Happy Holidays and See You in 2018


I just wanted to wish all of you Happy Holidays as we head out of 2017 and into 2018. It’s been another busy years in captives, that included a horrific hurricane season, the decision of the Avrahami case on 831(b)s, the specter of continued cyber security issues with the hacking of Equifax (among others), and the soon-to-be-passed Tax Reform bill – all of which impact our industry.

That being said, captive insurance is growing and remains a robust part of the world’s risk management sector. Vermont broke through the 1000 captive license mark and looks to add around 25 new captives before year’s end. With challenges and opportunities that lie ahead such as healthcare, drones, (more) cyber risk, and AI (artificial intelligence – get used to it), captives will show how entrepreneurial and innovative our industry can be!

Thank you all for another great year and Happy New Year!

Rich Smith
VCIA President

It’s a Wrap


You gotta’ believe… that Santa Clause has a captive. I mean, just look at all his exposures worldwide. You got workers comp (oy, the elves!), stop-loss (again those pesky elves), liability (its icy up there you know and not everyone has a welcoming chimney), product warranty (they don’t build them like they used to), and throw in a little weather related cat bond, and you have the full boat (or sleigh as it might be).

And, of course, where else would he domicile Rudolf Red Nose Insurance, but in the domicile that most resembles his organization – Vermont. Efficient, honest, professional, and of course, cold this time of year.

Thank you all very much, and I hope you all have Happy Holidays and a wonderful New Year – see you in 2017!

Rich Smith
VCIA President