Regulators: What’s going on?
Was it something I said? I just got done announcing the departure of Paulette Thabault as Commissioner of Insurance for the State of Vermont and now I have two more announcements.
JP Schmidt, Insurance Commissioner of the State of Hawaii and Peter Raymond, Director of Captive Operations for the State of Vermont, have both tendered their resignations to move into the private sector. Mr. Schmidt held the top post in Hawaii for seven years and indicated that he is glad to be continuing his work in the insurance industry, albeit, from the private legal sector. Mr. Raymond has put in over twenty years as a regulator in Vermont. He will be moving on as a contract auditor performing work for the Florida Hurricane Fund.
We wish them well in their new endeavors and are glad to see that they won’t be in roles that could create a conflict with some of the captives they once regulated.
- Captive Insurance
- Industry News
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Authors
Jeff, a Certified Public Accountant since 1990, has over 19 years experience in the captive insurance industry. Jeff has had experience working for a large broker, a self-managed captive insurance company and for the past 10 years has focused the majority of his time in the creation and formation of captive arrangements ranging from single parents to sponsored facilities to risk retention groups. He is an active participant with the Vermont Captive Insurance Association and other industry associations and has also spoken at several industry conferences. He has been a member of the VCIA’s legislative committee for the past 10 years. He is a graduate of the University of Vermont with a degree in Business Administration.
Gary, a Scottish Chartered Accountant, presides over the entire USA Risk Group family. He develops innovative alternative and traditional risk strategies and programs for clients and prospects of USA Risk Group. With over nineteen years of experience in the alternative market, he has been involved in the establishment of numerous single parent captives, association captives, risk retention groups, and traditional group insurance programs. He has also spoken at several national industry conferences, served on the NRRA membership committee, and was Treasurer of the Hawaii Captive Insurance Council. He currently serves on the Legislative Committee of the Vermont Captive Insurance Association and serves as a faculty member for the International Center for Captive Insurance Education.
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