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Sessions Information

  • August 9, 2022
    10:00am - 12:00pm
    Session Type: Seminar
    Session Capacity: N/A

    Over the past couple of years, captive formations have substantially increased in Vermont and other domiciles. The long-term success for any captive program depends on the preliminary planning and careful execution of that plan. In this session, experienced captive owners, one representing a single parent captive, and the other a group program, along with an industry captive consultant and an actuary firm representative will share their experience with captive formations and the ongoing operation of their captives. The session moderator will pose questions to each of the three panelists which will focus on the lessons they have learned at the various stages of a captive life cycle. Panelists will describe how they chose to address certain situations and how this has led to best practices that they have incorporated into their business operations. Questions will address the different hurdles encountered by group formation versus single parent captives, including the captive’s ability to respond and assist during the pandemic. The panel will offer up some suggestions to the audience to help them achieve long-term success with their own captive programs focusing on what the risk managers have found helpful, and what they might do differently were they starting their program today.   

    Learning objectives: A panel of experts will answer several key questions about establishing and operating a captive. Upon completion, participants will:  
                                 - Gain a thorough understanding of benefits and considerations when forming captive  
                                    - Learn the many benefits a feasibility study will provide during the creation process  
                                 - Hear about the most popular type of captive structures and why one could be specifically beneficial for your captive  
                                   - Understand the importance of building your team of service providers  
                                 - Gain an understanding of the importance of governance and domiciliary oversight  

    Level: Basic

    Prerequisite: None
    Field of Study: Specialized Knowledge   

    Moderator & Coordinator: Aaron Hillebrandt, Pinnacle Actuarial Resources

    Content Advisor: Derick White, SRS

    1 CPE/CRE/VT CLE credit 



Session Speakers
Organization: Hylant Global Captive Solutions

With 15 years of experience working in the captive insurance industry, Josh brings his expertise to his role as account executive. Josh has experience in all aspects of captive insurance management, this includes captive formation, implementation, feasibility, management & supervision, compliance and reporting. He also has experience in many captive industries including but not limited to higher education, healthcare, insurance, manufacturing & distribution, banking and other P&C applications. Josh has managed captives in many domiciles for various captive types including risk retention groups, single parent captives and group captives.

Organization: Pinnacle Actuarial Resources, Inc.

Aaron Hillebrandt is a principal and consulting actuary with Pinnacle Actuarial Resources in the firm’s Bloomington, Illinois office. He holds a bachelor’s degree in mathematics from Illinois State University, where he has been a mathematics lecturer. He is an honorably discharged sergeant and combat veteran of the United States Marine Corps. He currently serves as a vice-chair on the Casualty Actuarial Society’s (CAS) Annual and Spring Meeting Planning Committee, a faculty member of the American Academy of Actuaries (AAA) Seminar on Effective P/C Loss Reserve Opinions, and a member of the VCIA conference task force.

Organization: Ophthalmic Mutual Insurance Company (a Risk Retention Group)

Tim Padovese is the President and CEO of Ophthalmic Mutual Insurance Company (OMIC) since 2002. OMIC is a risk retention group (RRG) insuring over 5,800 ophthalmologists nationwide which translates to a 60% market share. In addition to the responsibilities associated with the company’s operations and its success, Tim works with all ophthalmologists that are members of their sponsoring organization the American Academy of Ophthalmology (AAO). Tim holds a Bachelors degree in Economics from the University of Pittsburgh and a MBA from Golden Gate University in San Francisco. He lives in the San Francisco Bay Area and is married with two sons both in the insurance industry. Tim has over 40 years of insurance experience with the last nineteen at OMIC. Prior to joining OMIC, Tim spent 22 years with Fireman’s Fund Insurance Co. in key underwriting and marketing positions and at NORCAL Mutual as Vice President of Underwriting.

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