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Sessions Information
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August 8, 2023
10:30 am - 11:30 am
Session Type: Session
Session Capacity: N/A
Once you've built the business case and established your captive, the need for internal and executive buy-in doesn't end there. Risk managers and captive owners need to constantly communicate the value of the program, results experienced, and potential future strategies. This is especially true with market turns, in that you need to be prepared to defend the surplus your captive has built up during difficult economic times, such as those in which we now find ourselves.
This presentation will provide guidance on communicating with your Board(s) and internal teams about your captive: how to frame the program, what kind of verbiage will resonate with each stakeholder, and ultimately how to ensure it remains successful as a critical organizational tool. In today’s economy, organizations may be looking to their captive’s surplus as a means for cash flow. While there is a time and place for transactions like this, it's important to ensure that the captive remains healthy and that short-term priorities don't prohibit achieving long-term risk management goals.
Learning objectives – Upon completion, participants will be able to: • Understand the priorities of the different stakeholders involved in a captive program • Utilize effective language and communicate to the right audience regarding captive performance and importance • Develop agreed-upon guidelines as to when a captive’s surplus can and should be reallocated to ensure the health of the captive
Level: Intermediate
Prerequisites: Proficient understanding of captives
Field of Study: Specialized Knowledge 1 CPE/CRE/VT CLE credit ICCIE Credit
Content Advisor: Ian Davis, M&T Bank Coordinator: Christine Culgin, Spring Consulting Group
Moderator: Allan Autry, Johnson Lambert LLP ...
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Session Speakers
Organization: Johnson Lambert LLP
Allan Autry, CPA, is a Tax Partner with Johnson Lambert LLP, a multi-office, niche-focused firm that provides audit, tax and consulting services to insurance entities as well as nonprofit organizations and employee benefit plans. Allan has over 14 years of experience serving the insurance industry and is known for his excellent client service. He has assisted clients with a myriad of tax issues over the years, including special calculations, tax planning, corporate reorganizations and mergers and acquisitions. Allan received his B.S. in Business Administration, magna cum laude, from Catawba College and M.A., magna cum laude, from North Carolina State University.
Organization: Spring Consulting Group, LLC
With over 25 years of industry experience, Karin is an internationally recognized thought leader in insurance, risk and employee benefits. Karin’s expertise includes captive entities, designing new health/life products, and evaluating benefits strategies and funding. She holds eight patents in insurance, sits on the Fallon Health Advisory Board and teaches a course at the International Center for Captive Insurance Education. Karin has won numerous awards and is a licensed insurance advisor for life, health and property and casualty.
Mike Lubben is the Director, Global Risk Management for the Henry Crown Company - a large multi-national conglomerate of real estate and manufacturing. He leads a staff responsible for Enterprise Risk Management, Safety, business continuity, claims and insurance purchasing for this diverse company with over 16,000 employees. For 30 years Mike has led Risk Management Departments for Fortune 1000 or large privately held firms.
Mike is also the President of Pinnacle Mutual Insurance Company and Pinnacle Commercial Insurance Company, Vermont-domiciled insurance captives.
Mike is a regular “visiting professor” for the Risk Manager in Residence program at RIMS, and he has an MBA from St. Ambrose University with an economics degree from The University of Iowa. He holds industry designations of Chartered Property Casualty Underwriter (CPCU), Certified Risk Manager (CRM) and Associate in Claims (AIC).
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