Student Essay Contest

The annual CICA Student Essay Contest invites two-person teams of college risk management, insurance and business students to write about an aspect of captive insurance. Final essays are due Nov. 11, 2022.

Contest Details

The Challenge

Students are asked to demonstrate how to establish a captive for their chosen case study, select policy options, determine underwriting, pricing and more. Read about the 2021-2022 contest results.

The 2022-2023 contest is sponsored by:

We hear from young professionals they want to be challenged in their careers and they want to make a difference. Captive insurance provides those types of opportunities.”

Dan Towle, CICA President

About the Contest

The CICA 2022-2023 Student Essay Contest “Captive Insurance Solutions for Today’s Risk Management Challenges”, sponsored by Hylant Global Captive Solutions, invites students to select one of three case study topics for the competition. Students will demonstrate how to establish a captive for their specific case study, select policy options, determine underwriting, pricing and more.

Contest Timeline

October 12, 2022 | Webinar for interested students. Register here.

October 14, 2022 | Intent to participate deadline. Student teams submit Intent to Participate Form. Note: you can still submit a final essay even if you do not submit the Intent Form.

November 11, 2022 | Essay submission deadline. Student teams submit using the Final Essay Submission Form.

January 4, 2023 | Top three finalist teams notified.

March 5-7, 2023 | CICA International Conference. Finalists present essays and first, second and third place are announced.

April 2023 | Finalist essays are published by our media partner Captive Insurance Times post-Conference.

Contest Awards

Cash Prize

1st Prize: $2,500
2nd Prize: $1,500
3rd Prize: $1,000

CICA International Conference

Winning teams receive free registration and an opportunity to present.

Publication

Winning entries published by Captive Insurance Times and on the CICA website.

Official media partner:

Contest Rules

Teams: Insurance and risk management students work in teams of 2 students per essay

Essay Length:
10 pgs. maximum Word document (double-spaced, 12 pt. font in Times New Roman or Cambria)

Prior Publication:
Essays may not have been previously published (online or in print) or be in consideration for publication elsewhere

Judging:
Essays will be judged by a team of CICA Members. No more than one team per school can advance to top three

Case Studies

Case studies focus on developing strategies to help fictional organizations in real-world situations develop captive insurance solutions.

PikUp

Case Study # 1

PikUp operates with a team of 4,000 independent drivers using their own vehicles to deliver people, restaurant food and groceries. PikUp is considering a captive insurance solution to improve risk management for liabilities related to vehicle accidents, damage to merchandise or food, and potential driver injuries received while driving or delivering for PikUp. These drivers provide over 6,000 rides per day. The majority of PikUp’s revenue comes from the driving services provided by its independent contractors. PikUp also offers bicycle and scooter rental services that allow customers to reserve PikUp-owned bicycles or scooters and pay a per-mile rate to PikUp. This comes with liabilities for breakdowns, rider injuries and more.

Develop a captive insurance strategy for PikUp that includes the following:

  • Recommend the optimal captive structure.
  • Identify the lines of coverage to be placed in the captive.
  • Recommend a domicile location.
  • A well-run captive can provide additional focus on an established risk management plan. Identify additional risk management strategies or changes the organization might make as a result of implementing a captive that will further help the organization.

Sammy’s Deli

Case Study # 2

Sammy’s Deli is a top fast-food franchise with over 200 franchisees operating 1,200 stores across 50 states. Stores operate 24 hours daily. To help franchisees, Sammy’s gathered input on top issues and concerns. Leading concerns included addressing the rapidly increasing general liability rates, which have been rising steadily for several years; covering losses or impacts from supply chain disruptions including deliveries of food products and to-go containers; and operations issues resulting from staffing shortages. These top concerns led Sammy’s to propose that franchisees consider a captive insurance solution.

Develop a captive insurance strategy for Sammy’s Deli that includes the following:

  • Recommend the optimal captive structure.
  • Identify the lines of coverage to be placed in the captive.
  • Recommend a domicile location.
  • A well-run captive can provide additional focus on an established risk management plan. Identify additional risk management strategies or changes the organization might make as a result of implementing a captive that will further help the organization.

American College and University Athletics Association (ACUAA)

Case Study # 3

The American College and University Athletics Association (ACUAA) is a non-profit organization that regulates college athletics for 850 colleges and universities and 400,000 student athletes annually.

The ACUAA sets standards that must be followed by each college and university. These standards cover a code of ethics, recruiting practices, scholarships and more. Additionally, ACUAA athletes are now eligible to be paid for the use of their name, image, and likeness (NIL). NIL activities include social media influencing, promotional appearances, camps, lessons, autograph sessions, and more. Any student athlete’s NIL activities must be consistent with their school’s state laws. The ACUAA is looking to form a captive insurance company to assist in its risk management and risk financing strategy.

Develop a captive insurance strategy for the ACUAA that includes the following:

  • Recommend the optimal captive structure.
  • Identify the lines of coverage to be placed in the captive.
  • Recommend a domicile location.
  • A well-run captive can provide additional focus on an established risk management plan. Identify additional risk management strategies or changes the organization might make as a result of implementing a captive that will further help the organization.

About the 2021-2022 CICA Student Essay Contest

Temple University Students Win CICA Essay Contest

Temple University seniors Matia Daskalos and Vincent Palmieri received first place honors in the 2021-2022 Captive Insurance Companies Association (CICA) College Student Essay Contest “Using Captive Insurance Solutions to Address Coverage Gaps.” The winning team was announced during the opening session of the CICA 2022 International Conference at the JW Marriott Tucson Starr Pass Resort & Spa.

Second place went to Connor Thomson and Nicholas Vagnozzi of Sant Joseph’s University and third place to Katie Strohl and Blake Babec of Butler University.

You can read the final essays, published in Captive Insurance Times, by clicking here.

Intent to Participate Form

Final Essay Submission Form

  • Please select your essay document for upload. Your essay should be a Word document no longer than 10 pages (double-spaced, 12 point font in Times New Roman or Cambria).
    Max. file size: 100 MB.