Former Active Captive compliance exec launches LA-based captives consultancy

Dana Sheridan has launched a new business providing consultancy services called CIRA Solutions.

Los Angeles-based CIRA Solutions offers consultancy and advisory services in connection with compliance, insurance policies and programmes, risk management, and the structure, operation and regulation of already formed captives.

Sheridan, who is the founder and principal advisor for the new company, has spent 25 years in various roles predicting, mitigating and managing risk. She spent nearly nine years at Active Captive Management as chief compliance officer, and was most recently a deputy general counsel at Acrisure. Earlier in her career she was also a partner at the law firm, Tressler in Los Angeles.

CIRA stands for compliance insurance risk advisors. “What I like about the name and part of the reason I chose it is that it sounds like ‘seer’,” said Sheridan. “Every company the world over needs to look from its past, through its present, and into its future and be its own seer, seeing risk and its impact before it happens.”

Sheridan emphasised the impact of COVID on the way companies think about risk management and strategic growth, arguing the pandemic has created demand for experienced professionals to help companies navigate the challenges they face to be ready for the next moment where being able to pivot is key to company survival.

“COVID taught us all what happens to a business that is not prepared for any eventuality,” she explained. She urged companies to learn the lessons from the last year and identify and mitigate any and all risks that could disrupt their business model.