Where the Captive World Comes Together.

Calling all VCIA members and first-time conference attendees! Join us for this combined session, in which those new to the VCIA experience gain exposure to what it’s like to be a member and how our annual general meeting is conducted. Get an overview of how the association functions and hear reports from the VCIA Board Chair and VCIA President.

Additionally, you will receive helpful advice from the conference chair about how to make the most of your conference experience and also learn about ICCIE opportunities. VCIA Conference Ambassadors will be identified as key figures who can support your conference experience.

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An exclusive behind-the-scenes tour of Shelburne Farms—a 1,400-acre working nonprofit and National Historic Landmark on the shores of Lake Champlain. The farm’s operations span dairy, cheesemaking, maple sugaring, forestry, market gardening, and historic preservation, producing a risk portfolio as complex and varied as the landscape itself.

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Reserved for captive owners, the tour offers a rare look at how an organization balances irreplaceable 19th-century structures, agricultural operations, guest hospitality, and environmental stewardship. Inspiring, educational, and set against Vermont’s late-summer countryside at its finest.

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Space is limited; please register early.

A well-designed feasibility study is the foundation of any successful captive program—yet the process is frequently misunderstood as a purely financial exercise. It is not. This session takes a broader view, examining how a rigorous feasibility process addresses coverage structure, risk appetite, funding strategy, commercial market interaction, and long-term strategic alignment.

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A panel of industry experts unpacks both the quantitative and qualitative dimensions of feasibility, equipping attendees with the clarity to determine whether a captive is the right fit—and, if so, how to structure it for enduring success.

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Learning objectives - Upon completion, participants will:

- Comprehend the basics of the captive feasibility process

- Evaluate the elements of the feasibility that are critical to the success of a captive program

- Gain practical insights into evaluating key considerations to ensure long-term alignment with organizational and risk management goals

- Understand key concepts and lessons that can benefit their own organizations

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1 CPE/CRE/VT CLE credit

Level: Basic

Technical expertise gets you in the room. Emotional intelligence determines what happens next.

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In captive insurance, long-term relationships are the foundation of every program. This interactive session examines how personality assessment and emotional intelligence can sharpen team building, improve decision making, and strengthen the stakeholder relationships that captives depend on.  

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Participants will explore how understanding individual strengths, blind spots, and communication styles translate into better governance, reduced conflict, and more resilient organizations.  

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By integrating emotional awareness into technical expertise, managers can create transparent, and collaborative environments., and organizations can improve client satisfaction, reduce turnover, and strengthen their competitive edge.

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Learning objectives - Upon completion, participants will:

- Apply personality assessment science to build stronger, more effective captive insurance teams.

- Balance analytical thinking with empathy to navigate high-stakes decisions and evolving market demands.

- Align personality strengths with specific role requirements to improve stakeholder satisfaction and reduce turnover.

- Integrate emotional awareness into technical expertise to foster trust and lead with authenticity.

1 CPE/CRE/VT CLE credit

Level: Advanced

The journey from commercial coverage to a single-parent captive is rarely straightforward—but for Bolla Oil, it has paid off. This session traces the company’s experience forming a captive in Vermont, examining how the program supports business growth, generates shareholder value, improves claims handling, and delivers competitive coverage that the commercial market could not match.

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Practical, candid, and grounded in real experience, this session is an ideal next step after Part I for anyone considering formation or seeking to understand what success looks like in practice.

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Learning objectives - Upon completion, participants will:

- Understand the basics of captive insurance function and structure

- Identify key considerations for organizing and forming a captive insurance company in Vermont

- Appreciate the strategic and financial benefits a captive can deliver—and the challenges to anticipate.

- Take away lessons applicable to your own organization’s risk and insurance strategy.

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1 CPE/CRE/VT CLE credit

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A lunch designed for candor. Captive owners across industries and experience levels gather for open conversation in a setting reserved exclusively for their peers. Veteran owners will be on hand to answer questions, share what has worked—and what has not—and offer the kind of frank, experience-driven insight that rarely surfaces in formal sessions.

Space is limited and registration is required. Captive owners and captive owner prospects only. Service providers not admitted. Your badge is your lunch ticket.

