insurance space can overcome the burdens caused by rising administrative costs.
