The PIC process has many “Stop – Go” decision spots. You decide when to proceed to the next step.

If you’re interested in learning if a PIC is viable for your business, contact us. You will speak with our alternative risk experts about the basics of your operations and your initial goals. During the course of these discussions, our experts will let you know if they see enough risks to support a potential PIC. If they do, they will suggest we proceed on to a formal Feasibility Study.ﾠ

Decision Point #2: Feasibility Study

If you decide to proceed with a formal Feasibility Study, we will send you a Feasibility Study Agreement which will outline the services we will provide and the associated fees.

Decision Point #3: PIC Formation – Application Preparationﾠ

If you decide to proceed with PIC formation, we will send you a PIC Formation Agreement which will outline the services we will provide and the associated fees. The fee for the PIC Formation is paid in two installments and is nonrefundable. We will work with you to select a domicile and to finalize the business plan.ﾠ

Once the PIC application has been prepared, it will be sent to you for final review and approval. The PIC application is a compilation of documents bound in a 3-ring binder. Note: Preparation time is usually 3 to 4 weeks.ﾠ

Decision Point #4: PIC Formation – Application Submissionﾠ

Once you sign off on the PIC application, it will be submitted to the insurance regulators for review. The second installment of the Formation Fees is due upon application submission. We will respond promptly to the regulators’ questions and requests for additional information. Note: Insurance regulator review time ranges from 3 weeks to 3 months, depending on the complexity of the insurance program and the workload of the regulators.