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Sessions Information
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August 9, 2022
1:30pm - 2:30pm
Session Type: Session
Session Capacity: N/A
Third-party
risk or “unrelated” business is a way that a captive can support the core
business of its parent, a source of top line revenue and profits, and a means
of stabilizing the captive’s risk portfolio. But it can also be a “third rail”
strategy that leads to underwriting losses and financial ruin. How can the
captive owner discern one from the other, and how can one take steps to ensure
that their captive’s third-party risk programs yield waves of benefits, rather
than a tsunami of red ink? Panelists will discuss their thought process
in putting together successful programs, from the standpoint of the parent’s
business objectives, profitability, taxation, and customer satisfaction
regarding lessons learned and cautionary tales. Attendees will come away with a
deeper understanding of the triumphs and pitfalls of “getting into the
insurance business.”
Level: Advanced
Prerequisite: Foundational
knowledge of captives and traditional coverages.
Field
of Study: Specialized
Knowledge
Moderator: Jason
Palmer, Willis Towers Watson
Coordinator: Ed
Koral, Willis Towers Watson Content Advisor: Anne
Marie Towle, Hylant
1
CPE/CRE/VT CLE credit
ICCIE CREDIT
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Session Speakers
Organization: Deloitte Tax LLP
I am a Managing Director in the Washington National Tax office of Deloitte Tax LLP. I have been practicing for over 20 years; I serve clients with respect to all aspects of captive tax matters. I am a tax attorney (JD, LLM) and I also serve commercial nonlife, health, and life insurance companies.
Organization: Fiat Lux Risk and Insurance Company
Karen is the Program Manager of Captive Insurance Programs for the University of California, Office of the President. As program manager, she helps to develop, implement, and manage these captives and their activities. Collaborating with the Executive Director, she plays an integral role to strategically plan and manage the current captive programs as well as to formulate and design new strategies to utilize the captive platform to more efficiently finance University risks. With over 7 years of experience at the University of California, Karen is well versed in the risk management sector of higher education institutions. Ms. Hsi was named one of the 2018 “Ones to Watch” by captive insurance publication Captive Review, and was awarded the captive insurance industries “Rising Star” award at the US Captive Services Awards.
With over 25 years at the firm, Jason’s primary responsibilities include service in all facets of captive consulting and captive management engagements ranging from risk retention groups, group captives, and pure captive programs. Throughout his career, he has been responsible for the operations of a significant portfolio of captive insurance companies (pure and group) with services including accounting, underwriting, and regulatory compliance. He has been involved with many implementations of new captive programs in several US captive domiciles. Jason also serves as a member of the Board of Directors and as an Officer of many captive insurance companies. In his current role, Jason is responsible for the US captive management team, serves as project lead on several captive consulting engagements, and is the lead client executive on a portfolio of captive insurance companies (pure and group). Jason joined Willis Corroon Management (Vermont), Ltd. after graduating summa cum laude from Champlain College in Burlington, Vermont, with a Bachelor of Science degree and a concentration in accounting. Jason is a Certified Public Accountant licensed in the State of Vermont and is a member, in good standing, with the American Institute of Certified Public Accountants. Jason is also a licensed property & casualty insurance producer in several US states. He is an active Board of Director member for the Vermont Captive Insurance Association (VCIA), International Center for Captive Insurance Education (ICCIE), and the Nevada Captive Insurance Council.
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