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Risk retention groups remain one of the most flexible—and most scrutinized—structures in the alternative risk transfer universe. This session examines RRGs across three dimensions: risk, regulation, and growth.

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On risk, the panel explores program structuring based on insureds’ risk profiles, commonality, and objectives, and addresses how approaches differ across industry sectors. On regulation, Vermont’s regulatory experts discuss priorities, expectations, governance best practices, and what the oversight relationship looks like in practice. On growth, panelists share recent trends, real-world examples of long-term program success, and the planning disciplines that make the difference between an RRG that thrives and one that stagnates.

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Learning objectives - Upon completion, participants will:

- Understand the range of uses for RRG structures and the nuances of different program designs.

- Identify key areas of regulatory focus and apply a working knowledge of state-based RRG regulation.

- Anticipate growth strategies for both new and established RRGs and recognize areas requiring improvement.

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1 CPE/CRE/VT CLE credit

Level: Advanced

You built a successful captive, now what? The captive supports your larger risk management goals and has a stable and growing level of surplus. It's built to withstand adverse events. Is now the time to put your captive on cruise control or is there more you can do?

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Mature captives may be able to take advantage of opportunities to expand or better leverage excess capital. This can be done by insuring higher limits of coverage or taking on new additional coverages such as property, cyber, or tenant liability, thereby capturing underwriting margin that would otherwise remain with the commercial market.

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Through a detailed case study, this session traces one company’s decision to expand its captive to cover all insurable risks: determining total risk appetite, engaging reinsurers to manage aggregate exposure, and reducing overall external insurance spend. The session also addresses when an updated feasibility—or re-feasibility—study becomes necessary and what that process entails.

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Learning objectives - Upon completion, participants will:

• Appreciate how premium/income into a captive may be increased without increasing the risk to the captive

• Recognize successful diversification benefits and when captives may be able to take on new or more risk through higher limits and/or new coverages

• Learn how to use a multi-line aggregate limit to support diversification and protect from catastrophic loss

• Understand how a captive can be used to evolve from insurance to risk financing optimization and support wider parent risks than traditional insurable lines

• Identify when an updated feasibility, or re-feasibility, study is necessary and what it entails.

1 CPE/CRE/VT CLE credit

Level: Advanced

What does it actually mean? This interactive session takes a refreshingly direct approach to the opaque language that fills actuarial reports and reinsurance agreements. Facilitators deliver a mock financial presentation to a captive audience—literally. When jargon strikes, a captive owner rings a buzzer and a “translator” renders the offending term into plain English. Audience members are encouraged to interrupt via the conference app. Equal parts educational and entertaining, this session will change how you read your next report.

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Coordinator: Taylor O’Brien, Marsh

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Content Advisor: Dawne Davenport, Marsh Captive Solution

VCIA opens its annual awards ceremony—honoring recipients of the Captive Crusader, Honorary Member, and Industry Service awards—before pivoting to the session the industry looks forward to most.  

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Vermont’s Chief Captive Regulator, Christine Brown, joins leading captive owners and industry experts for a fast-paced, wide-ranging conversation on the forces reshaping the landscape: regulatory developments, market trends, emerging risks, talent challenges, technology shifts, and the geopolitical currents that no captive can afford to ignore.

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Moderated by Richard Cutcher of Captive Intelligence, this annual anchor session blends real-time analysis, candid exchange, and forward-looking perspective—the kind of frank, informed discussion that is only possible when the right people are in the room.

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Learning objectives - Upon completion, participants will:  

- Identify key trends, risks, and emerging issues influencing captive insurance across regulatory, economic, technological, and geopolitical domains.

- Understand Vermont’s regulatory priorities and how they intersect with broader industry challenges and opportunities.

- Evaluate how market shifts and evolving exposures (cyber, ESG, supply chain, AI, etc.) are shaping captive strategy.

- Gain real world insight from captive owners on how they are adapting to current pressures and opportunities.

- Apply forward looking perspectives to strengthen governance, anticipate change, and position their organizations for longterm success.

1 CPE/CRE/VT CLE credit

Level: Basic

No agenda, no rote remarks—just insightful answers for your captive questions. This open forum gives attendees direct access to an experienced cross-disciplinary panel: a captive owner, captive manager, actuary, and attorney. Whether your question was left unanswered in another session, triggered by something you heard in the corridor, or has been sitting in the back of your mind for months, this is your opportunity to put it to the people best placed to respond.

