2008 February « Duane Castles

Archive for February, 2008

About CICA
Your Best Resource for Captives and More The Captive Insurance Companies Association is the only domicile-neutral captive insurance association. That means CICA is free from jurisdictional or commercial ties since it is not linked with a domicile or government entity. Founded by risk managers for their collective benefit, CICA continues to work to provide the foremost education, networking and leadership for captive and risk retention group professionals.Through CICA’s personal network focused on the common issues that concern captives and risk retention groups, members are constantly exploring new ways to broaden the use of their captives to increase flexibility in program design, stabilize long-term program costs and increase access to both domestic (U.S.) and offshore reinsurance capacity.A History of Success CICA was formed in 1972 to foster and support the development of captive insurance companies around the globe. Through the years, CICA has evolved along with the industry to offer alternative risk professionals the latest, most up-to-date viewpoints on captive insurance, and more recently, risk retention groups. CICA’s expanding membership is a tribute to its growing number of educational offerings and its efforts to keep top professionals informed of the latest developments or challenges in the industry.

	CICA members come from a wide range of industries.
	More than thirty jurisdictions (Countries & U.S. States) have existing captive or risk retention legislation and many new domiciles are emerging and expanding.
	CICA members have an average of 2.5 captives per member.
	CICA members are domiciled throughout the world, with the highest number domiciled in Vermont, Hawaii, Bermuda, the Cayman Islands and the British Virgin Islands.
	These captives most commonly write workers’ compensation and property/casualty lines, but have also diversified into areas such as product liability and employee benefits. Others have diversified into a substantial amount of related outside business and view their captives as important cost-savings mechanisms.