New Reinsurance Pool for Captive Insurers Knox Re Formed

A newly launched reinsurance pool for captive insurance companies is being offered by CIC Services, LLC (CICS). Designed for small and midmarket businesses, Knox Reinsurance Company Inc. (Knox Re) is a homogeneous pool for property and casualty insurance coverages. 

Knox Re is licensed and regulated by the North Carolina Department of Insurance.

"Access to appropriate risk distribution and collateral has long been a sticking point for captives looking to write more traditional lines of coverage," said Nate Reznicek, director of operations at CIC Services.

Pool participants have access to A+ insurer programs while taking risk and retaining any underwriting profits in their property and casualty coverages, according to Mr. Reznicek.

The reinsurance pool is open to insureds from almost all industries and trade classes with a focus on small and midmarket businesses looking to enter the captive insurance market. 

CICS said Knox Re's portfolio approach gives small and midmarket businesses with $250,000 of combined premium entry into the captive insurance market.