Welcome Conference Summer Interns!

Posted on June 2, 2023 by vciablog

VCIA is lucky to have not just one conference summer intern this year, but two! We, like the rest of the industry, are putting in a big effort to find and engage the next generation of captive talent. That’s where our interns come in. One grew up in Vermont and decided to move to the Midwest for college (go Hawkeyes!); the other grew up in the Bluegrass State and fell in love with Vermont and the University of Vermont. These 2 are contributing in a major way to make your experience and the #VCIA2023 conference a success. Please meet VCIA Interns John O’Rourke and Marguerite Jouet!

John and Marguerite have been preparing the conference app for you!

University of Iowa Class of 2024 with a major in finance, John comes to VCIA as our technology intern. He is ready to troubleshoot any technology issues if needed, and he plays a big role in updating our conference app for attendees to use. On a sidenote, the app is humming along and should be ready for your use in mid July, so you can start networking with other attendees before the conference!

Last year John visited London and took a course on international finance. There, he toured the impressive offices of Lloyd’s of London, and when he learned about an opening at VCIA, he connected the dots to just how big the captive industry is in his home state. “It’s incredible,” John said, “discovering this global power of insurance right at my doorstep. I’m so excited to give it my all to make the conference a great experience for everyone.”

Marguerite joins VCIA as our event management intern and she works closely with VCIA’s Director of Education Diane Leach in perfecting the details of the conference. She studies marketing and data analytics with a concentration in global business at UVM, and last semester she went to the Universitat Pompeu Fabra in Barcelona for an amazing study abroad experience.

Marguerite has already been a valuable staff member to VCIA as she’s done outreach to the Burlington Business Bureau and contacted city restaurants to provide information about our conference, demonstrating the great opportunity coming for them! Another sidenote: you will find some restaurants will have flyer with our logo on their window – please support these eateries! This was a great idea hatched by Marguerite. Says Marguerite, “It’s been wonderfully eye-opening to witness how a conference is created from scratch and all the planning that goes into it for a successful event. I’m so happy to be a part of it and can’t wait to see it all come to fruition in August!”

Whether emailing them or meeting them at #VCIA2023, please give John and Marguerite a warm welcome! And remember, book your lodging and register for the conference today!

Spring Member Mixer Recap and a BIG Thank you to Outgoing Board Members

Posted on May 26, 2023 by vciablog

Wednesday of this week featured an outstanding series of VCIA events in a blustery and damp Burlington. It brought together the many-faceted folks who play different roles in the Vermont captive industry and illustrated that indeed, we’re better when we’re together. We started with a VCIA Board meeting and then had the Vermont Captive Team available to give an update and take questions from our members. From then on it was time to relax with a spring cocktail and enjoy the camaraderie that comes with being a VCIA Member.

The outstanding VCIA Board met in the morning for the regular spring meeting. In addition to their usual Board business of reviewing reports and plans there was also a preliminary strategic planning exercise to help guide the process that we will undertake going forwards. To take a page out of VCIA Board Chair Tracy Hassett’s book, we were definitely aiming for the big blue sky in our strategic planning exercises. This is just the beginning and I look forward to providing more SP updates as we officially get underway at the start of 2024.

In addition there were also two open access sessions – firstly for members to question the Board about their meeting and the direction of the VCIA. Then, the DFR’s Leadership team took the stage for a Q & A about the health of the industry and Vermont as a domicile, the changes to Vermont captive legislation and the actions of entities such as the IRS and the NAIC. Despite the depth of the subject matter, the usually approachability and cooperative nature of the DFR team was very much in evidence. Check out the video below to hear about the positive direction the Vermont Captive team heads in.

Sandy Bigglestone explains how the Vermont Captive team will sustain its Gold Standard

Then it was on to the most important business of the day – the Spring Mixer! Being indoors as a result of the aforementioned blustery and damp weather did not detract from the conversations among over 60 professionals – some of which were not Vermont-based. A huge thanks to all that made the journey (long or short) for your support of the VCIA and our activities.

**VCIA staff Joce Lamb and Ella Stevens registering members for the mixer**

**M&T Bank/Wilmington Trust’s Ian Davis and Aon’s Nancy Gray**

**Primmer’s Jesse Crary, Paul Frank + Collins’ Ben Gould, and VCIA President Kevin Mead**

A BIG Thank You to 3 Outgoing VCIA Board Members

Poignantly, the Board and staff also said farewell to three outstanding Board members and long-term friends of the VCIA. The Board recognized the insight, diligence and camaraderie that Stephanie Mapes, Dennis Silvia and Anne Marie Towle have provided to the VCIA and the broader captive industry.

