Before we gather for #VCIA2022, a few major changes have been placed on the horizon for the State of Vermont and its preeminent Captive Insurance regulatory team–Mr. Captive himself, Dave Provost, retiring into the sunset; his heir apparent, Sandy Bigglestone, ready to assume the Deputy Commissioner role; and now Christine Brown, respected throughout the industry, promoted to Director of Captive Insurance. All three diligent, hard working, and great collaborators. And all three have spent years making Vermont the Gold Standard for captive domiciles. To me, that’s the definition of a stable “transition of power,” and it will only make more captives flock to the Green Mountain State.
The official press released arrived in my email on Wednesday and you can read it in its entirety on the Vermont Captive website. The good folks at the State of Vermont quoted me on the appointment of Christine Brown to the position of Director of Captive Insurance at the Department of Financial Regulation (DFR): “The quality and stability within captive regulation in Vermont is proven yet again. What an awesome choice to have Christine Brown succeed Sandy Bigglestone as the Department of Financial Regulation’s next Director of Captive Insurance. Christine has a long relationship with the VCIA and has served as a thought leader within the industry for many years. All of my colleagues here at the VCIA join me in wishing her the best in this appointment, and we look forward to seeing her in a few short weeks at the VCIA conference.”
And I meant every word of it! In my short time with the VCIA I have already called in favors from Christine that I had not even built up – and she has always delivered. That Vermont has promoted from within for two critical positions speaks volumes of the talent its captive team has retained and cultivated.
At this year’s VCIA conference you will find Christine at the State of Vermont booth, #40, and around conference events. She’ll be speaking at Captive Immersion on Monday and will cohost a discussion group on Tuesday. Be sure to connect with her and congratulate her on her well-deserved promotion!
Only 17 days until #VCIA2022 kicks off and I don’t want you or your colleagues, or frankly anyone you know related to the captive insurance industry, to miss out! Please be sure to register on our website here. See you in breezy Burlington in August in just a few short weeks!
From our planning committees and design process for #VCIA2022, two major themes emerged that we have cultivated and set to be front and center when the captive world comes to meet in Burlington August 8-11th (and coming quite soon, I may add!). We’ve had endless conversations with different key players and organizations in the captive industry and they identified these same elements that have been sorely lacking during the remote days of the pandemic. The big #VCIA2022 themes are: collaboration and innovation.
What is collaboration and why is it important? To me, it’s the exercise of bringing different perspectives and experiences together to solve an industry challenge or open up a pathway for new opportunity. Collaboration will take shape through conference educational sessions, and especially so with #VCIA2022 Discussion Groups. There are 7 Discussion Groups led by outstanding individuals who not only know their material, but are passionate about it. These will be engaging, back-and-forth discussions, with an emphasis on inclusivity and openness to making things work. That’s what collaboration is all about. See our LinkedIn posting below for more info!
Innovation–the Latin root of which comes from innovare for renew, or to make new–will be demonstrated by over 70 exhibitors at #VCIA2022. Whether it’s a new product or a reliable service, you’re bound to connect with companies that have come from all over the country to show you how they can help move your business forward. I’m personally excited for the conference opening reception, taking place in the exhibit hall at 4:30pm on August 9th. This will be the time to hear about the latest developments, to catch up with colleagues, make new connections, and get creative answers from a swath of talented people. Check out our exhibitor map below and make notes on who you want to see!
We’ve also built innovation into the conference through special Ignite Talks. Only in its second year, Ignite Talks are VCIA’s opportunity for the industry to distill important topics into a condensed and compelling presentation akin to the very popular TED Talks TM. The VCIA Ignite Talks are delivered by some of the finest captive minds we know and these bright folks will impart valuable knowledge relating to the captive insurance community. They serve as a platform to problem solve an issue or unpack a complex facet of the captive industry. This presentation model works precisely because it is time limited and keeps the audience’s attention with messaging that resonates. Plenty of time is reserved for a Q&A session to ensure your team directly engages with conference attendees. The Ignite Talks will take place at the Ignite Stage in the Exhibit Hall and the Amphitheater. Be sure to save some time to stop by one of these exciting talks and check out our incredible lineup!
24 days until #VCIA2022 week begins and we innovate and collaborate industry-wide! Be sure to share our registration page with colleagues/friends/other businesses who should be attending that haven’t signed up yet!
