SIIA Chicago: Successful Captive Insurance Programs Showcased

A collection of successful captive insurance programs are slated to be showcased during the upcoming SIIA National Conference & Expo, scheduled for October 12-14, 2010 in Chicago. The Alternative Risk Transfer educational track also includes big name industry speakers and timely topics of interest to employers, captive managers and other industry service providers.

SIIA is pleased acknowledge the Montana Captive Insurance Association, Inc. (MCIA) as the sponsor of the Alternative Risk Transfer Educational Track.

Captive/RRG success story program highlights include:

Given current economic conditions, industry observers would conclude that most ART programs connected to the construction industry would be challenged. But this is not case for Preferred Contractors Insurance Company, RRG, which has incorporated protected cells, created a separately-owned captive, and formed a membership association that have contributed to the RRGs continued growth despite otherwise negative market conditions. Dave Pike and Phil Salvagio of PCIC share with attendees how this has been done.

Using ART programs for medical/health benefits has been an elusive goal for many years due to significant regulatory and marketplace hurdles, but this is starting to change. Chuck Wilson, executive director of National Systems Contractors Association, will describe how that organization has successfully created a medical benefits captive for small- and mid-sized employer. You will hear how the program utilizes a large national provider network and requires groups to participate in proactive health wellness and disease management programs.

In another example of the convergence between self-insured group health plans and ART programs, Mark Smidt, director of captive operations for EBMS Re, will tell the interesting story of how this captive was created by a health care TPA to help stabilize medical stop-loss premium costs for their self-insured clients while preventing the need to “laser” individual plan participants.

While captives are most often associated with Corporate America, Mark Wilson, EVP & Chief Financial Officer for the Housing Authority Insurance Group, has been invited to detail how this innovative ART program supports public housing projects, 501(C)(3) non-profits, low income housing and multi-family apartment owners under the low income housing tax credit program with special niche insurance solutions.

Supplementing these captive success stories, the ART education track includes a great selection of advanced-level topics including:

Kevin Doherty, partner with Burr Forman, LLP and chairman of SIIA’s ART Committee, will moderate what promises to be lively panel session discussion focused on the NAIC Regulatory Agenda and the ART industry.

One of the hottest topics within the ART industry today is how companies are utilizing captives for employee benefits. SIIA has put together a panel to talk about employee benefit captive trends for large companies consisting with two industry experts, Steven Fedele, assistant vice president with Munich Re America, and Sherif Zakhary, head of corporate life & pensions for Zurich Global Life, along Delaware Insurance Commissioner Karen Weldin Stewart.

Captives are formed for many different insurance, business and economic reasons. In certain cases, the creation of a captive will generate tax efficiencies. Arthur Koritzinsky, managing director for Marsh, Inc. Captive Solutions, will provide an overview of the relevant tax issues that employers should consider as part of the captive formation process.

Closely connected to taxation, the state of insurance accounting is in a state of flux, which is of direct concern to those responsible for managing captive insurance companies. One of the leading accountants in the industry, Glenn Saslow, partner with Saslow Lufkin & Buggy, LLP, teams up with Brenda Olson, president of ORG Captive Management and Chairwoman of the Montana Captive Insurance Association (MCIA) to educate attendees about the key differences between statutory accounting principles, generally accepted accounting principles, and the emerging international financial reporting standards as they relate to captive/RRG financial reporting. You will come away from this session with a clear idea of what you should be doing now for the changes in store.

Greg Lang, senior vice president with Munich Reinsurance America, Inc., joins Chartis Captive Managements Services’ Chief Credit Officer

David Noyes for a very timely session on Alternative Collateral Options for Today’s Credit Environment.

We also welcome those who want to learn how captive insurance programs operate with a “Captive Insurance for Beginners” pre-conference session in order to give novices a head start on full conference participation. Phil Stevens, vice president with Chartis Captive Management Services will lead this session.

Additional sessions to cover topics such as:

  • Employee Benefit Captives for Small and Mid-Sized Employers
  • Fueling Income Growth Through Agency Captives
  • Where to Domicile Your Captive
  • Hot Claims-Related Within the Captive/ART Community
  • ART Solutions to Mitigate Healthcare Financial Risks Caused by Pandemics

Of course, there is more to the SIIA National Conference than just top-notch education. The networking opportunities are unmatched and it is home to the industry’s largest trade show. In short, if you represent a captive insurance company/RRG, a company interested in understanding whether ART programs may by a good solution, or an industry service provider, this is a must-attend event.

Conference registration forms can be accessed on-line by clicking here. For exhibiting/sponsorship information, please contact Justin Miller at 800/851-7789, or via e-mail at jmiller@siia.org.

We look forward to seeing you in Chicago.