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:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... Apple ... care services, staged a mock evacuation of the facility as part of a disaster ... Fire Department, Echo Hose EMS and Shelton City Emergency Manager, as well as the ...
(Date:10/13/2017)... , ... October 13, 2017 , ... Global Healthcare Management’s ... Alexandria Park in Milford, NJ. This free event, sponsored by Global Healthcare Management’s ... The fun run is geared towards children of all ages; it is a ...
(Date:10/13/2017)... ... October 13, 2017 , ... “The Journey: From the ... danger possible to save lost souls in the Philippines. “The Journey: From the Mountains ... a dedicated teacher of the Bible. She has taught all ages and currently teaches ...
(Date:10/12/2017)... ... October 12, 2017 , ... Planet Fitness, one of the largest and ... plans to open a flagship location in Covington, LA at 401 N. U.S. Highway ... store next to Office Depot in the Holiday Square shopping center. Its location allows ...
(Date:10/12/2017)... ... 2017 , ... Asante, a nationally recognized health system in ... existing home health joint venture through an agreement, effective October 1, 2017, to ... home health company with Asante, delivering clinically integrated care, for the past eight ...
Breaking Medicine News(10 mins):
(Date:10/10/2017)... -- NDS received FDA 510(k) clearance in May 2017 for its highly ... designed for endoscopy environments. An innovative secondary monitor solution, ZeroWire ... support the improvement of patient outcomes, procedural efficiency, and the lowering ... ... ...
(Date:10/4/2017)... 4, 2017  South Korean-based healthcare product Development Company ... "cprCUBE" on Kickstarter. The device will educate the user ... with better efficiency compared to the dated and pricey ... on efficacy of the compression for a more informed ... goal to raise $5,000. ...
(Date:10/2/2017)... 2017  Eli Lilly and Company (NYSE: ... third quarter of 2017 on Tuesday, October 24, 2017. ... day with the investment community and media to further ... call will begin at 9 a.m. Eastern time. Investors, ... webcast of the conference call through a link that ...
Breaking Medicine Technology: