Welcome Brittany!

I want to say a HUGE welcome from the Vermont captive insurance community to Brittany Nevins. As many of you have heard, Brittany recently joined Vermont’s Department of Economic Development as the new Captive Insurance Economic Development Director. She will be taking over from the estimable Ian Davis, now over at Peoples United (but still in our captive community!).

Brittany will be responsible for the marketing and business development of Vermont’s captive insurance industry, working closely with the Department of Financial Regulation and VCIA to continue to strengthen the state’s reputation as the premier onshore captive insurance domicile.  We have already had several calls and zoom meetings with hew and she is going to be great!

Located in Texas for the last 2 plus years, Brittany served as a community and economic development specialist for Travis County, Texas, managing its property tax rebate program for businesses that sought to develop in the Austin region. Prior to that, she was a policy specialist for the Texas Health and Human Services Commission, where she provided support for a variety of agency regulatory programs.

On top of all that, having lived in Latin America for a little while, Brittany is also fluent in Spanish. And as VCIA and the State of Vermont continue to explore connecting the Vermont captive industry to the Latin American risk management marketplace, it will come in handy. Although, she did warn me translating our nomenclature, such as non-domiciliary reciprocal risk retention regulations, will not just flow off her tongue! And it coincides nicely with next week’s Online Captive Trade Mission with Mexico which VCIA and the State are hosting on September 30th.  By the way, this event is free for VCIA Members – details here.

So, please take a minute to say “hi” to Brittany and welcome her into our wonderful community, like you did for me ten years ago. Her email is brittany.nevins@vermont.gov.

Thanks, as always, for your continued support in these trying times. I look forward to hearing from you!

Rich Smith
VCIA President

Vermont = Competence

I was looking at a LinkedIn message from Tim McQuiston, the editor of the Vermont Business Magazine, the other day and it reminded me of how important the competence of both leaders and agencies in the State of Vermont is to its citizens.

Tim reminded us that Vermont has used a combination of strict health protocols and impressive compliance by students to keep COVID case counts down, despite 40,000 college students back in the state and tens of thousands of tests conducted.

Vermont COVID numbers are low per capita and have been from the beginning. Not that there haven’t been challenges here and there, but Vermont’s Governor, Health Commissioner, and overall team (along with the Vermont General Assembly) have remained cool, calm, and collected. And part of the leadership in the Governor’s team is Mike Pieciak, Commissioner of the Department of Financial Regulation (DFR) – which, as most of you know, includes captive insurance. The Governor relies on Mike and his team to assist with the modelling of the COVID numbers and analysis using actuarial science. The work and reports being generated by Mike’s team are being used to inform the Governor, Health Commissioner, and all Vermont citizens. With this useful pandemic knowledge and insight, we are all better equipped to make good decisions.

Vermont has a history of being practical. Even us flatlanders who came to Vermont from other places seem to adopt that attitude – maybe it’s the weather. That practicality permeates the state and provides a sense of quiet competence regarding our leadership.  And nobody does competence better than DFR – let us all take a moment to acknowledge the great work the DFR staff continues to do, no matter the circumstance.

Thanks, as always, for your continued support in these trying times. I look forward to hearing from you!

Rich Smith
VCIA President

Back at It!

Labor Day has come and gone, and we here at VCIA are back at it! For those of you that joined us or contributed your time, energy, and talent to VCIA’s 35th Annual Conference and first-ever 100% Virtual Conference – thank you, again!

VCIA was able to present dozens of educational sessions, a vibrant exhibit pavilion with 56 booths, three Special Events, two Keynote Speakers, industry experts on every panel, nearly 670 attendees, and meaningful ways to network and connect with industry colleagues – all 100% virtually. Because of the hard work from you, our members, we were able to deliver an excellent program in a whole new way, and that in itself is a huge success! 

Now we are embarking on a  number of new events slated for the rest of the year, and we hope you will join us!

Due to the pandemic, we had postponed our travel to  Mexico City, where VCIA and the State of Vermont were planning to present a Captive Insurance Trade Mission this fall.  Happily, though, we are able to host a similar event remotely, coming up on September 30th!  VCIA Members are invited to join this online Trade Mission with Mexico at no charge and learn from our experts. The presentation is from 11 – 12:30 Eastern Time and will share information on captive programs and tax implications related to Mexico. Our contacts in Mexico will be on the line as well, and we will have translation services in place. Check out the details at this link and just email your contact information to info@vcia.com if you want to attend! https://www.vcia.com/Education/OnlineTradeMissionwithMexico/tabid/189/Default.aspx

On October 28th, VCIA will be hosting a webinar (CPE, Vermont CLE, ICCIE credit available) focused on how the captive industry has shifted to a “work-from-home” model. Join us for a rich discussion on the difficulties faced and opportunities found while working remotely as part of the captive insurance industry. Our panel will share the many ways that societal shifts have pushed us all to think outside the box.   Unique perspectives will be shared from a captive manager, a captive owner, an insurance regulator, and a startup founder in artificial intelligence designed for captives. Join us for ‘Working Remotely in the Captive Realm.’

There will be lots more to come for the end of the year. Thanks, as always, for your continued support in these trying times. I look forward to hearing from you!

Rich Smith
VCIA President