7 August 2019

CIC Services forms new P/C reinsurance pool Knox Re in North Carolina

CICS Services, a risk management and consulting firm, specialising in the formation and operation of captive insurance companies, has launched a new reinsurance pool for property/casualty coverages.

Knox Reinsurance is licensed and regulated by the North Carolina Department of Insurance. The company’s portfolio approach allows for small and mid-market businesses to enter the captive market and replace commercial insurance coverage with A+ rated carriers.

Designed for small and mid-market businesses, Knox Re is a homogeneous pool that CICS claims will provide more predictable underwriting results with features designed to stabilise costs long term, simplify administrative burdens and help participating businesses gain greater control of their insurance programmes.

“Access to appropriate risk distribution and collateral has long been a sticking point for captives looking to write more traditional lines of coverage,” said Nate Reznicek, director of Operations at CIC Services. “With the formation of Knox Re our best in class clients are now able to easily access A+ carrier programs and take risk and retain underwriting profit in their property and casualty coverages.”

Knox Re is open to insureds from almost all industries and trade classes and helps ensure smooth losses and predictable results for program participants.

“Knox Re also provides great benefit to our carrier and broker partners,” said Reznicek. “Our strict underwriting methodology helps ensure that our carrier partners and client advisors can have great comfort in the quality of the captive participants, their underlying risk management practices, and repeatable underwriting results.”