Foreward As the son of a successful business owner, I know there are many facets to running a profitable business. Ultimately it was because of my experience with my father’s firm that led me to captive insurance. Upon entering the captive world, I first began by completing my Associate in Captive Insurance (ACI). I’ve been in the captive industry for 2 years, and I’m actively involved in educating business owners on what captive insurance is and discussing its benefits. During my time with captives, I’ve seen how a captive can completely revolutionize an enterprise. I’m fortunate to work for one of the leading experts in captive insurance, Randy Sadler, a principal at CIC Services. Randy has helped hundreds of successful business owners protect their businesses for over 10 years. He has played a pivotal role in leading his firm to two Middle Market Captive Manager of The Year awards. Randy is a wonderful mentor and has played a significant role in teaching me the ins and outs of the captive insurance industry. Even with earning my ACI, most of the knowledge I’ve accumulated with captives comes through his guidance and instruction, I certainly would not be where I am today without his mentorship. Through this book, Randy shares his expertise in the captive industry and why more business owners should consider forming a captive. Like a finely tuned engine, every component of a business must work in tandem, propelling the endeavor forward with precision. If even the smallest screw comes loose, it can be detrimental to an enterprise. One key area where businesses often lack is in their insurance needs. In my experience, many successful companies are either underinsured or uninsured altogether. If you owned a successful business and knew of a strategy to better protect that business all the while increasing your profits, wouldn’t that be a no-brainer? This book provides an excellent introduction to how a business owner can take control of their insurance program. Randy begins by highlighting the need for captive insurance in the middle market and builds on that need with a history lesson on captive insurance so that the reader can fully grasp this concept before continuing. With these cornerstones fully explained, Randy dives deep into the complexities of captives including the Tenets of Insurance, Types of Captives, Formation and Licensing Processes, Selecting a Domicile, and Choosing A Captive Team. Whether you’re a seasoned veteran or brand new to the industry, Randy’s book offers something to learn for everyone.
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