Candid, interactive, and genuinely useful.

Learning objectives - Upon completion, participants will:

• Apply expert insights to projects and situations within their own captives

• Identify solutions or approaches to challenges faced by their captive in the future

• Understand how different service providers approach questions brought by clients

As organizations mature their enterprise risk management (ERM) practices, captives are evolving from tactical risk financing vehicles into strategic tools that help define and operationalize risk appetite across the business. This session features risk managers whose captives are at different stages of maturity, sharing how they embed their captives within their ERM programs to align retained risks with risk appetite, improve control over key exposures, and support strategic decisions. Attendees will hear practical examples of how captives are delivering stakeholder value through financial outcomes, resilience and flexibility, improved governance, and enhanced transparency.

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Learning objectives - Upon completion, participants will:

- Describe real-world examples of how captive owners use their captives to retain, finance, and actively manage key risks that are difficult or costly to insure in the traditional market.

- Identify practical ways captives can create stakeholder value—including financial benefits, strategic flexibility, improved transparency, and stronger governance.

- Evaluate where their own organization is in the captive and ERM lifecycle and consider next steps to better align captive strategy with broader risk and business objectives.

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1 CPE/CRE/VT CLE credit

Level: Intermediate

In this advanced session, you will come to understand the evolution of federal income tax treatment of captive insurance companies, as panelists dive deep into the case law shaping what qualifies as insurance for tax purposes, examines IRS guidance and qualification requirements, and analyzes where captive taxation is heading as enforcement intensifies.

Using real-world examples, the panel walks through tax analyses for both long-established captives and newly formed programs, highlighting common pitfalls, documentation considerations, grey-area judgement calls, and practical decision points. The format is deliberately interactive and discussion-driven—designed for experienced professionals seeking technical depth, not introductory overview.

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Learning objectives - Upon completion, participants will:

- Analyze recent and landmark court cases impacting captive taxation and insurance qualification.

- Evaluate the key factors required to qualify as insurance for federal income tax purposes.

- Apply tax analysis concepts to real-life captive scenarios, including mature captives and new formations.

- Assess emerging trends and anticipated regulatory focus areas affecting the captive industry.

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1 CPE/CRE/VT CLE/ ICCIE credit

Level: Advanced

Actuarial and auditing processes are vital to the long-term success of a captive insurer. Actuarial reviews ensure coverage is priced appropriately and reserves are sufficient for future claims. Audits verify the captive’s financial health. Regulators and boards rely on both functions for oversight. This session features a panel of service providers discussing best practices for actuarial analysis and annual audits, emphasizing collaboration and communication among stakeholders to enhance governance and maximize the value of professional services.

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Learning objectives - Upon completion, participants will:

- Understand the key roles of the actuary and auditor in support of a captive insurance company.  

- Identify and implement best practices for communicating with actuaries and auditors and presenting their findings to the board.

- Maximize the value of service providers so as to minimize the impact of unexpected occurrences to the captive program.

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1 CPE/CRE/VT CLE/ICCIE credit

Level: Intermediate

Governance is the infrastructure on which every successful captive is built. Without clear roles, genuine board engagement, and effective coordination across service providers, even the best-designed program will eventually falter.

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This session brings together a captive owner, captive manager, and actuary to share real-world perspectives on governance frameworks that work—and common patterns in those that do not. The conversation covers regulatory expectations, defined roles, transparency mechanisms, board decision-making, and how strong governance translates directly into long-term strategic resilience.

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Learning objectives - Upon completion, participants will:

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- Identify the key elements of an effective captive governance framework.

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- Explore practical approaches to improve transparency and strengthen decision-making.

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- Understand how governance can support risk management and broader business strategy.

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1 CPE/CRE/VT CLE/ICCIE credit

Level: Intermediate

Captives are increasingly recognized as strategic assets—not merely risk financing tools. But how do you quantify what yours is actually worth? And are you capturing all the value it could generate?

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Explore captive valuation: why it matters, where misconceptions arise, and what drives value creation. In this session, you will better understand captive value and uncover untapped revenue opportunities that extend beyond traditional programs. The panel will discuss why captive valuation matters in today’s market, address common misconceptions about captive economics, and highlight the core drivers that influence value creation.

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Through practical frameworks and case studies spanning extended warranty programs, tenant legal liability, construction, and voluntary benefits, the panel illustrates how captives can capture underwriting margin, support new business initiatives, and generate sustainable financial returns beyond traditional programs.

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The session will also introduce a framework for identifying bespoke captive opportunities, evaluating feasibility, and moving from internal buy-in to implementation. The discussion concludes with audience Q&A and actionable takeaways participants can apply within their own organizations.

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Learning objectives - Upon completion, participants will:

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- Understand the key drivers of captive value and common valuation methodologies.

- Identify traditional and nontraditional revenue opportunities suitable for captive structures.

- Recognize when captive valuations are most commonly required and why they matter.

- Evaluate new captive program ideas and build a compelling internal business case.

- Outline a practical roadmap for implementing new or expanded captive programs.  

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1 CPE/CRE/VT CLE/ICCIE credit
Level: Advanced  

AI-driven risk intelligence, from computer vision to claims analysis, is shifting captives from passive risk financing vehicles into active risk transformation platforms. This session explores how computer vision, data science, and predictive analytics are being applied inside captives to improve loss performance, inform underwriting decisions, and strengthen long-term captive sustainability. The facilitators will lead a stimulating conversation about how they use AI in their businesses and the direction they see AI use in captives headed. Audience members will then have the opportunity to share their own experiences and ask questions of one another, resulting in an impactful and collaborative discussion.

A collaborative, forward-looking conversation with practical grounding.

Coordinator: Bailey Roese, Dentons Bingham Greenebaum LLP

Content Advisor: Maigh Wright, Marsh  

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Join faculty, a former student, and industry experts as they share the story behind Butler University’s groundbreaking student-run captive insurance company—licensed right here in Vermont. This session explores how experiential learning, academic collaboration, and real-world risk management come together to prepare the next generation of captive professionals. Hear firsthand what it takes to form and operate a captive, the lessons learned along the way, and how this innovative model is shaping the future of captive education.

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Learning objectives - Upon completion, participants will:

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- Identify the key components of experiential learning models and how academic and industry collaboration enhances captive insurance.

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- Assess the long-term impact of academic captive programs on talent development and the future workforce within the captive insurance sector.

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- Describe the real-world risk management activities students engage in and how these experiences prepare them for careers in insurance.  

1 CPE/CRE/VT CLE/ICCIE Credit

Level: Basic

As cyber risk continues to evolve, many organizations struggle to determine whether their cyber insurance keeps pace with today’s threats. This panel will examine current developments in the cyber liability market—including ransomware, supplychain exposure, and emerging exclusions—and how insurers are responding through tighter underwriting standards and changes in policy language. Panelists will share practical perspectives on common coverage gaps, insurer expectations, and considerations for structuring cyber risk retention and transfer in the current market.

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Learning objectives - Upon completion, participants will:

- Recognize how recent shifts in underwriting standards, policy language, and exclusions are affecting cyber coverage availability and outcomes.

- Identify the most common cyber insurance coverage gaps and understand how they typically surface during claims or renewals.

- Evaluate practical considerations for retaining versus transferring cyber risk in light of current market constraints and insurer expectations.

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1 CPE/CRE/VT CLE/ICCIE credit

Level: Intermediate

A focus group exclusively for pure captives to have candid, peer-to-peer discussions.

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Three concurrent focus groups—each tailored to a specific captive structure—give owners the chance to discuss the questions that matter most to their programs in a candid, peer-only environment. Whether the questions come prepared in advance or arise organically in the room, there is ample time for genuine discussion and peer networking.

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Groups are organized by structure: sponsored and protected cell captives; pure and single-parent captives; and RRGs and group captives.

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Content Advisor: Michelle D’Amico, Aon

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A focus group exclusively for RRGs to have candid, peer-to-peer discussions.

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Three concurrent focus groups—each tailored to a specific captive structure—give owners the chance to discuss the questions that matter most to their programs in a candid, peer-only environment. Whether the questions come prepared in advance or arise organically in the room, there is ample time for genuine discussion and peer networking.

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Groups are organized by structure: sponsored and protected cell captives; pure and single-parent captives; and RRGs and group captives.

