The VCIA is not one to rest peacefully on its laurels. In addition to the fact that the Conference Task Force is already working on the 2023 VCIA Annual Conference, I also need to tell you about our future planning process. Just this week, staff went offsite to the Trapp Family Lodge in Stowe for our annual planning retreat. While we did not indulge in a Sound of Music karaoke session, we did have six hours of highly productive conversations concerning the future direction and initiatives for the VCIA.
We brainstormed big picture ideas as well as how to optimize our work systems. We discussed opportunities and how VCIA can better serve our members and the captive community as a whole. What else can we provide? What can we do different and new? What do our members want, and what do they want in the future? Overall, we identified key areas to explore, steps to take, and proposals to confer the Board on. A stroll in the misty mountains by the grazing cows was the perfect cap to the day.
Next up, in less than three weeks, is the fall meeting of the VCIA’s Board, where they will review staff input and also create a plan for member consultation as a part of a root and branch strategic direction consultation.
Then comes your part – member and stakeholder input in a variety of formats. I really hope that you make the choice to participate when asked. Your organization, the VCIA, can only grow and support you if we have clarity on your needs. Our goal will be to look at all ideas, from the incremental to the radical, through the lens of the question “will this build value?”
While our staff retreat generated strong themes and initiatives for the future of the VCIA, these need validation through our process, and I hope to hear from many of you as this process is rolled out. You can always contact me by phone or email. Until then, “my heart wants to sing every song it hears.”
A chill is in the air here in Vermont and autumn officially arrived yesterday. Time to get on boots and your long sleeve plaids! And after doing a deep dive on the results of our annual conference, we shift attention to Gotham – New York City – where Janice Valgoi and I host a cadre of experts who will answer your questions and point you in the right direction on how to properly form, manage, and serve a captive. Do you miss the buzz from our conference? Then catch it again in the Big Apple.
When: October 26th from 1-5:45pm.
Where: The beautiful EY US Headquarters. That’s 1 Manhattan West, 395 9th Ave, New York, NY 10001.
Why: An easy one: to see me. Or if you’re not keen on me regaling you about rugby or motorcycles, earn CPE/VT CLE credit, get your questions answered by the industry giants like Sandy Bigglestone, learn a step-by-step blueprint for captive success, and simply be in the room with high-powered captive players.
What: We break down the afternoon into three parts: 1) An overview of captives and their formations, and how to find a supportive domicile for your captive. Brittany Nevins and The State of Vermont will provide information in this respect. 2) Captive Success Stories. What makes a captive successful and how do you reach your captive goals? Dianne Salter, President of Mountain Laurel Risk Retention Group, will share specific facts and experiences that helped give shape to the high value of her captive. (There are many more erudite captive minds who will be speaking in Parts I and II. See below! 3) Networking Reception: Build relationships and find opportunities in the City That Never Sleeps. And be sure to find me and say hello!
Who: EY is generously providing the space and is a sponsor of the Roadshow, along with The State of Vermont, AM Best, and Marsh Captive Solutions. For the Roadshow speakers, VCIA, as always, presents a stellar lineup of seasoned professionals who have decades of experience to impart to you. I personally want to thank EY’s Mikhail Raybshteyn and Jim Bulkowski for working with us to put on this fruitful event.
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.
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 email@example.com
My first RIMS Conference is in the bag. What an impressive production the Risk Management Society had. Indeed it felt like “the center of the Risk Management universe” as they say. The experience has further fueled my desire to make VCIA’s August 8th-11th annual conference the best yet!
From a Vermont captive perspective, our trip to San Francisco was very successful. There was a steady stream of captive owners on day one with potential new captives and service providers visiting us. Our travel-sized maple syrup swag and the ice cream rolling in at 10:30 may lured in some hungry prospects, because surely nothing beats ice cream with maple syrup drizzled on top.
Even on the final day three the volume of traffic may have slowed, but the quality interactions continued. I still work as a captive student, absorbing as much information as I can about the industry and regulatory processes. I’ve also thoroughly enjoyed building out my professional network with so many interesting people. All in all Team Vermont held many solid and productive meetings which generated innovative ideas on how we can help captives thrive in the Green Mountain State.