CICA presents awards to ECIROA and EIS in opening address
The Captive Insurance Companies Association (CICA) presented its 2018 distinguished service award to the European Captive Insurance and Reinsurance Owners’ Association (ECIROA).
The award was presented by Dan Towle, president of CICA, and was created to recognise individuals or organisations that have made significant contributions to advancing the captive insurance industry.
Udo Kappes, chairman of ECIROA, explained that the association was founded not only in response to the impact of Solvency II, but also to provide European captives with one collaborative voice.
“ECIROA is very appreciative of this award. We are fully committed to continue with the work we have done so far to support the best interest of all captives, but especially to our members which have given us their direct mandate as global players in industry, commerce, trade and finance," said Kappes.
Kappes said that he would like to further develop the cooperation between CICA and ECIROA. Together they will be hosting the European Captive Forum in Luxembourg in November.
Towle also presented CICA’s 2018 outstanding captive award to Energy Insurance Services (EIS), the wholly-owned insurance subsidiary of Energy Insurance Mutual (EIM).
EIS was formed to provide a facility that would meet EIM members’ business requirements for the placement and management of alternative risk related products. It has over 15 mutual business programmes with lines of insurance ranging from workers’ compensation, general liability, property and employee benefits, to terrorism, wildfire and cyber liability.
"Receiving this prestigious award is confirmation that the concept of innovative, flexible and prescribed solutions, such as those provided by captive insurance, must form an essential part of any company's insurance and risk mitigation strategy,” said Tommy Bolton, EIS chief financial officer.
“CICA has long been a leader in identifying and sharing ground-breaking concepts designed to effectively and efficiently manage risk. EIS and its members are pleased to be recognised by CICA and hope to continue the tradition highlighted in the 2018 CICA conference theme of embracing and meeting the 'Challenge of Change."
During the opening session at the CICA 2018 International Conference, NAIC president Julie Mix McPeak expressed her pride to be associated with the captive industry.
“I’m most excited seeing the challenges in the commercial market being solved by captives,” she said.
She said that the conference was a good way to address some of the new risks that the traditional market is hesitant to address, for example cannabis.