I just returned from the CICA conference in toasty Orlando. As one of the prominent gatherings of captive insurance professionals, it’s a great opportunity to check in with folks and discuss issues facing captives, both bad and good.
Not surprisingly, the issues of the OECD Base Erosion and Profit Shifting Action Plan, 831(b)s, and the NAIC efforts regarding XXX/AXXX captives were front and center. But there were also great discussions around new opportunities for the industry such as medical stop-loss and employee benefits, using your captive to cover credit and political risk, and the growing interest to add cyber and reputational risk coverage. Tom Jones and Bruce Wright provided a very in-depth review of recent tax rulings that, for the most part, was fairly upbeat. Much still in flux (as it always is)!
On a more humorous note, you can see by the picture that Dennis Harwick, President of CICA, loaded up the ribbons on my conference badge (I think to try and slow me down). I was talking to Joel Chansky of Milliman, telling him I felt like Generalissimo Franco. He thought I looked more like Best in Show at the Westminster Dog Show! Definitely more accurate…
Thank you all very much, and I look forward to hearing from you soon.