The Captive Insurance Companies Association (CICA) has announced the three teams of finalists in its ‘Next Generation Captive Insurance Solutions for New Risk Challenges’ essay contest for college risk management and insurance (RMI) students.
The contest, sponsored by Strategic Risk Solutions (SRS), required two-person teams to describe how and why a captive insurance company could be used as a cost-effective method of alternative risk financing for emerging risks and their corresponding loss exposures.
The three teams of finalists, who are invited to attend the CICA 2019 International Conference in March, where they will receive cash prizes and give presentations on their essays, are as follows:
Christian Ferrara and Charles Fisher from Appalachian State University, for their essay titled “Alternative Risk Solutions: Captive Insurance for Cyber and Supply Chain Risk”.
Ferrara was one of three students sponsored by SRS to attend the Vermont Captive Insurance Association conference this year and in issue 159 of Captive Insurance Times spoke to us about his experiences.
St. Joseph’s University students Kayla Cecchine and Brendan Tarte for their essay named “Captive Insurance: An Intimate and Efficient Risk Financing Solution to Climate Change and Tax Rulings Risks”.
Angel Song and Alana Vicale, from Temple University, for their essay titled “Opioid Epidemic in the US”.
Song has also featured in Captive Insurance Times, having spoken to us in July about her experiences as an intern during the summer.
CICA president Dan Towle said the competition was an example of the association’s commitment to attracting more young professionals to the captive industry.
Towle commented: “The contest was very competitive. We received entries from students studying risk management, insurance, actuarial science, finance, and business.”
“All these areas of study are important to preparing the next generation of captive professionals. CICA is committed to help attract new professionals to the captive industry, which is top-heavy with leadership that is approaching retirement.”
“That is why CICA is creating new opportunities for students and young professionals to learn about captive insurance.”
Towle added: “Our conference sessions with students have been very popular.”
“By involving students in the conference, it allows them to showcase their creative ideas, connect with industry leaders and get excited about career opportunities in captive insurance.”
