I had the opportunity to sit down with the Vermont chapter of the CPCU Society this week and discuss the world of captive insurance. Now, not being an underwriter, nor coming from the broader world of insurance, I knew I needed a real practitioner, a wingman of sorts, to bail me out when the questions about “claims made” vs “claims incurred” came fast and furious. So I called on my friend, David Guerino from Willis’ Captive Practice in Burlington, to provide cover (as usual, he did an outstanding job). And the questions and interest from the members was terrific!
This was a great example how those of us in the captive insurance world can branch out and engage our sisters and brothers from the less glamorous insurance sector and preach the gospel of captives. I know many of you do get out and talk to brokers, underwriters and others in the traditional insurance realm about captives and I think it has been a huge benefit to both sides (not that there really are any “sides” any more). So keep it up and let me know of any opportunities where VCIA can do more of the same!
On another issue, I just want you all to know that we are working with various stakeholders regarding the proposed rules by the FHFA that would bar captives from participating in the Federal Home Loan Bank program that is open to all other insurance companies. Stay tuned.
Please join VCIA on September 24th from 2:00-4:00pm EST for our next webinar entitled: Exploring RRG Opportunities & Challenges: Past, Present & Future. Register online at http://www.vcia.com/Education/WebinarCalendar/tabid/111/Default.aspx
Thank you all very much and I look forward to hearing from you!