Come One, Come All!


The VCIA Annual Conference is NOT just for VCIA Members and the folks here in Vermont. Last year we had nearly 1100 people in attendance, from 42 states and 8 countries, including several captive regulatory teams (and captives) from many of our favorite competing domiciles.

Around 28% of our attendees were captive owners, a fact that makes VCIA very proud. So if you want to hear from and network with the very best and brightest experts in the industry including captive colleagues from all around the world, you should sign up today for VCIA 2016! This event can’t be missed.

Come get educated, network, and enjoy the Vermont summer on the shore of Lake Champlain. Come one, come all! August 9 – 11, 2016!

 Thank you very much, and I always enjoy hearing from you.

Rich Smith,
VCIA President

It’s Show Time… almost

Show time curtains

While many folks are taking it easy in the languor of summer, your stalwart VCIA staff and conference volunteers have been working hard to prepare for our gala event this year: VCIA’s 30th Annual Captive Insurance Conference starting August 11th in beautiful Burlington, Vermont! I hope we will see many of you here to take advantage of the great education, networking and just plain fun you will have.

Summer or no, the captive industry keeps on buzzing.  A.M. Best just released a Special Report, titled, “Group Captives Feeling the Squeeze, Single Parent Captives Winning the Race,”  that stated, despite a general increase in the level of loss and loss-adjustment expenses in 2014, U.S. captive insurers rated by A.M. Best continue to outperform the commercial sector in most key financial measures.  Captive underwriting expense ratio improved for the second consecutive year in 2014, surpassing the previous four years.   In addition, the five-year average combined ratio for the captive composite of 79.6% continues to compare extremely favorably with the commercial insurance composite’s average of 102.7%.  And captives’ surplus grew by $1.41 billion.

“Overall, A.M. Best believes that the values captives add in terms of their strategic, operational and financial benefits to their groups or parents remain solid and valid.”  I couldn’t have said it better myself!

I will be taking some time off after the conference, so don’t plan to get any blogs for a while (did I hear some cheering in the background?). Have a great rest of the summer and I look forward to seeing you in Burlington next week!

Rich Smith
VCIA President

How can I get you into this car…



You know that feeling when you sit in a new car: the new car smell, the shiny instrument panel, the chrome wheels. Well, that’s what I want you to think, sort of, as I hand you the keys to our conference coming up in just one month. That’s right, I am that pushy salesman, and I want you to all join us for a “drive” in Burlington, Vermont, next month.

This is the 30th year of the Vermont Captive Insurance Association’s annual meeting and international conference this August in Burlington.  Today the VCIA conference covers three full days and is the premier captive insurance gathering for education and networking for over 1000 attendees and 100 exhibitors.  This year, twenty one seminars will feature over seventy speakers providing attendees the opportunity to expand their knowledge of captives and connect with key players in the industry.  Topics have been selected with the guidance of our Captive Owner Advisors – topics that include everything from Employee Benefits, Healthcare, Tax Updates and Big Data to Managing International and Challenging Risks. A number of popular peer-to-peer forums will present captive owners the opportunity to share their experience and knowledge on a one-to-one basis.  Companies and organizations that are sharing their expertise range from Fortune 500 companies to small, nimble entrepreneurial enterprises, all of them leading the way into new areas of opportunity. Organizations like Global Rescue, which provides emergency services to travelers and business people overseas to iconic corporations such as Walgreens and Corning.

Captain Richard Phillips is the closing luncheon speaker, with his topic: “Steering Your Ship through Rough Waters: Lessons on Leadership”, and Hank Watkins of Lloyd’s North America will provide our industry keynote. And finally, what better place is there to be than August in Vermont by beautiful Lake Champlain, where attendees can ride in the VCIA Bike Tour (our scenic bike tour with a professional touring company), play in the VCIA Golf Tournament at the lovely Vermont National Country Club and join colleagues for a special 30th Anniversary reception at scenic Shelburne Farms.

So take us for a spin and make your plans to join us next month… I’ll throw in the floor mats at no extra charge! Thank you all very much, and I look forward to hearing from you soon.

Rich Smith
VCIA President

Opening Day!

VCIA golfers

Some of you might remember that we had a baseball theme for our Annual Conference last year, but May 1st is always like opening day here at VCIA central. The VCIA staff has been working furiously for weeks to get ready for our first day of registration, and the “first pitch” went out this morning. Our conference will take place in August from the 11th through the 13th in beautiful Burlington, Vermont.

30 years ago this August, VCIA held its 1st Annual Conference with a handful of attendees in a small meeting room in downtown Burlington. After a morning of meetings, it was off to the golf course and then a simple reception. Today, the VCIA conference covers three full days and is the premier captive insurance gathering for over 1100 attendees and 100 exhibitors.  Since September of last year, the conference task force and staff have been working hard to put together another terrific program for you.

Join us for “VCIA 2015: Expedition into Captive Learning” and learn from 60 expert panelists, many of whom are captive owners, as they share their stories and expertise. You’ll leave the conference with great information and great connections.  We are also excited to bring you Captain Richard Phillips as our closing luncheon speaker.  Captain Richard Phillips is the real life inspiration for the movie ‘Captain Phillips’, starring Tom Hanks.  Hank Watkins of Lloyd’s North America will provide our industry keynote. And, what better place is there to be than August in Vermont by Lake Champlain, where attendees can enjoy the VCIA Bike Tour (our scenic bike tour with professional touring company), a great VCIA Golf Tournament, and an evening reception at historic, breathtaking Shelburne Farms!

We look forward to seeing you in Vermont! Thank you all, and I look forward to hearing from you soon.

Richard Smith
VCIA President