CIC Services Launches Tenant Liability Captive Insurance Program

CIC Services has launched PortfolioVantage, a tenant legal liability program designed to help qualifying property owners place coverage for tenant-caused damage within a captive insurance company.

The program combines captive formation and management services from CIC Services with technology from ePremium for tenant enrollment, compliance tracking, and coverage monitoring. According to CIC Services, PortfolioVantage is intended for qualifying owners, operators, and managers of multifamily, single-family rental, and commercial properties.

Property owners commonly require tenants or residents to carry liability coverage for damage they may cause to a building. Under PortfolioVantage, tenant legal liability coverage is placed within a captive established for the participating property organization.

CIC Services said the captive may retain underwriting profit when premiums exceed eligible claims and program expenses. Actual results would depend on factors including premiums, losses, expenses, and the captive's overall performance.

ePremium provides the program's technology infrastructure. Its platform supports enrollment administration, identifies missing or lapsed coverage, tracks compliance, and provides information across participating properties. The technology can also integrate with property management systems.

CIC Services provides captive feasibility analysis, formation, compliance support, and ongoing management. Before proceeding with a captive, the company reviews factors such as the organization's property portfolio, potential premium volume, loss history, and long-term objectives.

As a participating captive develops, the property organization may also evaluate whether other exposures are appropriate for inclusion. CIC Services identified property deductibles, cyber liability, employment practices liability, and equipment breakdown as possible areas for consideration.

PortfolioVantage became available on September 1.