CICA Reports Successful Fall Meeting
By Caroline McDonald
NU Online News Service, Oct. 20, 10 :00 a.m. EDT?In an effort to reach out to more captive domiciles, the Captive Insurance Companies Association said it has made some changes and plans to initiate more.
CICA's fall meeting, Oct. 12 and 13, which was held in Hamilton, Bermuda this year, attracted about 72 attendees and for the first time was open to non-members. Last year's meeting in New York attracted 45 attendees.
The group also expanded the number of seminars, offering sessions on global marketing, the reinsurance market and tax issues.
"Those are part of our programs to beef up our educational efforts, and if they continue to go as Bermuda did, we are clearly on the right track," said Carl Modecki, CICA president and principal of Carl A. Modecki Consulting Services in Port St. Lucie, Fla.
"The most important aspect was that we were about 50-50 in terms of captives versus suppliers, which is an ongoing issue for all the educational programs," Mr. Modecki added.
The association said it plans to see that the mix of vendors and suppliers versus captive owners continues by altering fees for attendees.
"We're going to reduce our rates to captives, particularly captive members, and we'll increase our rates to suppliers so we get the ratio right," Mr. Modecki said. "That's more important to us than the net revenue that comes in."
He noted that the meeting next fall is scheduled for Burlington, Vt., and the association is making plans for 2005.
CICA's annual conference is scheduled March 14-16, 2004, in Phoenix, Ariz.
More information about CICA is available on the Web site at www.captiveassociation.com
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