May Day!

IanMay 1st is here and with it the signs of spring… new beginnings.

As you all probably have heard by now, Vermont’s intrepid Ian Davis is leaving the Mother Ship and heading off to a new position within the captive family as Senior Vice President, Captive Insurance Relationship Manager at People’s United Bank. Ian will be responsible for business development, qualification, expansion and overall relationship management for the bank’s captive insurance portfolio.

Ian served as Director of Financial Services at the Vermont Department of Economic Development, leading the marketing and business development activities in support of the State’s captive insurance industry for three years. In that role he stepped into large shoes left by Dan Towle, who is the current president of CICA.

I am so glad for Ian in his new position and so, so glad he is staying in our world of captive insurance. Don’t get me wrong: he will be missed in his role with the State as he was the consummate professional, truly representing Vermont’s best in captive insurance. But very smart of People’s to recognize talent by putting Ian in a leadership role in their captive insurance arena.

As the State looks to fill Ian’s position, the estimable Tim Tierney will step in as interim director. Tim is Director of Recruitment and International Trade at Vermont’s Department of Economic Development. He already was helping us on our planned Mexico Trade Mission this September, and I am looking forward to continuing our work.

So goodbye… and welcome, Ian! I look forward to our continued partnership and, more importantly, our good friendship.

Thank you and stay safe!

Rich Smith
VCIA President

Team VCIA + Team DED + TEAM DFR = Team Vermont

2You may ask yourself (and others) just how is VCIA going to pull off a successful 100% virtual captive insurance conference this August. Well, we are still working out the details, but one BIG reason I feel confident it will be great is the support and brainpower we get from our colleagues at the State of Vermont’s Department of Economic Development (DED) and Department of Financial Regulation (DFR).

Often, when I go to captive insurance conferences, people talk to me as if I were a regulator from Vermont. Not surprising, many folks conflate our distinct organizations because we coordinate so well with each other. I will then explain that, no, I am not a State employee but staff the captive trade association. And even though we are separate organizations with our own missions, we absolutely work in tandem for the good of Vermont’s captive industry.

Now is one of those times I am truly proud of that essential teamwork. VCIA staff met yesterday via Zoom with Ian Davis from DED and the captive leadership from DFR: Dave Provost, Christine Brown, Dan Petterson, and Sandy Bigglestone, to discuss ideas on the best ways to make the VCIA Virtual Conference truly awesome. The State folks brought excellent ideas, innovative thinking, and, most importantly, terrific enthusiasm to the process. Their professionalism and broad perspectives underscored just how lucky we are to have their partnership.

So, keep an eye out for details. We plan to bring you a terrific conference – and could not have done it without Team Vermont!

Thank you and stay safe!

Rich Smith
VCIA President

Go Big!

going-virtual

As you may have heard, VCIA decided this week to move our Annual Conference in August to a 100% virtual event.

This decision definitely was not made lightly. VCIA Board, staff and Conference Task Force members labored over the facts, sought outside advice, and kept you all foremost in our minds through all the discussions. Though the full social and economic impact of the pandemic is still unfolding, we believe it will require recovery time to get back to “normal” for all of society, including our industry.

Going to a fully virtual conference is consistent with the uncertainty the next few months brings and the need to put public health first, and it also ensures the industry will have an opportunity to share important and critical information – especially regarding future pandemic risk management.

The response from our members of going virtual has been very positive.  I know there are folks who think we may have made the wrong decision or that we should have waited longer before making the decision, and I understand their feelings. However, we knew if we were to bring you the best conference possible in a new virtual space, we needed to get out of the gate quickly.

By starting now, we are confident that VCIA will deliver a virtual event that satisfies your needs for top-level education and networking, our exhibitors needs to have their products and services seen, our sponsors desires to be associated with a leading enterprise, and the public health system’s need for social distance and caution. Presenting in a virtual space may also open up the conference to those who may not have been able to travel this summer. With corporate travel and finances being currently of concern, we hope this can be a helpful shift.

There will be much more information to come on conference specifics. For now, please bear with us and trust that VCIA has taken into account your needs. Your continued support will be key to the success of the conference, just as it has been for the past 30+ years.  We are successful in large part due to the enthusiastic and committed involvement of you, our members.

When times are tough, the captive industry has a way of adapting. We are fortunate to be among such innovative professionals, like you. We will all get through this together.

Thank you and stay safe!

Rich Smith
VCIA President