March 11, 2019

TUCSON, ARIZ. ─ At its annual International Conference today the Captive Insurance Companies Association (CICA) honored American Contractors Insurance Group Ltd. (ACIG) with the CICA 2019 Outstanding Captive Award.

“Promoting best practices through education and recognition is one of the cornerstones of how CICA delivers on its mission. For over 20 years, CICA has been honoring contributors who exemplify best practices and demonstrate the effective use of captives. Congratulations to this year’s winners and thank you for being industry leaders,” Dan Towle, CICA president, said.

The Outstanding Captive Award is presented to a captive insurance company or risk retention group that has shown creative uses for a captive, been successful in managing the captive in terms of net results and usefulness to its owners, has prevailed over difficult times or situations, and has gained acceptance, recognition, and a positive reputation among rating agencies, regulators and colleagues in the captive industry.

American Contractors Insurance Group Ltd. (ACIG), a group captive, got its start in 1981 as a Bermuda-based reinsurance organization. Over the years, ACIG formed its domestic insurance companies that provide direct workers compensation, employers liability, auto and general liability; and subcontractor default coverage for its 38 members, all of which are privately-owned U.S commercial construction companies.

ACIG’s mission is to save lives, prevent injuries and reduce the overall cost of risk for its members. Project Lifesaver, an aggressive loss reduction initiative, has achieved outstanding results over a 16- year period with reductions of: 54% in the loss rates for workers’ compensation, 80% for general liability and 30% for auto liability.

ACIG and its subsidiary companies carry an A.M. Best Company rating of “A” (Excellent), Financial Size Category “VIII” ($100 million- $250 million of policyholders’ surplus).

“On behalf of our construction industry members and team of insurance professionals, we’re honored to receive CICA’s Outstanding Captive Award. We look to CICA to provide critical information and support by way of its best practice publications. CICA’s International Conference brings together leading experts, thought leaders and service providers to a venue that encourages networking and sharing of best practices. Captives will continue to flourish and grow as they are deployed to finance a myriad of ever-expanding business risks,” Mike O’Neill, ACIG president and CEO, said.