Ordinarily, my blog posts all somewhat upbeat and (to me at least) somewhat amusing. This is not to be one of those weeks. Because this week, the VCIA, the Vermont captive industry and indeed the captive community globally is marking the passing of Andy Sargeant, formerly of USA Risk Management. Andy’s retirement predates my arrival here at the VCIA and so I have to leave it to his good friend, Gary Osborne, to remark, “He was a great friend to our community and especially the Vermont community where he added his expertise and knowledge to both the VCIA and ICCIE boards.” Gary goes onto say that Andy was, “one of those rare things – a well-liked and loved boss.” Vermont’s Seven Days newspaper ran a very touching obituary of Andy, and you can find it here.
Please look for a more extensive tribute to Andy in our August newsletter. More importantly, please hold Andy, his family and all those that cherished his friendship in your thoughts at this sad time.
With our early bird period in the rearview, and 700 and counting registrants (!) , we gear up for one more month of celebrating all things #VCIA2022, before our flagship event takes center stage of the captive world in August. By now, you know how important the networking and educational sessions will be. Let me turn your attention to why our two worldly #VCIA2022 keynotes are worth your price of admission. For both history buffs and people interested in politics and economics…we have you covered!
First, let’s start with our Special Keynote Speaker who will be closing out #VCIA2022 on Thursday August 11th with an inspiring speech and luncheon. US Navy Admiral Michelle Howard has not only commanded ships at sea but also a deep respect from all branches of the military. She’s a groundbreaking leader who has seen it all, enjoying a distinguished career in national defense within the areas of operations, readiness, and strategic planning.
What stories can she tell? Plenty! A veteran of operations that included NATO peacekeeping, Indonesia tsunami relief, Desert Storm and Iraqi Freedom, she was thrust into the international spotlight in 2009 as leader of the counter-piracy task force that rescued civilian Captain Richard Phillips from Somali pirates!
Hear from her a preview of what she’ll be talking about in her keynote address.
Next to an iconic military figure, The VCIA Conference has paired a geopolitical whiz as the second keynote speaker. Michael Weidokal, an internationally-recognized economic and geopolitical forecaster who helps business leaders and policy makers comprehend the issues and trends that are impacting the world today AND tomorrow, addresses #VCIA2022 attendees on Tuesday August 9th at 3:45pm.
Michael is the president and founder of International Strategic Analysis (ISA), a leading provider of economic forecasting, international market intelligence and geopolitical analysis with clients all around the globe. ISA is one of the world’s most respected economic and geopolitical research firms, providing research and support for thousands of the world’s leading businesses, governments and universities. Get a glimpse of what he will share at our conference below!
Have a wonderful, long Independence Day weekend, everyone. Can’t believe we’re basically just a month out from our dynamic captive conference. Thank you to everyone who has worked hard to put it together and additionally to everyone has registered so far. We couldn’t do this without you. P.S👉 registration link for folks that missed the early bird bus. It’s still a great deal! And don’t forget to sign up for our golf tournament!
The Vermont state bird is the Catharus guttatus, more commonly known as the Hermit Thrush. However, the VCIA organizational equivalent is Primo Avis Mandare, for those not up on their Latin–the Early Bird! Leaving just as the Hermit Thrush arrives for its summer visit, the Early Bird’s call is ‘cheaper, cheaper!’ If you’re not quick you will miss its beautiful song because this seasonal visitor departs in just 6 days, having been seen by over 500 people. Primo Avis Mandare is certainly not shy and likes all kinds of attention, so grab your bird call whistle and binoculars and make sure you register for the 2022 VCIA Conference before the clock strikes midnight on Friday July 1st when Early Bird migrates away! I suggest you dally no longer and secure your spot at the captive industry’s biggest and best summer conference by booking your attendance via this link.
VCIA’s 37th Annual Conference–our first in-person in 2019–promises to be an outstanding week of special events, productive networking, and, I’m not afraid to say it, the best captive education you’ll find on the planet.
The variety and depth of sessions, all incorporating the latest trends, emerging risks, and legal contexts, form the foundation of #VCIA2022. You will discuss captives and collaborate on ideas related to climate change, social inflation, tax developments, InsureTech (to name just a few). Simply put, nothing can match that experience without being on the ground in Burlington, Vermont the week of August 8th. Hundreds of captive professionals tend to agree with my perspective. We have attracted a strong crowd to register for the conference already, and we expect our current 500+ count to surge as the expiration of the discount approaches.
A major focus of mine as the new VCIA president is value. What value has VCIA brought to its members and stakeholders in the past and how can I improve upon that? I meet with people and companies on a regular basis to hear their needs and understand how VCIA can help. In the same way, #VCIA2022 is all about value. We’ve built into a week’s schedule as much as quality possible so you benefit from the value of the finest captive educational content and networking opportunities.
