Student Essay Contest
The annual CICA Student Essay Contest invites two-person teams of college students from a variety of disciplines including insurance, risk management, actuarial science, finance and business management.
Contest DetailsThe Challenge
Students are asked to analyze and design a captive insurance structure to address their case study’s prime insurance risks and explain the rationale behind their conclusions.
Sponsored by:
We hear from young professionals they want to be challenged in their careers and they want to make a difference. Captive insurance provides those types of opportunities.”
Dan Towle, CICA President
About the 2025-2026 CICA Student Essay Contest
Temple University students Sajjad Alloo and Gabriel Albertson received first-place honors and a $2,500 prize in the 2025-2026 Captive Insurance Companies Association (CICA) College Student Essay Contest Captive Insurance Solutions for Today’s Risk Management Challenges. The contest is sponsored by Hylant Global Captive Solutions (Hylant GCS).
Second place went to Elizabeth Jouini and Isabella Martinez from St. Mary’s University with a $1,500 prize, and third place went to Noah Oachs and Zoey Bendewald from the University of Wisconsin-Madison with a $1,000 prize.
You can read the final essays, published in Captive Insurance Times, by clicking here.
Contest Details
The CICA 2025-2026 Student Essay Contest “Captive Insurance Solutions for Today’s Risk Management Challenges”, sponsored by Hylant Global Captive Solutions, invites students to select one of three case study topics for the competition. Students will analyze and design a captive insurance structure to address the case study’s prime insurance risks and explain the rationale behind their conclusions.
Contest Timeline
October, 8 2025 | Webinar for interested students.
October 17, 2025 | Intent to participate deadline. Student teams can submit Intent to Participate Form. Note: you can still submit a final essay even if you do not submit the Intent Form.
November 13, 2025 | Essay submission deadline. Student teams submit using the Final Essay Submission Form.
January 14, 2026 | Top three finalist teams notified.
March 8-10, 2026 | CICA International Conference.* Finalists present essays and first, second and third place are announced.
April 2026 | Finalist essays are published by our media partner Captive Insurance Times post-Conference.
*Need-based scholarships for travel and lodging may be available to finalists attending the conference who do not have other funding options.
Contest Awards
Cash Prize
1st Prize: $2,500
2nd Prize: $1,500
3rd Prize: $1,000
CICA International Conference
Finalists receive free registration and will present their winning papers with accompanying professor or dean. Attendance at the conference is required to place.
Publication
Winning entries published by Captive Insurance Times and on the CICA website.
Official media partner:
Contest Rules
Teams: College students work in teams of 2 students per essay. The CICA Essay Contest is open to undergraduate students. Entrants must be pursuing their undergraduate degrees at the time their essays are submitted
Essay Length: 10 pgs. maximum Word document, not including bibliography and sources (double-spaced, 12 pt. font in Times New Roman or Cambria)
Prior Publication: Essays may not have been previously published (online or in print) or be in consideration for publication elsewhere
Judging: Essays will be judged by a team of CICA Members. No more than one team per school can advance to top three
Case Studies
Select one of the three case study options and develop a captive insurance solution.
Diamond Cruise Line
Case Study # 1
Diamond Cruise Line is the newest cruise line to set sail offering sailings in Europe, the Caribbean, Mexico and Alaska. The fleet has 10 cruise ships, two new ships currently being built, and 15,000 employees. Each ship holds about 3,000 guests with an average sailing schedule of seven nights. Diamond Cruise Line owns a private island in the Caribbean, exclusively reserved for its cruise guests to enjoy. When sailing with Diamond Cruise Line, additional travel insurance may be purchased directly through the company to protect their trip.
Diamond Cruise Line has significant insurance risks, related to safety, weather, operations, employees, technology and more. Management is deciding whether to explore captive insurance to better manage the cruise lines’ areas of risk.
Diamond Cruise Line is experiencing increasing insurance premiums and limited coverage options from traditional insurers for several of its top risks: General Liability, Entertainment, Worker’s Compensation, Builder’s Risk, Weather / Event Cancellation, Travel Insurance, Marine, and Communicable Disease.
