Best in Show

Rich in OrlandoI just returned from the CICA conference in toasty Orlando.  As one of the prominent gatherings of captive insurance professionals, it’s a great opportunity to check in with folks and discuss issues facing captives, both bad and good.

Not surprisingly, the issues of the OECD Base Erosion and Profit Shifting Action Plan, 831(b)s, and the NAIC efforts regarding XXX/AXXX captives were front and center. But there were also great discussions around new opportunities for the industry such as medical stop-loss and employee benefits, using your captive to cover credit and political risk, and the growing interest to add cyber and reputational risk coverage. Tom Jones and Bruce Wright provided a very in-depth review of recent tax rulings that, for the most part, was fairly upbeat.  Much still in flux (as it always is)!

On a more humorous note, you can see by the picture that Dennis Harwick, President of CICA,  loaded up the ribbons on my conference badge (I think to try and slow me down). I was talking to Joel Chansky of Milliman, telling him I felt like Generalissimo Franco. He thought I looked more like Best in Show at the Westminster Dog Show! Definitely more accurate…

Thank you all very much, and I look forward to hearing from you soon.

~Rich

Association²

orlando

I am heading to Orlando this weekend (yeah!) to attend and participate in the CICA conference hosted by my friend, Dennis Harwick. Dennis does a super job at herding captive association leaders into a group that can debate and act on captive issues that face the industry as a whole—a group that we call the Captive Association Leadership Council, known as “CALC”.  CALC brings the clout of all of our associations to the next level and provides a solid footing for tackling some tough issues.

At the CICA conference, Dennis slots time for us to get together. This year some of the topics we will be discussing include reputational challenges facing the industry and pending regulatory and legislative issues. Examples include: the OECD Base Erosion and Profit Shifting Action Plan; the IRS “Dirty Dozen” Release/Draft Legislation amending 831(b) election; and the NAIC effort to amend its Preamble regarding XXX/AXXX captives.

I will be speaking to the general audience on a panel with Michael Shields of Kentucky and Gerry Yoshida of Hawaii, where we will share common regulatory and operational issues that impact the industry from our perspective. We will also be imploring the audience to become engaged in the discussion.  I hope you can join us if you are there!

Thank you all very much, and I look forward to hearing from you soon.

~Rich