Don’t just take it from me. Dozens of talented captive professionals have been working hard for months to produce something special. I refer to the Conference Task Force and VCIA’s Director of Education and Programming Diane Leach. The 2022 Chair of the Conference Task Force, Ian Davis, Senior Vice President, Captive Insurance Relationship Manager at People’s United Bank, realizes the anticipation for #VCIA2022 is growing and can’t wait to share the fruits of our team’s labor. “We know how much it means for the industry to get together and you will see that on full display at the conference, guaranteed. We’ve designed the conference to emphasize engagement, to explore important ideas and how they can benefit our companies, and to celebrate how we all are moving the captive world forward.”
I for one am proud as hell for all the blood, sweat, and tears we’ve put into our Annual Conference. I’m also super excited. Together with some of you, this will be my first VCIA Conference, and I am really looking forward to being able to start and build relationships and connections that will mutually benefit the VCIA and the entire industry.
As registrations for the VCIA’s August 2022 Conference climb, I am hearing feedback from members and non-members alike as to how pleased they are to be able to get back together again. In particular, there’s another large group that we are looking forward to seeing and serving at the event—the next generation of captive professionals. Here’s my pitch as to why they should come to #VCIA2022
Since our last in-person conference back in 2019, there’s been a considerable number of new entrants to the professions around the captive industry. Additionally, there is also a group that at that stage was early in their careers and have had limited in person networking opportunities. I am particularly interested in visiting with folks in these two groups— finding out what interests them, what they want to learn, and how our association can support them—because they broadly represent the future of the industry and of the VCIA.
A passionate advocate for captive careers and injecting the industry with youth and creativity, Brittany Nevins, the State of Vermont’s Captive Insurance Economic Development Director, thinks the VCIA Conference recognizes the importance of catering to a larger, newer base of professionals in our self-insurance industry. “There is a shift happening across the industry to intentionally focus more on bringing people into the captive industry as a career path. This shift in focus is visible throughout the VCIA Conference in various educational and networking opportunities. New professionals have more opportunities to speak on panels and share their unique and diverse perspectives, to ask one another how we can be more supportive, and how veterans in the industry can create opportunity. There’s much work to be done but it’s clear that this is a priority for the VCIA.”
The carefully curated content of #VCIA2022 makes for strong professional development opportunities for young and new captive companies and employees. Captive Immersion on Monday 8/8 is a comprehensive program on the basics of the industry. There’s also Captive 101 the next day as well as a number of sessions categorized as “beginner” level that would be appropriate and beneficial to someone with limited experience under their belt.
Besides the important content for young professionals, there’s also the credit. In one place, you can earn numerous CPE credits and boost your value to your company. And as I mentioned above, networking—actually establishing relationships, face to face, with different people in all kinds of captive roles—is invaluable and has been sorely lacking these last few years. #VCIA2022 plans to fix that from the moment you arrive in Burlington.
At the cocktail reception for Captive Immersion, you can connect with some industry leaders and VCIA Board members. On Tuesday, check in at the Newcomers Orientation and a Conference Ambassador can give you tips on how to leverage your time at the conference. Then there’s the opening reception in the Exhibit Hall where everyone will be kicking off the week in good spirits. You can also participate in networking lunches and there’s plenty of space at the conference to set up private meetings. Finally, our evening reception at the snazzy Hotel Vermont will be special. It’s a farewell tribute to Dave Provost and anybody and everybody in the captive industry will be there.
So for young professionals, we want to make sure that you get the most out of the upcoming conference. Please seek out myself, other staff members and the VCIA board members and let us know how the event and the association can be more relevant to you as you grow within the industry. Many of you will attend with colleagues, but this is just a gentle hint to suggest that you step away from the people that you know and use the conference as your first and best opportunity to meet with and build relationships with others in the industry.
I look forward to meeting as many of you as possible at the conference, and to hearing your aspirations for your career!
A Director of Finance, Director of Membership, and Director of Education walk into a bar…jokes aside, Peggy Companion, Janice Valgoi, and Diane Leach have been central in building the high reputation and strong impact of VCIA. What drives them? A deep admiration for the good-natured people in the captive industry.
Along with industry-leading educational sessions and curated networking events, VCIA’s 37th Annual Conference is simply going to be blast. It will be a productive AND enjoyable time—guaranteed. That said, I have a couple of fun “branding” initiatives up my sleeve (after all, this will be my first conference as VCIA president, so I want to make it memorable!). Staff trivia will be one of them. Here’s our final staff spotlight, a tripleheader!, on the three smart and experienced women that are vital to VCIA’s success. Read up on all of our staff so you can get to now us a bit better before our big summer event. We’ll pose some staff questions at the conference and if you get them right you could win a nice little gift!