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Content Advisor: Michelle D’Amico, Aon

A focus group exclusively for sponsored and protected cell captives to have candid, peer-to-peer discussions.

Three concurrent focus groups—each tailored to a specific captive structure—give owners the chance to discuss the questions that matter most to their programs in a candid, peer-only environment. Whether the questions come prepared in advance or arise organically in the room, there is ample time for genuine discussion and peer networking.

Groups are organized by structure: sponsored and protected cell captives; pure and single-parent captives; and RRGs and group captives.

Content Advisor: Michelle D’Amico, Aon

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Drawing on perspectives from a captive manager, consultant, and captive owner, the panel walks through how organizations and their service teams develop, select, and evaluate performance metrics over the life of a captive program. Because no two captives are alike, the session takes a lifecycle approach that acknowledges how the right metrics evolve as a captive matures. It also addresses the practical challenge of presenting metric findings clearly and compellingly to a board or C-suite audience.

Like captive programs, if you’ve seen one metric, you’ve seen one metric.

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Learning objectives - Upon completion, participants will:

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- Identify metrics broadly used across the captive industry.

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- Select the metrics most relevant to your specific captive program.

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- Evaluate identified metrics critically and interpret what they reveal about program performance.

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- Present metric results persuasively to board and C-suite audiences.

1 CPE/CRE/VT CLE/ICCIE credit

Level: Basic

The captive industry’s long-term strength depends on the talent it develops today. This interactive discussion—convened in collaboration with Vermont Captive Insurance Emerging Leaders—examines the intersection of succession planning, sustainability, and career development in the captive workforce.

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Participants explore practical strategies for attracting, retaining, and empowering the next generation of captive professionals, drawing on open dialogue and shared experience.  

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Key topics:

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- Succession planning and developing future captive leaders

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- Sustainability efforts driving industry growth

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- Career pathways and opportunities within the captive sector

Coordinator: Ariel Vadeboncoeur, Advantage

Content Advisor: Aaron Ciullo, JM Family Enterprises

With global healthcare costs expected to rise more than 10% again in 2026, Risk Management and HR departments are working together to face their common challenges, raising the profile of healthcare costs within the larger organization, leveraging integrated data and workforce demographics, and thinking about risk on a portfolio basis. Captives are the bridge, and advanced analytics can help HR and risk professionals make the case for using the captive to take risks (and profits) back from the commercial insurance market. Learn how some of world’s largest and most respected companies are doing it.

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Learning objectives - Upon completion, participants will:

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- Understand the common areas of interest between HR and corporate risk management.

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- Learn how including employee benefits risk can improve the capital and tax efficiency of a captive insurer.

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- Practice ways that risk management and HR groups are working together today to leverage their combined buying power to create synergies via a captive insurance subsidiary.

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- Take away lessons from a specific case study on how one large organization is leveraging its captive as a tool to tackle rising healthcare costs, including the use of integrated data.

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- Identify the current market and regulatory challenges, and how some organizations have surmounted them.

1 CPE/CRE/VT CLE/ICCIE Credit

Level: Intermediate

Coordinator: Ed Koral, WTW

Content Advisor: Dawne Davenport, Marsh

Serving on the board of a captive insurance company is a distinctive responsibility. Directors are often representatives of the owner or policyholder without a background in insurance or finance—yet they carry fiduciary duties, face complex regulatory expectations, and make decisions that directly affect both coverage and capital.

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Through a combination of structured instruction and multiple live mock board sessions, this two part workshop equips current and prospective directors with practical knowledge, frameworks, and confidence to govern effectively.

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PART I: The panel will review relevant laws and regulations applicable to directors of captive insurance companies with a focus on governance standards applicable to risk retention groups (RRGs) as the foundation for strong governance. They will also highlight and discuss recommended best practices for the practical and effective management of a regulated insurance company.

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The result: directors will walk away more confident in their roles and responsibilities and better prepared to face the challenges of serving on a board of a captive insurance company.

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Learning objectives - Upon completion, participants will:

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- Understand the fiduciary duties and governance responsibilities of directors of captives.

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- Recognize common governance pitfalls and regulatory red flags.

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- Apply practical decision-making frameworks to real-world board scenarios.

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- Use and implement onboarding and governance tools tailored to captive directors.

