Spring to Speak at CICA 2020

The Spring team is excited to enjoy warmer temperatures at the upcoming Captive Insurance Companies Association (CICA) 2020 International Conference. This will be the firm’s 12th consecutive year being involved in this conference, which brings together hundreds of the industry’s best and brightest to learn from each other.

This year, our Managing Partner, Karin Landry, will be on a panel of captive experts, sharing their experience and guidance for the industry’s future generations. She will be joined by Deyna Feng of Cummins, Inc., Pete Kranz of Beecher Carlson and Michael Scott of Allison & Mosby-Scott, thus offering the perspective of the employer, the consultant, and the attorney. The goal of the session is to give young professionals the chance to ask veterans any questions or discuss challenges in an informal format. The audience will switch between the four panel members at certain intervals, eliciting a “speed dating” sort of environment. CICA has recognized that this aging industry needs to focus on preparing tomorrow’s leaders, as well as attracting new and young talent. This session is a step in the right direction to achieve those goals.

If you are heading to the CICA Conference in Ranco Mirage, CA from March 8th-10th, please check out Karin’s session, “Speed Networking with Young Professionals”, which will run from 3-4 PM on Monday, March 9thCICA 2020

Spring Wins Two of Captive Review’s 2019 Awards

We are incredibly excited to announce that the Spring team had a great night this past Monday at the CaCaptive Review Award Winner 2019ptive Review awards reception in Burlington, Vermont.

Spring took home the award for Employee Benefits Specialist of the year, and our Senior Consultant, Prabal Lakhanpal, won the Emerging Talent award for service professionals.

Our team works tirelessly day in and day out to deliver the best, research-driven and innovative service to our clients, with the goal of always producing tangible results. All of our staff is encouraged to participate in educational and industry related events and organizations so they can continue to build their skills and knowledge, and Prabal is a prime example of this development and growth. Always at the forefront of employee benefits and how they intersect with captives, we are constantly thinking outside-the-box to help clients fund competitive benefits packages that makes sense for their organization, its culture and its risk profile. This has been a particularly strong year for us, and we thank Captive Review for the recognition.

Syzygy Insurance Co. v. Commissioner of Internal Revenue

What You Should Know

Recently, the Courts ruled that Syzygy Insurance Company (“Syzygy”), a micro captive created by Highland Tank & Manufacturing Co. and its Associates (“HT&A”) did not qualify as an 831(b) micro-captive entity between the years of 2009 and 2011. Federal courts have been especially assertive outlining bad fact patterns for certain captives, as seen in similar case results such as Avrahami v. Commissioner (“Avrahami”) and Reserve Mechanical Corp v. Commissioner (“Reserve”).

Understanding the criteria and results of these court rulings is imperative to ensure that your clients’ captives, or even your own, are appropriately managed and operated.

In this whitepaper, we outline an in-depth analysis of the court case and decision, and provide you with a checklist for ensuring compliance and validity for your captive, no matter its size. Download to learn more about:

  • Circular flow of Funds
  • Arm’s-Length Contract
  • Valid and Binding Policies

and more, so that your captive isn’t the next one getting negative press!

 

Spring to Present at RIMS 2019

This year the annual Risk Management Society (RIMS) conference is in our neck of the woods, which is very exciting! We are looking forward to playing host and showing colleagues and clients around town.

RIMS is one of the most renowned events in the risk management and insurance spaces, for which we have been proud sponsors and participants for over a decade. This year, we are delighted to not only be a sponsoring exhibitor, but to be speaking as well. Spring’s Senior Actuarial Consultant and Property & Casualty Practice Lead, Peter Johnson, will be leading a session, “IBNR: Your View Versus the Actuary’s” on Tuesday, April 30th from 1:30-2:30PM. He will be joined by Lynn Tenerowicz, Vice President and Chief Risk Officer at Baystate Health. The pair will be doing a deep dive on Incurred But Not Reported (IBNR) claims, covering:RIMS 2019 Speaker

  • Term definition
  • The differences between your view as the employer and an actuary’s on reporting and calculations
  • Different reserving methods and their pros and cons
  • IBNR industry trends and benchmarks across different coverage and benefit lines
  • Loss development methods
  • The effects of claim frequency and severity
  • The impact of IBNR on a company’s financials

The presentation will include a case study and plenty of graphics to help paint the picture for you. This session is great for risk and claims managers of all industries, or anyone simply looking to learn more about financials.

We hope you can make it! But if you can’t, please be sure to stop by booth 579 to chat with our team throughout the 3-day event.