RIMS: remember it’s not a sprint, it’s a marathon…

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Just got back from the insurance marathon, better known as the RIMS conference.  This above is the advice Dan Towle, Director of Financial Services for the State of Vermont, gives all of us who attend and work at the Vermont both. Indeed he is correct – I needed to put my feet up for two days after!  And it can be dangerous: we had to dodge the opening night fireworks when a malfunction sent the projectiles into the audience!

Four days in San Diego doesn’t sound like a hardship, does it? And especially when you have so many great people working with you over the course of the event. Besides Dan, there were a number of folks from the Department of Financial Regulation, including Dave Provost, Sandy Bigglestone, Dan Petterson, Jonathan Spencer (what is that story about a rabbit attacking you again?) and Stacy Alden.  Some of our members staffing the cause were Steve Killoran from Maple Capital, Chris Turley from TD Bank, Bob Gagliardi from AIG Insurance Management Services, and Pete Kranz from Beecher Carlson. Include me, Janice Valgoi from VCIA and the intrepid Maddie Moninghoff from Skillet Design & Marketing and every angle was covered.

RIMS is fun, but also a great way to meet our members who attend and talk to the many folks who are considering a captive. Even though over 10,000 people attend RIMS, Vermont stands out as the place to go to cover captives. Great work everyone!

Thank you all very much, and I always look forward to hearing from you!

Rich Smith,
VCIA President

RIMS in NoLa

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I am heading to New Orleans this weekend for the RIMS annual conference where 10,000 risk industry professionals descend on a city and effectively take it over! Now, if you want to ever have the feeling of virtual insignificance, try attending RIMS as a captive insurance professional to get some perspective. Funny thing is, even with more than 90% of Fortune 1000 companies and more than half of all property and casualty premiums written through captives, it can be overwhelming to see a whole city, buses, buildings and lampposts festooned with the logos from the huge international insurers, brokers and reinsurers.

Walking through the exhibit hall, the Vermont booth is a small oasis of captive insurance surrounded by an ocean of insurance giants – and it’s at this oasis that the fellow risk professionals congregate to meet and talk about Vermont and the captive industry. Dave Provost and Dan Towle from the State of Vermont, along with a slew of other Vermonters stake out our space. And though we may be small, we are mighty.

So for those that will be at RIMS next week please come on by and hi!

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

Rich Smith
VCIA President