President of Paul Frank + Collins Stephanie Mapes is not only stepping down from the VCIA Board, but she’s also retiring! She’s been a true pillar in the legal sector of the captive industry and was an integral part to VCIA’s legislative intelligence and operations. She brought us a great attention to detail, hard hitting questions, and a knack for finding solutions. On top of it all, Stephanie truly spearheaded our efforts to have a distinguished Strategic Planning process with the SOAR approach. VCIA is grateful how you are leaving us and extra appreciative for your strategic planning expertise and input.

Davies Captive Management expert Dennis Silvia brought a panoramic view of how VCIA fits and stands out in the captive landscape. His insights to the VCIA Conference Task Force and played a big role in why our conference educational offerings are top notch. He was committed to the nth degree – even phoning in from Hawaii in the early morning hours to make a Board meeting! Thank you Dennis for bringing perceptive suggestions – and actions to how VCIA functions and excels.

Last but not least, Hylant’s Anne Marie Towle. Hearing from her fellow Board members as well as staff, one attribute rises to the top – Anne Marie’s energy. She gave so much to VCIA as a Board member, thanks to her robust captive professional network and her own nonstop professional education. Whether it was bringing sponsors in to the conference, or building attendance for a roadshow in Indianapolis, Anne Marie really “connected the dots” as a VCIA Board member and expanded our reach and impact. Thank you, Anne Marie!

Happy Memorial Day Weekend to you all out there. Enjoy the long rest, and then let’s get back as our conference planning revs on for #VCIA2023!

#VCIA2023 Conference Preview III: Registration Strong Out of the Gate

Posted on May 19, 2023 by vciablog

We are launched! On Monday of this week registration opened for the 2023 VCIA Conference, and already over 160 attendees have registered to attend. On the outside, it looked like we just ‘flipped the switch,’ but in all honesty that could not be further from the truth! The lead up to the launch of registration has been a meticulous process, one that involved a significant amount of time on the backend to ensure that the registration procedure can run properly for everyone.

Over 160 attendees have already registered to attend and we can’t wait for you to join us! Register here: https://tinyurl.com/vciaaugust7-10
#VCIA2023: Where the captive world Comes to Meet

Many logistics go into managing the conference experience as well. It’s a big mark of logistical success when attendees don’t even notice because everything is running so smoothly, and that is our goal! A look behind the scenes shows that the VCIA staff have been working on the details that make the conference rev – from hotel contract to our great conference logo – reflecting the summer colors of Vermont. From transportation to sampling the food offerings at the hotel (Somehow, I missed out on that job!)

Equally important to logistics, is the actual conference schedule that has been materializing for months. Since September of 2022 (Yes, less than a month after the end of the 2022 conference!), a dedicated group of captive professionals have been working as the VCIA’s Conference Task Force to solicit, evaluate, hone and finalize a broad range of continuing professional education. Working closely with staff, they have also addressed issues such as safety and security, and the integration of stellar social and networking events into the program.

Staff and the Conference Task Force have also work hard on securing the keynote speakers who will bring something different and relevant to the attendees. This year we are delighted to have retained the services of Juliette Kayyem & Jeff Kreisler. Juliette is a CNN National Security Analyst, a Pulitzer Prize Finalist, and a former Assistant Secretary of Homeland Security. Jeff is the head of Behavioral Science at JP Morgan as well as being a former stand-up comedian! That’s a combination I can’t wait to experience.

Get a preview of what Jeff Kreisler will bring as the keynote to the #VCIA2023 Conference!

So, come join us and about 1,000 of your peers as we explore new challenges and innovations. Build effective and useful contacts across the formal and informal events, and have an outstanding time in beautiful Burlington, Vermont!

P.S. If you haven’t yet, check out our conference video!

Recapping RIMS 2023: VT’s International Connections

Posted on May 5, 2023 by vciablog

My second RIMS Conference is complete, and I was fortunate to meet a considerable number of you there. The conference energy at RIMS is strong and it reminds me of the buzz you will find at the VCIA Conference in Burlington this August!

At RIMS, the Vermont display (you really can’t call it a ‘booth’) was a hub of activity, and not just because of the ever-popular maple syrup. Throughout the two and a half days, there was a steady stream of current captive owners swinging by to meet with regulators and VCIA staff. We discussed their captives and plans for the future and showcased how VCIA and Vermont could help them meet their goals. A number of both formal and informal meetings with potential new captives took place during our stay in Atlanta.

Person-to-person engagements are important to VCIA, and I am pleased to tell you that one of these meetings at RIMS was a direct result of our recent trade mission to Mexico. I am confident our Mexico relations are just the beginning of a flourishing partnership to come. We also entertained visitors from Germany, Japan and the UK. I continue to be amazed by the brand recognition that our ‘Brave Little State’ gets globally in this field, and I suspect you will find an international presence at the #VCIA2023 Conference.

Additional news: I am happy to report that the 2023 Captive Bill has passed through the Vermont legislature and now sits with the Governor awaiting his signature. This effectiveness again speaks volumes to the great work that volunteers put on both inside the VCIA’s Legislative Committee and beyond that the ensure that your voice is heard in the halls of power. VCIA will of course stay on top of this and alert members and stakeholders when the Governor signs the bill into the law.

Happy May! That means VCIA is primed and ready for our #VCIA2023 registration kick off, and we look forward to “opening our gates” soon!

#VCIA2023 Conference Preview I: Where the Captive World Comes to Meet

Posted on April 28, 2023 by vciablog

Suddenly, the month of May begins on Monday! That means we are just two weeks out from when VCIA’s 38th Annual Conference registration opens. Let me be of service and provide you with this calendar reminder link so that you can go ahead and register for #VCIA2023 right away on Monday May 15th. All you need to do that Monday the 15th is go to www.vcia.com to register! We anticipate a larger gathering, a more robust schedule of events and topics, and overall a conference experience that will meet and surpass VCIA’s 2022 Conference. And you are an important part of that!

95% of surveyed attendees said the VCIA Conference coordination and management was well done and exceptional

96% of surveyed attendees said VCIA Conference networking opportunities were well done and exceptional
We plan to outdo our 2022 Sucess with your help!

In the coming months, I intend to highlight a number of facets to demonstrate how The VCIA Conference stands out in the captive conference circuit. We will detail our special events, our keynote speakers (Shh! waiting to reveal them during registration week), the wide variety of services offered in our comprehensive exhibit hall, thanks to our exhibitors.

I will also go in depth on our educational topics – a source of deep pride for VCIA. Above all, our conference is about the people, about you! It starts with the people behind the scenes – the VCIA Conference Task Force, the topic coordinator and speakers, the VCIA Board and Staff, the #VCIA2023 Sponsors – then includes the variety of captive professionals from all walks of life and corners of the world who make our event so special. I don’t want to give it away, but let me just hint that we have a special video dropping during registration week which will illustrate how VCIA is truly the place where the captive world comes to meet.

So, just as a primer, let me provide the basics:

#VCIA2023 is four jam packed days of captive education, networking and business opportunities, in lovely Burlington, Vermont starting Monday August 7th with Captive Immersion, as the full conference slate picks up Tuesday August 8th and goes through Thursday August 10th.
#VCIA2023 is for everyone, not just service providers and captives domiciled in Vermont! In fact, we have a number of other domiciles who will be exhibiting in the exhibit hall, and many regulators and government officials from other states and countries attend. VCIA is very happy about this and it goes to my ethos of building out “a bigger pie” which everyone can eat from.
On top of that #VCIA2023 is productive for those who have been in the captive industry for more than 30 years, and those who maybe have been in the captive industry for just 3 days! We have advanced topics as well as Captive Immersion and Captive101. Plus, the VCIEL will be playing a major role at the conference in engaging rising professionals and students.
The VCIA Annual Conference is changing golf courses this year! We are headed to beautiful Stowe, Vermont! Find details on our golf page here.
This is just the tip of the iceberg! Keep up with VCIA LinkedIn activity to learn more, and I look forward to seeing you as one of the registered #VCIA2023 attendees starting Monday May 15th!

This is the premier US captive conference to attend to be at the forefront of the industry. It is the place to learn about the hottest topics trending in the industry and to network with your peers. The VCIA shows their level of care and passion through their staff’s efforts resulting in a very welcoming captive conference experience. Be sure to mark this annual event on your calendar to be best armed to utilize your captive program or to learn how to break in to the industry.
Praise for the VCIA Conference Experience

A Brief Note on the Value of VCIA Board Members

Posted on April 7, 2023 by vciablog

The Board of the VCIA has some parameters set by the bylaws of the association. One of these is that the Board must always have members who are captive insurance company owners. This ensures that the Board has a direct understanding of what many VCIA member captive owners are going through.

Congratulations to 3 of our Board Members for being a Top 20 Captive Owner by Captive Review!

On that note, I am very pleased to report that in the new Top 20 captive owners list from Captive Review – https://captivereview.com/features/top-20-captive-owners-2023/ – 3 VCIA Board members appear! It’s not lost on me that these 3 fantastic individuals are not only very active in the captive community, but also help out and volunteer their time and knowledge with many VCIA initiatives.

Firstly, our immediate past Chair, Andrew Baillie of the AES Corporation. Andrew’s appearance at the VCIA roadshow in New York in the fall of 2022 showcased one of the many reasons that he was on this list. From the Captive Review article: “Baillie has developed a number of innovative captive solutions, particularly in the fields of cyber and terrorism coverage, and earned himself a reputation as a leader in the captive space among his peers.”

Secondly, Gail Newman of Bright Horizons, who brings the insurance challenges of a global childcare provider to VCIA Board deliberations. Gail brings so much fresh insight to the Board and VCIA and utilizes her many areas of expertise.

Last, but by no means least, current Board Chair Tracy Hassett of edHEALTH, who testified in front of the Vermont House and Senate committees in January of 2023, and made a powerful impact on the legislators present.

The VCIA relies on Board members, committee members and many other volunteers to develop our programs and initiatives, and it is great when the broader industry recognizes the influence, commitment and excellence of these folks alongside us!

On the Captive Industry Conference Circuit

Posted on March 17, 2023 by vciablog

It is good to once again be able to report on the solid state of the industry. There were two recent strong data points provided at both the World Captive Forum and at the CICA 2023 International Conference: Accelerating Captive Innovation.

First of all, the numbers. Both conferences had strong attendance, both up from 2022 levels, together with a full exhibit hall. Then secondly the content. As in 2022, almost all presenters were upbeat about their own captive, or, in the case of service providers, their pipeline of new and expanding clients. And then lastly, the “chatter.” A standard opening question of mine is, “how’s business” and this was almost invariably met with a plaintive request for more resources in terms of staff, because there is so much business to take on.

**We Can’t Wait For You to Join us Again for #VCIA2023 Registration Opens May 15th!**

So how does this inform the VCIA as we develop our services to members? Some of the hotels for our own conference in August of this year are already approaching capacity, and this is before we even open registration in May! So, we are working with our partners in the Burlington lodging industry to secure additional rooms and even additional hotels to meet the expected high demand in a small marketplace. Then, addressing some of the workforce issues that I’ve heard, we are about to announce some strong new initiatives that will hopefully pay dividends in expanding the available workforce for the captive industry, especially in Vermont.

Lastly, it only remains for me to recognize March 17^th, Lá Fhéile Pádraig sona daoibh, go athas sé lúcháir orainn go léir!

P.S. Spring is just 3 days away!

Previewing VCIA’s Historic Trade Mission to Mexico Happening Next Week

Posted on February 24, 2023 by vciablog

With a sixteen-inch storm due at my Vermont house, this seemed like a good time to escape to 80+ degrees in Mexico City! Aside from the weather, the real reason is the VCIA’s curation of and participation in the first ever trade mission from the Vermont captive sector to Latin America; in particular, our southern neighbor Mexico, the second largest Latin American economy and one with robust industrial and manufacturing sectors. Our goal is simple: to establish lasting relationships between Mexican companies and the Vermont captive community.

My colleague, Janice Valgoi, has spent many hours moving this from a standard VCIA roadshow into a fully-fledged multi-day event that will include meetings with industry and financial sector leadership groups as we present the case for captive insurance in general and Vermont as a domicile specifically. My hope is that I will be able to provide real-time updates via my LinkedIn Page, and if we gather enough material, to produce a Special Mexico Trade Mission Report to VCIA Members, just like we did with Legislative Day.

