Another Busy Season In the Books
It’s March 1st and another busy season is behind us. Of course, we still have the audits and loss certifications to come and the ever present NAIC quarterly files. In this new age of corporate governance and regulatory compliance, is two months enough time to accurately reflect the financial health of our insurance companies? There has been talk of extending the filing deadlines for reporters other than NAIC filers. This may alleviate some of the pressure but to some, pressure is good. The other school of thought is that the busy season is compact and distinct. Moving deadlines out will only spread the pressures over a longer time horizon and interfere with current year work. From a regulatory perspective, the current timing gives the appearance that the insurance industry is properly regulated and that the consumers’ interest is in the forefront. Currently the insurance industry in general doesn’t have the greatest reputation having been in the press lately as one of the main factors surrounding the health care bill in front of Congress. Now may not be the time to have the appearance that we are slacking with regulatory compliance.
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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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