2019 Year in Review
There is a lot going on at CICA. We are rolling out new member benefits to increase member value and enhance CICA’s industry leadership and advocacy. We have the captured the highlights of this year’s accomplishments in our new 2019 Year in Review.
From the President
2019 was one of our busiest years yet! We created new task forces to help attract and prepare the next generation of the captive insurance industry leaders. We continued our advocacy efforts in the U.S. and internationally. I would like to personally thank everyone for all their efforts on making this a successful year, including the CICA Board of Directors, committee volunteers and all our members. I am excited to report all the positive happenings within our organization!
Growing member benefits and egnagement
- Successfully launched the NEXTGen Young and New Professionals Task Force to enhance career development and networking for the next generation of captive professionals.
- Successfully launched Amplify Women™, a task force focused on connecting women with opportunities for education, networking and influence in the captive industry.
- Engaged college students in learning about the dynamic nature of captive insurance. Temple University seniors Angel Song and Alana Vicale received first place in the first Student Essay Contest “Next Generation Captive Insurance Solutions for New Risk Challenges” sponsored by Strategic Risk Solutions.
2019 Conference Recap
The conference’s education program had more topics and sessions than ever before. Cindy Solomon keynoted the conference and focused her speech on creating next generation leaders who are ready to shape the future.
Second highest attendance ever
Current & prospective captive owners
Highest number of sessions ever
- Developed “Commonly Accepted Practices” to review the structure and use of risk pools, address common misperceptions, and provide guidance on commonly accepted insurance practices.
- Provided guidance for the “GAO audit on Treasury’s Terrorism Risk Insurance Program.”
- Submitted comments with the European Captive Insurance & Reinsurance Owners’ Association regarding EIOPA proposals for Solvency II on Supervisory Reporting and Public Disclosure.
- Submitted comments to the IRS regarding Exception from Passive Income for Certain Foreign Insurance Companies.
Increasing international outreach
- Joined the Hawaii Captive Insurance Council for a series of educational programs in Japan.
- Continued partnership with the European Captive Insurance and Reinsurance Owners’ Association and explored new opportunities with the Pan-Asia Risk and Insurance Management Association.
2019 CICA Distinguished Service Award – Gary Bowers
2019 CICA Outstanding Captive Award – American Contractors Insurance Group Ltd.