CIC Services has expanded its EnviroCap Liability programme to provide additional cover within a captive insurance structure for businesses facing rising insurance costs and limited coverage options.
The updated programme now includes auto liability, workers’ compensation and general liability, alongside its original focus on environmental risks.
Structured through a captive model, the programme enables business owners to create tailored policies, retain underwriting profits, and manage claims more directly.
EnviroCap was first launched in 2021 through a partnership between CIC Services and Environmental Risk Managers (ERMI), offering a way for firms to address pollution risks excluded from standard policies.
Its expansion comes as commercial insurance premiums continue to rise, with the Council of Insurance Agents and Brokers (CIAB) reporting 29 consecutive quarters of increases.
In Q4 2024, average commercial property and casualty premiums rose by 5.4 per cent, with liability lines seeing higher deductibles, reduced limits and more exclusions.
The company says under the enhanced programme, qualifying businesses can form their own captive insurance company, supported by an AM Best ‘A’-rated carrier.
Key features include customised multi-line coverage, premium stability, potential tax advantages, asset growth through retained profit, and greater control over claims handling.
The programme is designed for mid-sized businesses in sectors such as construction, manufacturing, waste management and transportation, where traditional insurance may fall short.
“Too many business owners are realising too late that their insurance doesn’t cover what they thought it did, or that premiums have outpaced the actual risk,” says Tim Welles, principal at CIC Services.
Welles adds that EnviroCap is “a strategic tool” that allows companies to move from being “price-takers in a volatile market to decision-makers with a plan”.
Chris Bunbury, president of ERMI, notes: “Policyholders are getting hit from all sides — pricing, exclusions, uncertainty. What EnviroCap offers now is not just targeted environmental coverage, but a true alternative to the traditional insurance model.”
Bunbury says the programme’s evolution is necessary, as risks have expanded beyond environmental exposures. “We are seeing exclusions and cost increases in auto, comp and even general liability. That is why we evolved the programme — because the risks have evolved.”