Three years in the making (thanks COVID), these plans were revitalized as travel restrictions were lifted. We are now all delighted to be working on developing this market – one that Vermont already has exposure in – and building a global brand for our Brave Little State. Joining myself and Janice on this trip are Brittany Nevins from the VT Department of Economic Development (DED), and the Department of Financial Regulation (DFR)’s captive team of Sandy Bigglestone, Christine Brown and Jim DeVoe-Talluto. You can find the State’s informative press release about our trade mission here. In addition, Susan Murray of the US Commercial Service, and Tim Tierney, the DED’s Director of Business Recruitment and International Trade, have been a great help, and will also be joining us in Mexico City.

For our March 1^st educational session, the Vermont contingent will be joined on stage by captive owners and managers from Mexico, as we all demonstrate how coverage and pricing challenges can be addressed through captives. We have an extraordinary talented lineup that will offer diverse perspectives on the innovative uses of captives for corporations. As I’m still a captive student, I will be sure to bring my paper and pencil!

Everyone has been so patient with this project, which was planned long before my arrival – and especially tolerant have been our sponsors, AIG & Marsh, as well as the State of Vermont, all who have graciously allowed us to rely on their support despite the delay. My sincere thanks goes out to our sponsors and everyone that has made this landmark trip for our association possible – especially you, Janice Valgoi! I look forward to sharing more once I’m on the ground in “The City of Palaces.”

VCIA Staff at Full Force and Ready to Serve!

Posted on February 17, 2023 by vciablog

This week the VCIA Staff met for a daylong meeting at one of our favorite places: Trapp Family Lodge in Stowe, Vermont. And it was a special occasion, as we met for the first time with our two superlative new hires, Ella Stevens, Bookkeeper/Administrator, and Jocelyn Lamb, Accounting Manager. We were placed in the Strauss Meeting Room, and an obligatory recording of The Blue Danube was played!

Since VCIA went fully remote at the end of 2022, we’ve made sure to plan in-person staff gatherings at least once a month in order to build staff chemistry and develop those intangibles that are crucial for a close-knit small staff. This February meeting was all about gearing up for our busy season, when conference registration comes onto the horizon. 87 days until you can register for #VCIA2023, and 171 until the first day of the conference!

Time and time again I’m reminded why our staff is an invaluable asset serving members, stakeholders, and the entire captive industry. Whether it’s the deep institutional knowledge harnessed by our triumvirate Diane Leach, Peggy Companion, and Janice Valgoi, or the ingenuity and creative thinking that our younger staff employ, our staff is versatile and leaves no stone unturned in how we help members and optimize our services.

No other captive domicile or captive association can claim such a robust and effective staff force meeting the needs of its members and expanding its reach. It’s why VCIA is ready to hit full stride as we hit spring (just 31 days!) and gear up for conference preparation and promotion. As always, we’re available to listen to your needs and and provide you the best member experience!

VCIA and Vermont Captives Have Many Reasons to Be Cheerful!

Posted on February 10, 2023 by vciablog

Last week I spoke about the generalized optimism present at the World Captive Forum from the domiciles that were both presenting and exhibiting. For this week, I am going to expand on why the Green Mountain state has ‘Reasons to be Cheerful.’

Firstly, the numbers. Another top 10 year in 2022 for Vermont with 41 new captive formations and a current total of 639 licenses. Additionally, the state hosts 59 sponsored cells with an individual count of over 500. Of which over 40 were new this year. Vermont’s Governor Phil Scott said of the achievement: “Vermont has so much to offer, and the captive insurance industry remains a point of pride in our state.” It is also worth pointing out the range of activities that Vermont-based captives support: Healthcare, construction and real estate all featuring heavily. And Vermont stretches its wings a little too, with new captives being formed by entities based in Canada, Mexico, and Austria.

Secondly, stability. While there has certainly been a ‘changing of the guard’ the knowledge and strength within the DFR remains unparalleled. Be sure to watch out for details of our March webinar when some of the new leaders with the DFR (who, bluntly, are not that new at all!) will be sharing answers to the questions you need answered.

Thirdly, the VCIA. We are expanding and planning for the future – a future where we play an expanded role to match the growth that we are seeing in Vermont and beyond, and the increased demand around the industry for the quality education, networking and information unavailable elsewhere.

So, in fact, there are many reasons to be cheerful about the state of the captive industry and especially the state of the industry in Vermont. By my count it’s up to ‘Reasons to be Cheerful – Part 3.’ Added bonus points for anyone that can tell me the name of the under-appreciated band that produced a song with that title in 1979! Check it out below, and always feel free to reach out to me.

Captivated

The Vermont Captive Insurance Association Blog

Tag Archives: captive insurance