Student Essay Contest

The 2020-2021 CICA Student Essay Contest invites two-person teams of college risk management, insurance and business students to describe how and why a captive insurance company could be used as a cost-effective means of alternative risk financing.

Contest Details

The CICA 2020-2021 Student Essay Contest “Using Captive Insurance to Better Manage Risk, Improve Your Bottom Line”, sponsored by Strategic Risk Solutions, is intended to introduce students to captive insurance and the continually evolving uses of captives as a business advantage. Student teams participating in the Essay Contest will have the opportunity to learn from and interact with mentors at Strategic Risk Solutions in learning about their case and understanding key considerations in developing effective captive solutions.

Sponsored by:

Strategic Risk Solutions SRS Logo

In today’s hard market, businesses are looking for every advantage, and this year’s case studies reflect some of the creative opportunities to utilize captive insurance to manage risk and improve one’s bottom line.”

Dan Towle, CICA President

 

The Challenge

Student teams will 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.

Submit Final Essay

Contest Timeline

October 9, 2020 | 2 pm EST
SRS webinar for interested students. View the recording to learn about captive insurance and the case studies from experts at Strategic Risk Solutions

October 16, 2020
Intent to participate deadline. Student teams submit Intent to Participate Form. Note: you can still submit a final essay even if you did not submit the Intent form

November 13, 2020
Essay submission deadline. Student teams submit Final Essay Submission Form

January 9, 2021
Top three finalist teams notified

March 15, 2021
Winning team announced and finalists receive prizes at CICA 2021 International Conference, Scottsdale, AZ

March 15-16, 2021
Finalists present essays during education session at CICA Conference

TBD
Finalist essays published by Captive Insurance Times & CICA post-conference

Contest Rules

Teams: Insurance and risk management students worked 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 were judged by a team of CICA Members. No more than one team per school can advance to top three

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 in Captive Insurance Times and on the CICA website.

Case Studies

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

  • College Student Housing (CSH) – To address property damage of their student rental properties CSH wants to establish a captive and determine the best policies to offer for required renter’s insurance for college students living in their buildings.
  • Classic Auto Sales and Collision Centers – To address customers’ unique insurance needs by establishing a captive and selling them car insurance customized to the specific needs of classic car owners.
  • State Dental Association (SDA) – To provide cost-effective insurance options for its members whose businesses have been impacted by COVID-19, SDA wants to offer insurance through a captive to help members and improve the association’s bottom line.