CICA Announces Finalists for 2025 Student Essay Contest

Students from Connecticut College, St. Mary's University, and the University of Wisconsin-Madison have been named finalists in the Captive Insurance Companies Association (CICA) 2025 essay contest. These teams will present their work and compete for cash prizes at the CICA International Conference, scheduled for March 9–11 in Tucson, Arizona.

Sponsored by Hylant Global Captive Solutions (Hylant GCS), the contest challenges two-person student teams to address real-world business challenges. This year's submissions focused on how captive insurance companies can be used as cost-effective solutions for alternative risk financing. The contest featured three detailed case studies designed to test students' creativity and critical thinking in applying captive solutions.

The 2025 Case Studies

1. Acadia Field: A state-of-the-art sports and entertainment facility, Acadia Field is home to the Maine Lobsters, a professional football team, and hosts over 600 annual events, including concerts, sports games, and stadium tours. The facility faces mounting challenges from rising insurance premiums and limited coverage options for risks such as general liability, liquor and food safety, event cancellations, and production equipment. The management is exploring a captive insurance solution to address these issues more effectively.
2. Seagrass Lodges: This group of 15 oceanfront hotels on the US West Coast averages 50 rooms per location and includes unique restaurants and bars. Seagrass Lodges employs 900 people and is struggling with premium increases in the commercial insurance market for general liability, liquor liability, property, crime, and workers compensation. Students were asked to propose a captive insurance structure to help the organization manage these risks comprehensively.
3. Choose Your Industry: In this open-ended case study, students selected an industry of their choice, such as health care, manufacturing, or renewable energy, and researched the emerging risks within the sector. They were required to identify coverage gaps, premium increases, or other issues in the commercial insurance market and recommend how a captive insurance solution could better address these challenges.

The three finalist teams will refine their essays with guidance from Hylant GCS mentors before their revised submissions undergo a second round of judging to determine the top rankings.

"This contest is one of the highlights of our conference," said CICA President Dan Towle. "We give students an inside view of the increasing career opportunities in the captive insurance industry, how innovative it is, and the exciting challenges it offers."

Anne Marie Towle, CEO of Hylant GCS, said, "The captive insurance industry offers students an incredible opportunity to dive into a field shaping the future of risk management. Engaging students in this industry is crucial, opening various pathways for immediate employment and long-term career growth. It's encouraging to consider how their involvement can not only benefit their careers but also contribute to the overall development of the industry."

The winners will be announced during the Monday morning general session of the CICA International Conference. In addition to cash prizes, finalists will present their essays during a dedicated educational session at the event.

The contest, which began in 2018, is part of CICA's broader initiative to promote talent development and innovation in the captive insurance industry. Students who participate gain valuable insights into the role of captives in strategic risk management and have the chance to network with leading professionals in the field.

Registration and additional conference details are available on the CICA website.