One of the concerns that percolates every so often in the captive insurance industry is the need to attract young, bright people to this particular version of risk management. What one of captive insurance’s more thoughtful leaders, Michael Bemi of The National Catholic RRG, calls the graying of the industry. Of course, many trades face this conundrum including the traditional insurance industry; but it is a valid concern for our industry as well.
Well, having just returned from a trip to Philadelphia where I met a bunch of young, bright students of risk management from Temple University, I can say there is hope for us all! As many of you know, VCIA hosts a number of half-day seminars around the country extolling the virtues of the captive insurance industry (and maybe the virtues of Vermont as a domicile) – we call it our captive Road Show – and we held one in Philadelphia earlier this week. There, Mike Zuckerman, a professor at Temple’s Fox School of Business in Risk, Insurance and Healthcare Management, and an involved VCIA member and advocate, brought a dozen or so of his students to hear firsthand about captives. And they heard from the best: Anne Marie Towle, Vice President and Senior Consultant, Willis Global Captive Practice; Eric Dethlefs, President & CEO, Cassatt Insurance Group; and Glen Welch, President, Cooperative Partnership Insurance Company. And, of course, the dynamic duo from Vermont: Deputy Commissioner Dave Provost and Director of Financial Service Dan Towle.
It is always a heartening experience as we “older” folks grumble about the youth of today, to meet young folks like this. The students were attentive and poised. They showed real interest in the captive industry and asked great questions. I will continue to be concerned about where the next generation of captive professionals will come from, but meeting these fine folks lets me sleep better at night!
Thank you all very much, and I look forward to hearing from you soon.