Magazine article Risk Management

CICA Today - A 1995 Report

Magazine article Risk Management

CICA Today - A 1995 Report

Article excerpt

On behalf of the Captive Insurance Companies Association, more commonly known as CICA, I welcome your interest in our association. With about 165 member companies, CICA promotes the interests of captive insurance companies, regardless of domicile or structure. For the past 23 years, CICA has proudly represented captive owners and captive industry service providers involved in promoting captives as viable methods for transferring and financing risk. Our continued growth and ever-increasing level of activity are testimony to our contributions to the industry and to the value of CICA membership.

CICA is a small non-profit trade association with a large economic impact. Premiums written by member companies total well over $1 billion annually, and the parent corporations of our member companies employ over 1.5 million people with business and risk all over the world. While we have grown larger, our relatively small size allows CICA to adapt readily to the changing needs of our members and allows new members to become immediately involved in the association and its activities.

When the use of captives became popular among U.S. corporations in the early 1970s, the need arose for captive companies to communicate with each other and share ideas. In 1972, CICA was formed with 13 members. Within three years, 45 companies had joined CICA, and membership reached 86 in 1977. The following year, the by-law restricting membership to 100 was amended, removing a limit on CICA's growth. …

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