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OWNING YOUR OWN INSURANCE COMPANY.
The Principals of CIC Services, LLC Have Over a Century of Experience in the Insurance Industry.
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Weekly, clear-headed commentary on the captive industry.
By: Sean King, JD, CPA, MAcc Principal & In-House Counsel, CIC Services, LLC Question: Is it reasonable and legitimate for policy premiums paid to a captive insurance company to be higher than typical premiums paid for “similar” commercial insurance? A typical attack leveled by the I.R.S. against captive insurance companies to suggest evidence of a sham transaction is that the […] Continue reading
By Sean King, JD, CPA, MAcc Principal & In-House Counsel, CIC Services, LLC Question: Is a captive insurance company a sham if it was introduced to a business owner by a financial advisor? This week, I am continuing my series about distinguishing legitimate captive insurance arrangements from shams. Remember, there is growing concern among […] Continue reading
By: Sean King, JD, CPA, MAcc Principal & In-House Counsel, CIC Services, LLC If a captive insurance company does not replace third party commercial coverage, is it evidence of a sham? The short answer is an emphatic “no!” To suggest so would require complete ignorance Continue reading