MINNEAPOLIS, Jan. 11, 2019 /PRNewswire-PRWeb/ -- The Captive Insurance Companies Association (CICA) today announced the three finalist teams in its "Next Generation Captive Insurance Solutions for New Risk Challenges" essay contest for college risk management and insurance students, sponsored by Strategic Risk Solutions.
The three finalist teams are:
- Christian Ferrara and Charles Fisher, Appalachian State University, "Alternative Risk Solutions: Captive Insurance for Cyber and Supply Chain Risk"
- Kayla Cecchine and Brendan Tarte, St. Joseph's University – "Captive Insurance: An Intimate and Efficient Risk Financing Solution to Climate Change and Tax Rulings Risks"
- Angel Song and Alana Vicale, Temple University - "Opioid Epidemic in the U.S."
For the CICA Essay Contest, two-person teams were asked to describe how and why a captive insurance company could be used as a cost-effective means of alternative risk financing for emerging risks and their corresponding loss exposures.
CICA President Dan Towle said the organization was very pleased with the results. "The contest was very competitive. We received entries from students studying risk management, insurance, actuarial science, finance, and business. All these areas of study are important to preparing the next generation of captive professionals. CICA is committed to help attract new professionals to the captive industry, which is top-heavy with leadership that is approaching retirement. That is why CICA is creating new opportunities for students and young professionals to learn about captive insurance," Towle explained.
Finalist teams are invited to attend the CICA 2019 International Conference in Tucson, Arizona March 10-12 where they will receive cash prizes and give presentations on their essays. "Our conference sessions with students have been very popular. By involving students in the conference, it allows them to showcase their creative ideas, connect with industry leaders and get excited about career opportunities in captive insurance," Towle said.
The essay contest aligns with this year's conference theme "Captives Shaping the Future" which reflects the growing opportunities for captives. With over 500 attendees, CICA's domicile neutral status draws the perfect blend of captive owners, captive managers, risk managers, domicile regulators and service providers from around the world. Key decision makers from the captive owners attend, along with many people who are just beginning the process to form a captive.
About the Captive Insurance Companies Association (CICA) http://www.cicaworld.com
CICA is the only global domicile-neutral captive insurance association. CICA is committed to providing the best source of unbiased information, knowledge and leadership for captive insurance decision makers. CICA is your advocate around the world, key to the captive industry and the resource for captive best practices.
About Strategic Risk Solutions (SRS) http://www.strategicrisks.com
SRS is the 5th largest captive management firm in the world and the leading independently owned manager. The company has a consulting unit and strong representation in all major US captive domiciles, Barbados, Bermuda, Cayman and Europe. It provides consulting, financial reporting, regulatory compliance and program management services to captive insurance companies as well as subsidiaries of commercial insurance and reinsurance companies.
SOURCE Captive Insurance Companies Association
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