WRCIC 2026 Opens with Captive Insurance Leadership and Risk Insights

The Western Region Captive Insurance Conference (WRCIC) opened in Las Vegas with remarks from Renea Louie, WRCIC chair and CEO of Sotera Global Management, who welcomed attendees and highlighted key developments shaping this year's event. Attendance included participants from 43 states, along with regulators from 10 states.

A central point of Ms. Louie's remarks was a milestone for the conference program: 50 percent women speakers. She noted that the outcome was intentional, reflecting the work of the session committee to ensure balanced representation while maintaining a high-quality program.

She emphasized that the milestone reflects the strength and expertise of women across the captive insurance industry and positioned it as a step forward in representation. At the same time, she encouraged experienced professionals to connect with newer attendees, stressing the importance of mentorship and continuity within the industry.

Photo provided courtesy of the Western Region Captive Insurance Conference

The opening session also included remarks from Mitch Cantor, executive director of the International Center for Captive Insurance Education (ICCIE). Ms. Louie presented ICCIE with a $1,000 donation on behalf of the WRCIC board, recognizing the organization's role in industry education. Mr. Cantor noted that ICCIE recently graduated its 800th Associate in Captive Insurance (ACI) designee and recognized the latest graduate, Victor Gallardo of Helio Risk.

The keynote address was delivered by Mark Habersack, executive director of risk management at Resorts World Las Vegas, who focused on the practical realities of managing risk within a large, continuously operating resort environment.

Mr. Habersack described the operation as one where exposures shift constantly, depending on time of day, crowd levels, and activity across the property. A weekday afternoon, he noted, presents a very different risk profile than a holiday weekend or a late-night event, requiring risk management to be visible and responsive in real time.

He illustrated this with a series of examples drawn from day-to-day operations, including guest behavior, weather-related disruptions, and unexpected incidents across the property. These situations, while often unpredictable, reflect the types of exposures that arise when large volumes of people interact with a complex environment.

Beyond what guests see, he noted that much of the risk exists in the underlying infrastructure that supports the operation, including facilities, food and beverage, housekeeping, and security functions. At that scale, he said, the resort operates similarly to a small city, with multiple systems and departments that must function together.

That complexity carries through to how risk is managed. Mr. Habersack described a structured approach that includes regular engagement with business units and periodic enterprise-level reviews to identify and prioritize key exposures. The objective is not only to track risk, but to understand how it develops across the organization and where it may shift over time.

For the captive insurance audience, he noted that captives can play a role in aligning coverage with actual exposures and managing volatility. At the same time, he explained that Resorts World Las Vegas does not currently operate its own captive insurance company, although the option is evaluated as part of ongoing insurance strategy discussions.