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CICA Fears Captive Reinsurance Crunch

The head of a captive organization said the group must move speedily to confront a possible crisis in reinsurance availability in the wake of the Sept. 11 terrorist attacks.

“I personally am convinced that the insurance market is only going to get worse, not better, and we need to be doing something,” said Michael Mead, chairman of the Captive Insurance Companies Association, based in Minneapolis.

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