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Corporate Regulation and Governance in Captives

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Delve into captive insurance governance matters including board attributes, board structure, and board accountability. With 30 years of insurance experience from the auditing, regulatory, and management side, Derick White, managing director of corporate governance and regulation for Strategic Risk Solutions, offers key insights into captive board governance.

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VCIA Award Recipients

August 19, 2014
At the recently concluded Vermont Captive Insurance Association (VCIA) Annual Conference, the 2014 award recipients were announced. Patricia L. Henderson of Strategic Risk Solutions, Vermont, was the winner of the Captive Crusader Award. Michael Lusk of Agrinational Insurance Company (Archer Daniels Midland) was the winner of the VCIA Industry Service Award. Kate Westover of Alternative Risk Financing Services and Michael Lusk were both honored with VCIA's Lifetime Honorary Member Award.

VCIA Captive Crusader Award: 2014

This award is presented annually by the staff of VCIA to the member who has best demonstrated commitment and dedication to the association through active committee service and contributions on special projects above and beyond the call of duty; responsiveness to and respect for the efforts of the VCIA staff; unflagging good humor, positive energy, and enthusiasm through thick and thin; and unwavering support of VCIA.

Recipient 2014 

Patricia L. Henderson, AIAF, CPIW

Team Leader
Strategic Risk Solutions Vermont Ltd.

Pattie Henderson is a team leader in the Burlington, Vermont, office of Strategic Risk Solutions, having joined SRS in 2002 after serving as president/CFO of SINSER Management Services and, prior to that, supervising accountant for Liberty Mutual. Her responsibilities include management and supervision of client accounts, as well as financial and regulatory reporting for single and group captives, reciprocals, and risk retention groups. Ms. Henderson received her B.S. in business administration/management from Keuka College and holds the Associate in Insurance Accounting & Finance designation. She is an immediate past board member of VCIA and currently serves on its Finance Committee.

VCIA Industry Service Award—2014

Industry Service Award recipients are chosen annually by the VCIA Board of Directors in recognition of someone who has best supported the captive industry and made contributions to the overall vitality and general welfare of the industry.

Recipient 2014

Michael Lusk, CPCU, AMR


Agrinational Insurance Company (Archer Daniels Midland)

Michael Lusk is president of Agrinational Insurance Company, a wholly owned subsidiary of Archer Daniels Midland. He joined Archer Daniels Midland Company in 1999 as vice president, Insurance & Risk Management. He is responsible for the global insurance and risk management functions for Archer Daniels Midland Company and its affiliates. Mr. Lusk came to ADM after his 25 years of experience as senior vice president, Risk Advisory Services, at IRMG. He started out as a fire protection engineer at Factory Insurance Association. Mr. Lusk is a graduate of the University of Texas at Dallas and Tufts University in Medford, Massachusetts. He is a former board chair of the VCIA.

VCIA Honorary Member Award—2014

The lifetime designation of Honorary Member is bestowed on individuals who, through extended periods of outstanding service or achievement, have demonstrated commitment and made contributions that have furthered the goals of the Vermont Captive Insurance Association and strengthened the captive industry as a whole.

Recipients 2014

Mike Lusk (see above)

Kate Westover

Vice President, Alternative Risk Financing Services

Innovative Captive Strategies, Inc.

Kathryn Westover is vice president of Alternative Risk Financing Services, Innovative Captive Strategies, Inc. Ms. Westover has over 20 years of experience in the captive insurance industry. She wrote the seminal captive guide, Captives and the Management of Risk, now in its third
 printing, and was instrumental in the formation of the International Center for Captive Education. Before joining ICS, she was president of Captive Advisory Services, a consulting company within the Argonaut insurance group. Prior to that, she was chief operating officer of Strategic Risk Solutions and president of American Risk Management, one of the leading captive management companies in Vermont, now part of AON. Ms. Westover has a B.A. and M.A. from Oxford University, England. She earned her Chartered Property Casualty Underwriter designation in 1991. 

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