MONTPELIER, VT – Captive Review, a leading London-based trade publication for the captive insurance industry, has released their annual “Power 50” and “Ones to Watch” selections. These prestigious polls recognize the most influential individuals in the global captive insurance industry. A record ten captive insurance professionals with ties to Vermont were recognized, more than any other jurisdiction.
Sandy Bigglestone, Director of Captive Insurance at the Vermont Department of Financial Regulation, was one of only two regulators recognized and also the highest-ranking, climbing five spots to number 17 in this year’s “Power 50”. “Sandy’s imprint goes far beyond Vermont’s regulations,” said Dave Provost, Deputy Commissioner of Captive Insurance. “Her leadership on the NAIC’s risk retention group task force is just one example of how constructively she works with other regulators as well as the business community.”
Five Vermont-domiciled captive owners were also recognized, including: Julie Bordo (43), President and General Manager, PCH Mutual Insurance Co; Steve H. Legg (38), Director Risk Management, Olympic Casualty Insurance; Andrew Baillie (32), Program Director Global Insurance Property, The AES Corporation; Heather McClure (27), Chief Risk Officer, OU Medicine; and Deyna Feng (20), Director Captive Programs, Cummins Inc. Collectively, these individuals account for more than half of all captive owners represented on the “Power 50”.
Vermont captive professionals also featured on the “Power 50” included Rich Smith (25), President, Vermont Captive Insurance Association, and Nancy Gray (15), Regional Managing Director Americas, Aon Captive and Insurance Management. “Vermont has long been home to some of the most influential and respected captive professionals in the industry,” said Mike Pieciak, Commissioner of the Department of Financial Regulation. “The individuals with ties to Vermont recognized on this list are not only at the top of their fields but also give back continuously to the industry with their time and talents.”
Also announced was Captive Review’s “Ones to Watch” list. The “Ones to Watch” category recognizes individuals that have recently risen to prominence in the industry and that will be looking to make their mark in the years ahead. Erin Hackett, Senior Audit Manager with Crowe and a Vermont-based service provider, was recognized for her many professional accomplishments, including becoming the youngest-ever appointee to the Captive Insurance Companies Association (CICA) Board of Directors and for her work as chair of CICA’s NextGen Taskforce.
Ian Davis, Vermont’s Director of Financial Services, was also recognized for a third straight year on the “Ones to Watch” list. “Davis continues to be one of the names everyone knows” said Lauren Ingram, Editor of Captive Review. “Davis has effectively become the face of Vermont’s industry, engaging the US and international captive industry with charm and skill. Projects such as trade missions to Mexico and travelling to events in Europe have meant that Vermont remains not only the largest domicile but the most innovative.”
Captive insurance is a regulated form of self-insurance that has existed since the 1960’s and has been a part of the Vermont insurance industry since 1981, when Vermont passed the Special Insurer Act. Captive insurance companies are formed by companies or groups of companies as a form of alternative insurance to better manage their own risk. Captives are commonly used for corporate lines of insurance such as property, general liability, products liability, or professional liability.