The Closer

Don’t miss the VCIA Conference Aug 10 – 12! Panelists for the ‘Hot Topics with Dave Provost’ session, from L to R: Tracy Hassett, Steve Legg, Sandy Bigglestone, Ellen Charnley and Dave Provost

OK, enough with the procrastination! The VCIA Annual Conference starts August 10th, and because it is virtual, folks tend to wait until the last minute to sign up. I understand! But online registration for the event closes Monday at noon – so NOW is the perfect time!  

Besides all the great educations and networking opportunities, the one event during the conference that everyone waits for is Hot Topics with Dave Provost. For those few of you who don’t know Dave, he is the preeminent captive insurance regulator in the world (don’t take my word for – ask anyone) and his knowledge, experience, and sense of humor, provides just the right closing to our much-anticipated captive conference.

The distinguished group joining Dave (see photo above) are Sandy Bigglestone, Vermont’s Director of Captive Insurance (and Dave’s right hand woman).  In 2018, Sandy was a recipient of the Women to Watch Award for her leadership, expertise, and accomplishments in the captive insurance industry by Business Insurance. Ellen Charnley, President of Marsh’s Captive Solutions Practice, is recognized as a global leader in the captive industry. And, Steve Legg, who has been with Starbucks since 1997, serving as director, risk management since 2006. Aptly moderated by VCIA board member, Tracy Hassett, President and CEO of edHEALTH, a first of its kind consortium of colleges and universities with the mission of reducing health care costs while enhancing consumer knowledge of options, plan design, disease management and wellness programs.

This epic group will get you totally up to speed on current developments in captive regulation, key issues facing the industry, future initiatives, increased interest in captives as a response to challenging markets, and much more. You can even ask them questions and provide comments of your own. Don’t miss it!  

So, take this moment to register for VCIA 2021!  Join these experts  and other audience members and share your experience and insight to make the conference even better. YOU are what makes this event incredible!  Check it out here and Register Now!

I look forward to seeing you next week!

Rich Smith, VCIA President

This Week’s All Stars

Some of the many Captive All-Stars who presented this week at WCF — Bravo all!

I attended the virtual World Captive Forum this week and it was great to see many friends over the two days. I was working the Vermont booth (remember those days…) so was not able to see all of it, but there was some good stuff on several sessions I was able to join.

The regulators panel with Vermont’s own Dave Provost, Deputy Commissioner – Captive Insurance, Vermont Department of Financial Regulation; Carl Culmer Jr., Manager – Policies and Practices, Insurance Commission of The Bahamas; and Travis Wegkamp, Director of Captive Insurance, Utah Insurance Department was ably moderated by Joe Holahan of Morris Manning & Martin LLP (and member of VCIA’s Legislative Committee). It was good to hear that each domicile was more or less in synch with each other as they discussed legislative and policy updates, new and emerging risks, and the outlook for the captive industry post-pandemic.

Dennis Silvia, Davies Captive Management and VCIA board member, did a super job with his panel, The Art of the Cell (very clever!), outlining the dramatic increase in the popularity of the use of cells and how they are currently being utilized in risk financing programs.

The topic of the hard market and evolving global risk landscape was of course a prominent area of focus throughout the conference. Another terrific panel highlighted the importance of captives in long-term risk financing and risk management planning. Deyna Feng, Director, Captive Programs at Cummins Inc.; Mike Maglaras, President of Michael Maglaras & Company; and Anne Marie Towle, Global Captives Insurance Leader of Hylant (another VCIA board member) discussed how companies are re-defining their risk appetite to take control of their own destiny by using captives to complement traditional insurance placements and fill coverage gaps. Anyone who has not yet had an opportunity to meet Christine Brown, Assistant Director of the Captive Division in Vermont’s Department of Financial Regulation, moderator of the session, should check out this rising star!

And speaking of the captive insurance firmament, the all-star panel of Sandy Bigglestone, Director of Captive Insurance at Vermont’s Department of Financial Regulation (Women to Watch winner 2018); Ellen Charnley, President of Marsh Captive Solutions (Women to Watch winner 2018); Karen Hsi, Program Manager- Captive Programs, University of California Office (Break Out winner 2020); and Amy Evans, Executive Vice President, Intercare (Women to Watch winner 2020) did an amazing job explaining why captives are well suited for crises such as a pandemic, hardening market and social unrest.

Great job all around!

An update from my blog on February 5th challenging you to identify the people in the 80’s era photo. Maria Young of Alcoa, who was present at the party, won the box of chocolates for identifying most of the group. She was an insider, but there was nothing in the rules that said the people there could not answer! Here is who was in the photo:

Diane Leach; Mary Wrenn (now Woodward); Gary O’Hare ; Maria Young; Cynthia Reer (now O’Connor); Sue Urie; Jeff Kenneson; Scott Whittemore; Kate Westover; Nikki Kuhn.

Thank you and I look forward to hearing from you.

Rich Smith
VCIA President