Thank You!

Just a quick post to say a huge THANK YOU to all who participated in VCIA Virtual 2020!

It was quite an experience for us to transform our usual captive insurance conference into an online 100% virtual event. And although it was sad not to have been able to see everyone in Vermont this year, it was heartening to get so many nice comments from many of the participants.

I am proud of our staff and members for pulling this off in the short mount of time we hade to learn the ropes and make the conversion. To all our expert panelists who so gamely made themselves available to the attendees – thank you!

And a huge thanks to all our exhibitors and sponsors without which we would not be able to present all the great content that will now be available until the end of July next year. Special thanks to our Platinum Sponsors:

  • A.M. Best
  • Kroll Bond Rating Agency
  • Madison Scottsdale
  • Old Republic Companies
  • Performa
  • Sedgewick
  • and the State of Vermont

I look forward to seeing everyone in Vermont next year!

Rich Smith
VCIA President

It’s Not Too Late to See Cool Stuff

VCIA Virtual 2020 starts Tuesday, August 11th, and it’s not too late to check it out and register!

One of our sessions, Digital Transformation and Opportunities: What the Captive Market Will Look Like in 2025, will feature a case study describing the progress and results of a Vermont-based working group who had been addressing issues like high administrative costs, lack of capacity of insurable and emerging risks, and inefficient value chain structure.

The panelists will discuss how they have engaged with stakeholders to drive digital transformation and business innovation, economic growth, and enhance captives in Vermont and beyond. The panel includes two of our favorite people from the captive owner’s perspective: Courtney Claflin, Executive Director, and Karen Hsi, Program Manager of Captive Insurance Programs for the University of California.

On top of that, panelists Marcus Schmalbach, chief executive at RYSKEX, recently was named as the winner of the Lloyd’s Lab Fusion event, designed to test early-stage start-up ideas aimed at dealing with COVID-19 and other systemic risks.

The Lloyd’s Lab Fusion event ran from July 21-23 and was supported by innovators from more than 10 Lloyd’s of London managing agents, with ideas assessed by a panel of judges from the Lloyd’s Corporation and Market.  RYSKEX program focused on developing cover for widespread, long-lasting power outages in the US power grid. RYSKEX proposed to bring together insurers, customers, and capital markets to develop parametric coverage for this systemic risk.

Lloyd’s said it was singled out for its “highly ambitious plan which supports Lloyd’s commitment to progressing solutions for global industry and government partnerships to fast-track society’s recovery from COVID-19 and provide greater resilience to future systemic risks.”

And last, but not least, the panel will be rounded out by John Donald, who ran his own risk consultancy advising on geopolitical and cyber risk before joining Axis Capital as a Cyber Adviser in February 2019. John is the author of three books. His first book “Catataxis: When more of the same is different” was published in October 2011 by Quartet Books. His second book “Bolt from the Blue: Navigating the new world of corporate crises” was published by Elliott and Thompson in 2013. The third “35 Views of Cyber Risk” was published by AXIS Capital in 2019.

Now that’s a panel not to be missed! Check out this behind the scenes look at the conference by viewing this brief video: https://youtu.be/X6UOlgcGWxQ

Register today for VCIA Virtual!

See you next week!

Rich Smith
VCIA President