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1 CPE/CRE/VT CLE/ICCIE credit

Level: Basic

This session covers the rapid rise of agentic insurance models and their use of captive structures to manage risk and enhance flexibility. The expert panel—drawing on perspectives from actuarial science, legal counsel, and an active Vermont captive owner—explores the regulatory implications, actuarial considerations, and practical governance questions that established captives must address as they evaluate responsible AI integration. Less theoretical than operational, this session provides actionable guidance for the next wave of captive innovation. Discover best practices for established captives seeking to integrate artificial intelligence responsibly-balancing efficiency, compliance, and governance.

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Learning objectives - Upon completion, participants will:

- Understand how agentic AI models are being applied within captive structures to manage risk and improve operational flexibility.

- Identify the key regulatory, actuarial, and governance considerations associated with AI integration in captive programs.

- Develop practical strategies for responsible AI adoption that balance efficiency, compliance, and oversight.

1 CPE/CRE/VT CLE/ICCIE credit

Level: Intermediate

An open conversation with Vermont’s captive regulatory team. No prepared remarks, no filtered answers—just the opportunity to ask the questions that matter most to your captive, directly to the people responsible for oversight.

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Topics covered in previous years have ranged from licensing best practices and business plan amendments to filing requirements, examination preparation, and the data-informed trends regulators are watching. Whether you are a compliance veteran or relatively new to the Vermont domicile, this session offers clarity and practical guidance that is hard to find anywhere else.

Reinsurance provisions can make—or break—the effectiveness of a captive insurance program. Poorly drafted or misunderstood clauses often lead to disputes, coverage gaps, and unintended financial exposure. This panel brings together the practical perspective of a captive owner and the legal insight of an experienced insurance litigation attorney to explore how to identify, negotiate, and avoid problematic reinsurance provisions before they become costly issues.

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Attendees will gain a clearer understanding of common pitfalls in reinsurance agreements, including ambiguous wording, misaligned risk transfer expectations, and dispute-triggering clauses. The session will also examine real-world examples of how these issues have played out in practice, offering actionable guidance on structuring agreements that stand up to scrutiny.

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Whether you are forming a new captive or refining an existing program, this discussion will equip you with practical strategies to strengthen your reinsurance arrangements, minimize legal risk, and ensure your captive operates as intended.

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Learning objectives - Upon completion, participants will:

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- Identify common problematic reinsurance provisions (e.g., ambiguity in coverage triggers, or dispute resolution clauses and explain their potential impact on captive performance.  

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- Analyze how poorly structured reinsurance clauses can create financial, regulatory, or legal risks for captive insurance programs.  

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- Evaluate reinsurance agreement language to determine whether it meets effective risk transfer and aligns with the captive’s strategic objectives.  

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- Assess the roles of captive owners and legal counsel in negotiating and reviewing reinsurance agreements to mitigate exposure.  

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- Explain how dispute trends and litigation scenarios influence best practices in reinsurance contract design.

1 CPE/CRE/VT CLE/ICCIE Credit

Level: Intermediate

The macroeconomic environment has rarely been more consequential for captive investment portfolios. Slowing job growth, persistent inflationary pressure, shifting monetary policy, and volatile capital markets have all combined to create a backdrop that demands active attention from captive owners and their investment managers.

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This session provides a structured update on key macroeconomic themes, global monetary policy, and the current direction of interest rates. The discussion focuses on three areas: the present state of the economy, what lies ahead, and the specific implications for captive portfolios. With participation from an investment manager whose sole focus is managing capital for captives and RRGs, alongside case studies from two Vermont captive owners, this session is both analytically rigorous and practically grounded.

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Learning objectives - Upon completion, participants will:

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- Identify the forces driving the economy and capital markets.

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- Evaluate the impact of macroeconomic developments on captive investment portfolios.

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- Apply forward-looking economic perspectives to captive investment strategy and asset allocation decisions

Level Intermediate

1 CPE/CRE/VT CLE/ICCIE Credit

This discussion group brings together fronting carriers, brokers, and captive owners to examine what makes these relationships work, where they break down, and how all parties can build the kind of long-term, value-driven partnerships that captive program require.

The conversation is organized around three pillars:

• Trust – Establishing a strong foundation through consistency, predictability, and alignment.

