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Sessions Information
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August 9, 2023
10:00 am - 11:00 am
Session Type: Session
Session Capacity: N/A
As an organization grows and evolves, its risks often evolve as well. In addition, with the hardening insurance market, organizations are facing significant increases in cost or a lack of available coverage for certain risks. In this session, a panel consisting of two captive owners and their captive manager will discuss how some organizations are leveraging the prior success of their captive to address some of these issues. This could include utilizing surplus to lower premiums, increasing the amount of risk retained in the captive, or employing the captive to finance risks that were not included in the captive's original business plan. The panelists will discuss the process for expanding the captive's business plan to accommodate the new risks, why the captive was ultimately chosen to insure the risks, as well as any hurdles encountered during the process.
Learning objectives – Upon completion, participants will be able to: • Recognize various ways that an existing captive program can be leveraged to assist the parent organization • Develop a process to periodically evaluate potential risks to be insured by the captive • Implement business plan changes for a captive
Level: Intermediate
Prerequisites: A basic understanding of captive insurance and working knowledge of insurance principles.
Field of Study: Specialized Knowledge
1 CPE/CRE/VT CLE credit ICCIE Credit
Coordinator: Samantha Poulin, Milliman, Inc.
Moderator & Content Advisor: Mike Meehan, Milliman ...
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Session Speakers
Organization: Power Consultants Insurance Company
Jill is Sr. Vice President and General Counsel of Sargent & Lundy, an engineering firm that designs power plants and power distribution systems domestically and internationally. She works with company executives and management on a wide array of legal issues including procuring insurance, managing professional liability and construction litigation, and reporting insurance claims. In addition to earning her Juris Doctorate from Mitchell Hamline College of Law in 2003, she has a B.S. in Civil Engineering from the University of Minnesota (1997) and an MBA from the University of Notre Dame (2009).
Organization: Milliman, Inc.
Mike is a Principal with Milliman, Inc., and has over 25 years of experience working with captive insurance companies and other alternative risk financing programs. Mike is an active participant in the captive industry and is a frequent speaker and author on captives and alternative risk financing. Mike is an active member on numerous captive domicile association committees, is a board member of the NCCIA, and is also a former board member and treasurer of the VCIA. Mike is also a recipient of VCIA’s Captive Crusader Award and its Industry Service Award. Mike has been named to Captive Review’s Power 50 annually since 2016.
Organization: University of Vermont Health Network
As Senior Vice President and General Counsel of the UVM Health Network, Eric serves as a member of the Network’s senior leadership team while overseeing the Network’s legal, compliance, privacy and risk management functions. Eric joined the Network in May 2017 as Deputy General Counsel and Senior Advisor and began his current role in October 2018. Prior to joining the UVM Health Network, Eric served as President Barack Obama’s United States Attorney for Vermont and as a private practice lawyer representing health care providers. He holds a J.D. degree from Yale Law School.
Organization: Strategic Risk Solutions Vermont Ltd.
Patrick is responsible for Strategic Risk Solutions' United States captive management activities. In this role he oversees the operations of the SRS offices in Arizona, Hawaii, North Carolina, South Carolina, Tennessee, Texas, Vermont and Washington D.C. In addition, Patrick provides assistance to the SRS consulting group with captive implementation and feasibility projects. Patrick has over 20 years of experience in management, insurance accounting, and consulting services for single parent firms, risk retention groups, and publicly held admitted insurance carriers.
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