Tuesday, January 5, 2010

Captive Insurance Best Practices Guidelines for Utilizing Service Providers Will be Unveiled at 2010 CICA International Conference

The much-anticipated release of CICA’s publication of “Captive Best Practices Guidelines for Utilizing Service Providers” is set for March, 2010. This new resource includes operational best practices for captives in utilizing services providers, specifically, captive managers, actuaries/consultants, auditors and attorneys.

Minneapolis, MN (PRWEB) January 5, 2010 -- The Captive Insurance Companies Association (CICA) announced the March release of its latest best practice guidelines for the captive insurance industry . The initial publication "Captive Best Practices Guidelines" was released in 2008 and focused on three fundamental issues for captive insurance companies: business alignment, corporate governance and regulatory compliance. This supplemental resource, "Captive Best Practices Guidelines for Utilizing Service Providers," is the logical next step with its focus on the operational best practices of captives in utilizing services providers, specifically, captive managers, actuaries/consultants, auditors and attorneys.

Karin Landry, incoming chair of the CICA board of directors and chair of the CICA Best Practices Task Force, has coordinated the efforts of two advisory groups representing captive owners and captive regulators, working in parallel with four groups representing the service providers: captive managers, actuaries/consultants, auditors and attorneys. “This is an exciting opportunity for CICA to facilitate the efforts of captive owners and captive regulators to create a document that will assist everyone in the captive industry in improving their existing operations,” says Landry. “Although these Captive Best Practices Guidelines need to be considered in light of each captive’s particular facts and circumstances, they will serve as guiding principles for captive owners as they develop and manage their captive programs.”

This is an exciting opportunity for CICA to facilitate the efforts of captive owners and captive regulators to create a document that will assist everyone in the captive industry in improving their existing operations.
“CICA is proud to provide this leadership for the captive industry.” says Dennis Harwick, president of CICA. “These beneficial and versatile resources provide a road map for both established captives and newly formed captives; they could not have been created without the hard work of the dedicated members of the CICA Best Practices Task Force,” adds Harwick.


A detailed overview of Captive Best Practices Guidelines for Utilizing Service Providers will be presented by the task force during the 2010 CICA International Conference. The session “Fine Tuning Your Operations: CICA Operational Best Practices” is set for Monday, March 8, 2010. The 2010 CICA International Conference runs from Sunday, March 7 to Tuesday, March 9, at the Omni Orlando Resort at ChampionsGate in Orlando, Florida. Program and registration details: www.CICAworld.com.

About the Captive Insurance Companies Association
CICA is the only domicile-neutral captive insurance association. Founded in 1972 by risk managers for their collective benefit, CICA works 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.

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Posted by prolink at 4:45 PM

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