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Kathleen Waslov Retires—Captive Insurance Person of Interest

December 20, 2018

Kathleen Waslov, a consultant and long-time expert in the growing field of funding employee benefit risks through captives, will retire from Willis Towers Watson PLC at the end of December.

"I've had 35 wonderful years in the insurance industry, but now it is time to do something different," said Ms. Waslov, who is principal-consulting for Willis Towers Watson's global captive practice in Boston.

Looking back at her tenure in the insurance and captive fields, Ms. Waslov said what she enjoyed most was the "intellectual challenge of the insurance industry and risk management profession."

Ms. Waslov is probably best known for her work with employers who, in most cases, have needed approval from the US Department of Labor to fund employee benefits, such as life and long-term disability coverage, through their captives.

That approach, Ms. Waslov says, "opens opportunities for corporations to insure benefit liabilities and reduce costs, which is the purpose of captive financing."

Indeed, Ms. Waslov was directly involved with such well-known employers as Columbia Energy Group, The Coca-Cola Co., and Sun Microsystems Inc. in their applications—all successful—to fund employee benefits through their captives.

Those who have worked with Ms. Waslov note her many talents.

Ms. Waslov "exemplified all the best qualities of a consultant—relentless searching for the facts, an inquisitive mind, and a desire to always put the client first," said Mitchell Cole, a now-retired Willis Towers Watson managing director in Greenwich, Connecticut, who hired Ms. Waslov in 1999 to be part of what was then known as the Watson Wyatt risk management team.

"The rule of thumb she used for the amount of capital required for writing medical stop-loss in a captive—25 percent of expected losses—became one of the few reliable standards for those emerging programs," said Hugh Rosenbaum, a retired Willis Towers Watson consultant in Haverford, Pennsylvania.

Pictured above is Kathleen Waslov, principal-consulting for the global captive practice of Willis Towers Watson PLC. Photo is courtesy of Willis Towers Watson.

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