The Corner Basket
Case Study # 2
The Corner Basket is a regional grocery store chain operating throughout the Southwestern United States, with current locations in Texas, Southern California, Arizona, Louisiana, New Mexico, Oklahoma, and Nevada. With 900 stores across these seven states, the company is preparing to expand into Utah and Colorado by the end of 2026, adding 100 new locations. Known for its neighborhood-focused approach, The Corner Basket has built a strong reputation for offering high-quality meat and produce, fostering deep community connections through support for local farmers and artisans, and promoting sustainable initiatives. The store also embraces modern conveniences such as online ordering, curbside pickup, and a customer loyalty program.
In its daily operations, The Corner Basket faces a range of challenges, including workplace safety concerns, supply chain disruptions, regulatory compliance requirements, and cybersecurity risks. These operational complexities have contributed to rising insurance premiums and limited coverage options in the traditional market. As a result, The Corner Basket is undertaking a comprehensive review of its insurance program, with a particular focus on the following lines of business: Cyber Liability, Workers’ Compensation, General Liability, Product Liability, Employment Practices Liability, Business Interruption, and Equipment Breakdown.
Newbies Baseball League
Case Study # 3
The Newbies Baseball League is a not-for-profit organization that has a mission of promoting youth development through baseball. Partnering with schools in Michigan, Illinois, Indiana, and Ohio, the organization is looking to expand their outreach. There are currently four leagues including: tee ball ages 4-6, minor league ages 7-10, major league ages 11-12, and senior league ages 13–16. Each state has approximately 12 leagues, with around 150 players in each league, bringing their total roster to around 7,200 players, and growing. All coaches, umpires, and concession crew members operate on a volunteer basis.
Newbies Baseball League is looking to invest in a fleet of buses so teams can compete outside of their home state. There will also be a pop-up concession stand at each game where hot dogs, chips, candy, soda, water, and Gatorade will be sold. Newbies Baseball League would like to explore the idea of a captive to help with their insurance needs.
Coverages for exploration include property damage, as each ballpark requires the organization to take accountability for damage to the property during each weekend of baseball, general liability, theft and crime coverage, and the addition of auto liability and auto physical damage with the addition of fleet buses.
Next Steps
Choose Your Case Study and Develop a Captive Insurance Solution
- Research the industry and the emerging risks your type of company faces
- Identify coverage gaps, premium increases, or other issues related to the current commercial insurance market
- Make a recommendation and explain to management why a captive insurance solution may be a better risk management option
- Identify the top three lines of insurance coverage that are to be placed in the captive
- Recommend a captive structure (pure, group, cell, etc.)
- Help create a captive solution for the three coverages you have identified
- Prepare a strategy for the future of the captive
- Please provide support for each recommendation
Note: Domicile selection is not part of the assignment and should not be included in the essay
Starter Resource List
- Hylant Insights (Contest Sponsor)
- CICA – Industry Research & Industry Trends
- CICA – Captive Insurance Glossary
- Captive Insurance Times (Media Partner)
- Captive.com – 101-What is Captive Insurance
- Hylant Team – Members of the Hylant team are available to students to answer questions
CICA 2025-2026 Essay Contest Webinar Recording
Students interested in learning more about the CICA College Student Essay Contest, sponsored by Hylant Global Captive Solutions (GCS), are encouraged to watch this overview webinar. Viewers will be introduced to the Hylant team members who will serve as mentors and learn about the case studies.
Previous CICA Essay Contest Winners
- 2026: Sajjad Alloo and Gabriel Albertson, Temple University
- 2025: Rachel Claire Gibson and Ella Pernsteiner, University of Wisconsin-Madison
- 2024: Bailey Sims and Harrison White, Butler University
- 2023: Olivia Faulkner and Zane Smith, Saint Mary’s University
- 2022: Matia Daskalos and Vincent Palmieri, Temple University
- 2021: Ashley Martin and Max Bernstein, Saint Joseph’s University
- 2020: Megan Moore and Natalie Kojababian, University of Southern California
- 2019: Angel Song and Alana Vicale, Temple University