Director of Education Janice Valgoi
Since 2012, Janice Valgoi has brought many smiles to people in the captive industry. She takes great care in fostering relationships with people and companies, and works attentively in setting up sponsors for the annual conference while managing member needs throughout the year. Something you may not know about Janice, she used to be a serious synchronized swimmer, doing routines in the water and getting chewed up by Canadian geese. She loves dancing whether on land or sea!
Naturally her mind focuses on the conference this time of year, and when asked about what she’s excited about, she has a difficult time choosing. “To be honest I’m excited about everything! It’s very fulfilling to see everyone benefit from the conference. I think we give sponsors and exhibitors a really great value. There’s nothing better than bringing everyone together and that’s what the 2022 conference will be like. The VCIA staff has worked so hard to put it all together and make it a wonderful experience. It’s a very cool high to complete it!”
Director of Finance Peggy Companion
Four weeks into Peggy’s tenure at VCIA the office flooded. Her room was the only part of the floor that didn’t get damaged, and so she stayed in the building while everyone worked remotely. It was quite the initiation. She had just finished an accounting degree after juggling many jobs and working as a single mother. Before graduating, her teacher came to her and said, “I am going to change your life today.” He was neighbors with then VCIA president Molly Lambert and set up a meeting for Peggy with her. Peggy hasn’t looked back (minus the flood!) since.
Raised in Long Island, Peggy has lived in many places: Louisiana, Connecticut, Florida, the list goes on! Her work with VCIA comes back to the people she serves and connects with. “The staff, the industry, they are all lovely, supportive, intelligent people.” She sees this year’s Annual Conference as a great opportunity to witness the positive changes VCIA President Kevin Mead has begun making. “Kevin’s got smart plans and visions for the organization. I’m excited about the pathways he’s creating for VCIA.”
Peggy plays the piano and guitar and wants to brush up on her skills. She sails and golfs when she can, but there’s something else. “Peggy’s hidden talent is that she can be a professional singer. She has a wonderful sense of humor and sings a perfect show tune,” Diane revealed, to Peggy’s chagrin.
Director of Education and Programming Diane Leach
October 2022 marks 35 years of employment for Director of Education and Programming Diane Leach. She’s been with VCIA literally from the start. “I keep learning something new with VCIA and the captive industry. It’s what keeps me going, this constant evolution of knowledge.”
Diane puts her heart into designing the annual conference. Of course, this year has added significance because it’s the first time since 2019 that it will be back live and in person. She looks at the VCIA Conference as an enormous tool to solve challenges and brainstorm new ideas for the captive industry, and she finds a common theme that will be on display this August. “Change. Change of the guard with the DFR. Change of leadership with the VCIA. Change with hot topics and the incoming generation of captive professionals. This industry responds well to anticipating needs and providing answers to them, and that’s what the conference will be all about.”
If Diane’s not perfecting details for the conference, she’s seeking out a tranquil place on earth. Nature brings her peace, and practicing yoga has kept her more centered as a person. Her best thinking comes out on the trail, or on the mat. She contributes her well being to the support VCIA has provided. “I have always tried to take care of myself and VCIA has encouraged that for all staff.”
What’s most important to Diane? Being a mother. “My greatest joy is being the mother of my two daughters. I love the work-life balance VCIA provides. To have been a present parent means so much to me. VCIA has been so kind and generous to me and because of that I consider VCIA as my third child. And every year that child gets married again and I plan a large wedding to celebrate.”
Continuity. Experience. Expertise. 3 reasons (among many) for why Vermont is the Gold Standard for captive domicile decisions. The same 3 reasons describe Sandy Bigglestone, who this week was appointed as the new Deputy Commissioner of the Captive Insurance Division. Since the NBA Finals are underway, I’m inclined to say this is a slam dunk choice for everyone interested in captives in Vermont!
The Board, staff and members of the VCIA are delighted that Vermont Governor Phil Scott knew exactly where to turn to lead the division into a profitable future, and we join the entire industry, in Vermont and beyond, in congratulating Sandy. She is hardly a new face to the captive industry, and I hope that she will forgive me when I mention that she is 25 years into her career at the DFR. I said it once and I’ll say it again, Sandy will ensure stability, consistency, and quality that is the hallmark of regulation in Vermont, while also challenging staff and other stakeholders to develop and improve.
Many major captive players enthusiastically received the news of Sandy’s appointment. Here are some snippets.
Vermont Governor Phil Scott: “Sandy has decades of experience in licensing and regulating captives in Vermont, the top domicile in the country. It made sense to look within for the best person to lead the industry and the obvious choice was Sandy.
