CICA Confab Highlights Economic Storm, Captive Issues

The Captive Insurance Companies Association's 2009 International Conference will focus on techniques for navigating the global economic storm, the organization announced.

CICA said the meeting will address issues such as the impact of President Obama's tax policies, the economic turmoil and its effect on captives, and the business relationship between captive owners and auditors.

Scheduled for March 8-10 at the Hyatt Grand Champions Resort & Spa in Indian Wells, Calif., the conference theme is "Weathering the Storm: Captive Contributions."

"How will captives and risk retention groups weather the storm of the tumultuous global economy? That's the million-dollar question," said Dennis P. Harwick, CICA president.

"Economic turmoil," said Mr. Harwick, "calls for decisive action. The way we do businesses is changing...that's exactly why we designed the CICA International Conference to help industry professionals navigate these changes, stay on top of their business and be prepared for whatever the future holds."

CICA's 2009 conference program features two days of education sessions and a trade show where captive owners and risk managers can learn about and evaluate business solutions with service providers and domiciles.

There also are several preconference sessions for those just learning about captive insurance companies and risk retention groups, CICA said.

The conference program has scheduled Robert L. Crandall, former chairman and chief executive officer of American Airlines, as the opening keynote speaker addressing, "Leading through Tough Times: Innovation, Technology, Execution."

In addition, industry experts will discuss a range of topics from a domicile-neutral point of view.

Highlights include a session on tax issues by Tom Jones of McDermott Will & Emery LLP, who will discuss current and potential issues affecting captives' tax status.

Author Gert Cruywagen of Sappi Ltd. will speak on "Jungle Risk Management--Risk Lessons from the African Bush," explaining how animals manage or fail to manage risks to avoid becoming prey and how these risk strategies relate to businesses.

A new preconference session will discuss "Auditors vs. Captive Managers: Can't We All Just Get Along?" CICA said its session in association with the International Center for Captive Insurance Education will help shed light and promote understanding about the audit process for captives.

The session is in response to last year's conference, where captive owners related that audit firms tend to send in "green" auditors--with no understanding of captive insurance companies. Those auditors then demand information that the captive managers deem trivial and unnecessary.

On the other hand, audit professionals say captive managers/owners are clueless about auditing and often confuse the auditing process with accounting.

Other sessions include results of the CICA annual Fronting Survey, regulatory issues, reinsurance, health care captives, employee benefits, international models for captives, and thriving in a down economy.

CICA, the only domicile-neutral captive insurance association was founded in 1972 by risk managers. CICA works to provide the education, networking and leadership for captive and risk retention group professionals.

Early-bird registration and hotel deadline is Feb. 6. Conference and registration information is online at www.CICAworld.com.