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The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance

The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance

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The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance explores the challenges presented by today's business and economic upheaval, as well as the hardening insurance market, and what it means for the captive insurance industry.

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Lance Abbott Elected Chair of CICA's Board

Empty board room table with portrait on wood paneled walls
March 13, 2020

Lance Abbott, president of BevCap Management, LLC, director of BevCap Captive group, and director/shareholder of BevCap's sponsored cell captive, has been elected chair of the board of directors of the Captive Insurance Companies Association (CICA).

In a statement, CICA said its board gathered this week on a conference call instead of its in-person meeting typically held after CICA's International Conference. This year's conference was canceled due to COVID-19.

Mr. Abbott, along with partners Joe LaMantia III and family and Standard Sales Company, founded BevCap Management in 2008 to manage BevCap Captive Group, then a newly formed homogeneous group insurance captive for beer distributors. BevCap Management has since grown to manage multiple homogeneous group captives in various domiciles and founded BevCap Cayman, a heterogeneous cell captive company for medical stop-loss insurance.

In addition to Mr. Abbott, the CICA board elected Robert "Skip" Myers as vice chair and Renea Louie as secretary/treasurer. Mr. Myers is the managing partner of Morris, Manning & Martin LLP's Washington, DC, office and cochair of the firm's insurance and reinsurance practice. Ms. Louie is vice president of Pro Group Captive Management Services.

Returning CICA board members include Courtney Claflin, executive director of captive programs at the University of California, Office of the President; Fredrik Finnman, group risk manager, Sandvik Group; Steve McElhiney, senior vice president and director of reinsurance, Artex Risk Solutions, Inc., and CICA board immediate past chair; Michael Scott, attorney, Law Office of Allison & Mosby-Scott; Michael Zuckerman, assistant professor, Temple University; Colin Donovan, president, STICO Mutual Insurance Company, a risk retention group; and Deyna Feng, captive manager, Cummins Risk International.

Newly elected to 3-year terms on the CICA board were Nicholas Hentges, co-CEO of Captive Resources, LLC, a consultant to member-owned group captives, and Mary Ellen Moriarty, vice president for property and casualty at EIIA.

CICA previously announced that Erin Hackett, senior audit manager at Crowe, had been appointed to a 1-year term on the organization's board.

"We are excited to have Nick, Mary Ellen and Erin joining the CICA board," CICA President Dan Towle said in the statement. "Their expertise is a strong fit for CICA's strategic priorities and our commitment to developing the next generation of captive professionals."

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