Sandy’s soon-to-be predecessor Dave Provost: “Sandy will carry on the mission of the captive division and be a thoughtful regulator. She has the experience and skills and new ideas to help guide the industry forward.”
Mary Ellen Moriarty, VP of Property & Casualty at EIIA. “Sandy is a polished professional, goes the extra mile when necessary, and wants to see us thrive. She is the perfect person to guide Vermont.”
“Sandy is a natural leader, and we are happy to have her stepping into this role,” said Interim DFR Commissioner Kevin Gaffney.
Upwards and onwards to the Sandy Bigglestone and the Vermont Captive Industry…see you all in August!
The State of Vermont’s Deputy Commissioner of the Captive Insurance Division is hanging up his gloves. Dave Provost leaves a permanent print on the robust infrastructure for domiciled captives in the Green Mountain State.
This week Vermont Captive Insurance set the captive world abuzz with a press release announcing Dave Provost’s retirement at the end of the summer. The Governor of Vermont Phil Scott could not sing Dave’s praise any higher by thanking him for “his immeasurable contribution to Vermonters and businesses around the world.” The Governor did pledge as well that Dave’s replacement would build on the “Gold Standard” for captives that Dave has helped create.
If you’ve been on the fence for registering for The VCIA Annual Conference August 8-11 in Burlington, Vermont, Dave’s news should get you over to attend. The conference will be a celebration of sorts for his career, and of course his insights during his “Hot Topics” on the last day of the conference is now simply a must see. Access Conference Registration here.
I’m only three months on the job as VCIA’s President, and so it makes sense that I should be at the end of the line when it comes to reflecting on Dave Provost’s remarkable captive career. Nevertheless, as short as our relationship has been, we do make for a quick repartee pairing; it was only this Wednesday, during VCIA’s Spring Mixer, that Dave Provost shared his retirement news to the crowd. He was also quick to point out that I’m hitting my 100th day soon and that means my honeymoon phase will come to a firm end. This is true: Dave always has a joke in pocket.
The moment I met Vermont’s chief captive regulator it was instantly clear that his insights, approachable nature, and dedication to improving the captive industry are held in highest esteem and are things he deeply cares about. Dave Provost’s captive knowledge and technical and managerial skillsets will be major loses to recover, but it’s his dry wit and deadpan personality that most of us will miss just as much, if not more.
Dave achieved a lifetime of captive accomplishments during his 30 years of experience in the industry. He leaves the captive sector in Vermont (and beyond) larger, stronger and more visible than when he started. The VCIA, and indeed the whole captive insurance industry will miss Dave’s shrewd perspective, his fairness and his desire for effective and speedy advice and decisions. But mostly, the whole sector will just miss Dave. VCIA is honored to have his presence in his official capacity as Vermont’s chief captive regulator once last time this August. Let us toast to Dave!
Meticulously planning, securing keynotes and hammering out the schedule, we’ve waited all year for this and now the “gates are opened” for our first in-person conference in three years. We can’t wait to gather with the captive industry’s best and brightest this August in Burlington.
We’re officially launched! Please visit our conference registration page to sign up for the biggest and strongest captive insurance event this summer on the global calendar. No matter your experience level, you will find so much in our conference that will develop you professionally and advance your career. We have a full slate of dynamic educational sessions, curated networking and benchmarking events, and an environment conducive for making business deals. Simply put, you are sure to add to you captive knowledge at the 2022 VCIA Conference, and more than that, it will be a triumphant celebration of the captive industry at large. Be sure to follow the #VCIA2022 hashtag on Twitter and LinkedIn.
I should mention (before I enlist you in another conference prize opportunity!) that I highly recommend booking your hotel and travel flight plans as soon as possible in order to avoid any complications. There are rooms still available at the VCIA group rate, but they are going fast, so head to our conference lodging page and be directed to local hotels who carry our group rate.
I’m a horse racing fan and I enjoy placing some modest bets down when I’m at the track. In that spirit, we are expecting a banner year, and as insurance professionals you are all concerned with risk and the odds that something might or might not occur. So, I introduce you to the VCIA version of ‘How Many Jelly Beans are in the Jar?’ I believe that our total attendance count will be 1,048. Are you taking that over or under? My guess includes exhibitors, staff and all classifications of attendees – i.e. anyone with a name badge! Let me know your number, and if I’m the closest, I will make a $50 personal donation to ICCIE (www.iccie.org), the captive insurance industry’s educational non-profit. If someone beats me, I will make a $100 donation in their name! We will, of course, also recognize the best prognosticator! Send your guesses to firstname.lastname@example.org