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12 August 2019 Insurance

CIC Services launches new property/casualty reinsurance pool Knox Re

CIC 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 and casualty (P&C) coverages.

The reinsurance pool, referred to as Knox Reinsurance Company (Knox Re), is licensed and regulated by the North Carolina Department of Insurance, and is designed for small and mid-market businesses.

CIC described Knox Re as a homogeneous pool that provides 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.

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

Nate Reznicek, director of operations at CIC Services, said: “Access to appropriate risk distribution and collateral has long been a sticking point for captives looking to write more traditional lines of coverage. 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 also provides great benefit to our carrier and broker partners,” Reznicek added. “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.”

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