• Transparency – Eliminating surprises through open communication and clear alignment of incentives.

• Long-Term Value – Moving beyond transactional interactions toward strategic collaboration. As captives represent multi-year commitments, the panel will highlight how stable fronting partnerships can drive program growth and improve efficiency.

Attendees will leave with actionable insights on how to strengthen trust, improve transparency, and create more value-driven fronting relationships.

Serving on the board of a captive insurance company is a distinctive responsibility. Directors are often representatives of the owner or policyholder without a background in insurance or finance—yet they carry fiduciary duties, face complex regulatory expectations, and make decisions that directly affect both coverage and capital.

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Through a combination of structured instruction and multiple live mock board sessions, this two part workshop equips current and prospective directors with practical knowledge, frameworks, and confidence to govern effectively.

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PART II: Through a simulated board meeting, presenters will then apply these relevant laws, regulations, and best practices to guide attendees through real-world, boardroom scenarios—including responding to a regulator’s request, debating a surplus note repayment and policyholder dividend, managing a sudden increase in claims activity, and addressing potential conflicts of interest.

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The result: directors will walk away more confident in their roles and responsibilities and better prepared to face the challenges of serving on a board of a captive insurance company.

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Learning objectives - Upon completion, participants will:

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- Understand the fiduciary duties and governance responsibilities of directors of captives.

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- Recognize common governance pitfalls and regulatory red flags.

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- Apply practical decision-making frameworks to real-world board scenarios.

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- Use and implement onboarding and governance tools tailored to captive directors.

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1 CPE/CRE/VT CLE/ICCIE credit

Level: Basic

What does a financial strength rating actually mean—and how does a rating committee arrive at one? This session answers both questions by walking participants through a live, simulated rating process for a hypothetical captive. A panel of experts applies the same building-block methodology used in actual ratings, making explicit what is typically opaque: which factors are assessed, how quantitative and qualitative elements are weighted, and how a committee reaches its final determination.

Featuring insight from an AM Best-rated captive insurer and an experienced captive manager, this is a rare behind-the-scenes look at a process that directly affects captive strategy, reinsurance terms, and stakeholder confidence.

Learning objectives - Upon completion, participants will:

- Understand each of the rating assessments applied and how they are evaluated in the ratings process to arrive at a final financial strength rating.

- Discover which attributes bolster or detract from the final rating assessment.

- Recognize which elements are quantitative and qualitative and how each is incorporated into the rating.

- Provide an understanding of how the rating process works and how a committee decision is reached.

- Gain insights and perspectives from an AM Best-rated captive insurer and captive manager.

1 CPE/CRE/VT CLE/ICCIE Credit

Level: Intermediate

Designed for captive owners and organizations considering formation, this interactive forum offers a candid, peer-driven conversation focused on real-world experience and forward-looking strategy.

Building on connections formed during the Captive Owner Focus Groups earlier in the conference, this session creates a collaborative town hall environment where participants can engage openly, share lessons learned, and exchange practical insights across industries and captive structures. The discussion will highlight both opportunities and challenges, encouraging thoughtful dialogue and diverse perspectives.

Whether you oversee an established captive or are evaluating the path forward, this session provides a valuable opportunity to benchmark ideas, ask candid questions, and strengthen your peer network—leaving with meaningful connections and actionable takeaways that extend beyond the conference.

Leave your VCIA 26 experience with a burst of creative inspiration from Disney's former Head of Innovation and Creativity Duncan Wardle.

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The ability to think creatively is the one core human truth that will remain relevant in the brave new world of Artificial Intelligence.

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Do you believe that you are not the “creative type”? For most, this has happened so many times that we end up actually believing it. For adults, not being creative is an accepted fate.

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With an education and corporate structure that encourages finding the single “right answer” to every question, we are trained to fall in line and shut down that creative portion of our brain.

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During The Theory of Creativity™ keynote, Duncan Wardle will share innovation tools developed from experience with thousands of global Fortune 500 companies and 30 years of experience with the Walt Disney Company, most recently as Head of Innovation & Creativity.

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Walk away with a series of unique Creative Behaviors and Innovation Tools to leverage your creative mind and deliver revolutionary thinking to drive substantial results in all areas of your business.