Navigation Links
Vermont’s Captive Insurance Regulator Deemed “Most Influential”: Captive Review Magazine Publishes Annual List
Date:12/4/2013

Montpelier, VT (PRWEB) December 04, 2013

The November 2013 edition of Captive Review featured their ranking of the 50 “most influential people in the captive industry,” and according to those contributing to the international poll, once again Vermont has considerable influence.

Vermont’s chief regulator, David Provost, Deputy Commissioner of the Captive Insurance Division is number one in the overall world ranking up from third most influential in 2012.

“David leads a team of the best – and that makes him the best,” said Vermont Gov. Peter Shumlin. “We are not surprised at all that the industry knows what we already know in Vermont.”

Several captive insurance companies ranked on the list are domiciled in Vermont. Michael Bemi, President and CEO of the National Catholic Risk Retention Group, and Nicholas Parillo, VP Global Insurance at Royal Ahold, made the list. The Vermont Captive Insurance Association (VCIA) President Richard Smith was also on the list. The VCIA is the world’s largest trade association for captive insurance and holds an annual conference that attracts approximately 1,200 attendees.

The State of Vermont is not the only star in the poll results. A prestigious group of industry providers based out of the Green Mountain State including, Nancy Gray, Regional Managing Director at Aon Global; Julie Boucher, Managing Director of Marsh, Bob Gagliardi, Managing Director of AIG Insurance Services, Les Boughner, Executive VP at Willis; John Prescott, Partner of Johnson Lambert; and Bill Riley, Director of Paul Frank & Collins were recognized.

“We tout our industry infrastructure as the best in the world,” said Dan Towle, Director of Financial Services. “The combination of our regulatory staff’s expertise and the talented professionals recognized in this list is what makes Vermont the ‘Gold Standard’ of domiciles.”

The complete list of Captive Review’s “Most Influential” list can be found at http://www.captivereview.com.

Captive insurance is a regulated form of self-insurance created by companies or groups of companies as an alternative to traditional insurance and is designed to better manage their own risk. Captive insurance companies are typically used for corporate lines of insurance such as property, general liability, products liability, or professional liability. Growth sectors of the captive insurance industry include professional medical malpractice coverage for doctors and hospitals and the continued trend of small- and mid-sized companies forming captive insurance companies.

Vermont has 1,000 licensed captives, making it the largest captive insurance domicile in the U.S. and the third largest in the world in terms of sheer numbers. Vermont’s captive insurance companies wrote more than $26 billion in gross written premium in 2012, the most of any domicile in the world. Vermont is also home to 42 of the companies that make up the Fortune 100 and 18 of the companies that make up the Dow 30. Vermont has approximately 100 hospital and doctors’ groups that have formed captives for professional medical liability.

Captive insurance has existed since the 1960s and has been a part of the Vermont insurance industry since 1981, when Vermont passed the Special Insurer Act. Captive insurance companies are formed by companies or groups of companies as a form of alternative insurance to better manage their own risk. Captive insurance companies are licensed in a state or country and are regulated by that jurisdiction.

For more information on Vermont’s captive industry, visit http://www.vermontcaptive.com, call 802-828-5232 or email towle(at)state(dot)vt.us.

Read the full story at http://www.prweb.com/releases/VTCaptive/Power50/prweb11391989.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. MyTownInsurance.com Reveals How Project CAP and Insurance Agoragate will Take Away Market Share from the Captive Insurance Carriers and give it back to the Independents
2. Leading National Law Firm Anderson Kill & Olick Concludes NRRA Not Intended to Apply to Captive Insurance Companies
3. Power Grid System Market (Captive Generation, Wind Power) in Subsea Worth $2,365.1 Million by 2018 - New Report by MarketsandMarkets
4. Captive breeding for thousands of years has impaired olfactory functions in silkmoths
5. Disparities in treatment of children in the emergency department based on their insurance status
6. InsuranceCalculator.net Now Provides Competitive Car Insurance Quotes To Missouri Drivers
7. InsuranceCalculator.net Now Provides Competitive Car Insurance Quotes To Maryland Drivers
8. How MyTownInsurance.com Helps Insurance Carriers Manage their Loss Exposure through On-Line Marketing
9. InsuranceCalculator.net Now Provides Competitive Car Insurance Quotes To South Carolina Drivers
10. InsuranceCalculator.net Now Provides Competitive Car Insurance Quotes To Louisiana Drivers
11. InsuranceCalculator.net Now Provides Competitive Car Insurance Quotes To Kentucky Drivers
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... ... ... On Friday, June 10, Van Mitchell, Secretary of the Maryland Department of Health ... of their exemplary accomplishments in worksite health promotion. , The Wellness at Work Awards ... at the BWI Marriott in Linthicum Heights. iHire was one of 42 businesses to ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic ... many turn to unhealthy avenues, such as drug or alcohol abuse, as a coping ... released tools for healthy coping following a traumatic event. , Trauma sufferers tend to ...
(Date:6/24/2016)... Dallas, Texas (PRWEB) , ... June 24, 2016 ... ... 12th International Conference and Scientific Sessions in Dallas that it will receive two ... Announcement of the grants came as PHA marked its 25th anniversary by recognizing ...
(Date:6/24/2016)... CA (PRWEB) , ... June 24, 2016 , ... Comfort ... the American Cancer Society and the Road To Recovery® program to drive cancer patients ... seniors and other adults to ensure the highest quality of life and ongoing independence. ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... the Clinical Decision Making in Emergency Medicine conference in Ponte Vedra Beach, FL. ... articles published in Emergency Medicine Practice and Pediatric Emergency Medicine Practice. ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)...   Pulmatrix, Inc ., (NASDAQ: PULM ... announced today that it was added to the Russell ... comprehensive set of U.S. and global equity indexes on ... milestone for Pulmatrix," said Chief Executive Officer Robert ... progress in developing drugs for crucial unmet medical needs, ...
(Date:6/23/2016)... Research and Markets has announced the ... to 2022" report to their offering. ... patients with kidney failure, it replaces the function of kidneys ... blood and thus the treatment helps to keep the patient ... Increasing number of ESRD patients & substantial ...
(Date:6/23/2016)... 23, 2016 Roche (SIX: RO, ROG; OTCQX: ... its Elecsys BRAHMS PCT (procalcitonin) assay as a dedicated ... shock. With this clearance, Roche is the first IVD ... solution for sepsis risk assessment and management. ... and PCT levels in blood can aid clinicians in ...
Breaking Medicine Technology: