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Mancini's Musings on the 2001 VCIA Conference

(More lighthearted post-conference frivolity from Chris Mancini, CEO, captive.com)

It's hard to believe that another VCIA Conference has come and gone. I've been clicking my heels together all day, but nothing happens. Yikes, Toto, we're not at the The Inn at Essex any more!

KPMG's amazing reception at the Trapp Family Lodge, and fantastic banquets at Shelburne Farms and Pauline's still produce a Pavlov's Dogs type of response in me -- clearly hazardous to my computer's keyboard. Alas, such memories are quickly receding, only to be replaced by the reality of the bathroom scale.

This year's event was more spectacular than ever, despite the record breaking heat that gripped the northeast -- Burlington included. Those of us who thought we'd escape the heat wave by heading north were stunned by Thursday's 99 degree temperatures. No matter, though....we were in the air conditioned Sheraton until the evening's outdoor festivities. True to form, the Vermont breeze came up, the heat cooled down, and we were ready to rip for another run at the usual fantastic networking events each evening.

From an exhibitor's perspective, we couldn't be more pleased. Seventy of the best service providers in the business kept the exhibit hall a popular place from 8:00 in the morning until closing each business day. Our own experience was fantastic, and the feedback from other exhibitors was positive as well. Bob Graebner, SVP from CATEX, joined me in Booth #1. We were deluged with enthusiastic visitors -- captives and service providers alike -- who were anxious to register to access CATEX's reinsurance and broker markets directly from the icon at captive.com.

What about the educational seminars? Seminars spanned the gamut from introductory "how to.." and "when should I..." sessions to more advanced taxation, long range financial planning, and domicile updates. Our always-popular friend and Vermont regulator, Len Crouse, participated in a session entitled "Employee Benefits in Captives: Case Studies on How to Get Started and Realize Potential Now." Because employee benefits has been a hot topic in the niche, we heard more than a few superlatives about this session.

The Risk Managers' Roundtable (service providers unceremoniously ejected by the official VCIA bouncer!) provided a safe, comfortable place for risk managers to discuss challenges and issues of importance to themselves and their peers. Each year, this roundtable grows, approaching 30 risk managers this time around. Paul Buckley from Lucent, and Rick Cornelius from VHA Risk Retention Group facilitated the event.

Thursday's general session was special, and received rave reviews. VCIA put together a panel of elite risk managers with a long history in the industry who could sit together and talk about the present and the future. Cheri Hawkins from Weyerhauser moderated the session. Paul Buckley from Lucent, Jean Van Tol -- the current VCIA Board Chairman from Resort Hotels Insurance Company -- and Vermont's own Len Crouse made up the panel. A memorable moment arose when the panel shifted gears from today's issues to tomorrow's challenges. Highly unusual for captive conferences, gnomes appeared from places as yet undetermined, and distributed small, heavy boxes wrapped in gold foil to each participant. When participants were allowed to open the boxes, inside was a lead crystal ball that proclaimed, "VCIA 2001 -- 20 Years of Vision and Voice." Helplessly under Cheri's spell, the spellbound participants cradled the crystal in the palm of their hands and closed their eyes. Cheri chanted, "Inhale......exhale......wave your hand over the ball and look into the future." From there, the prognostications flowed -- some serious, others lighthearted. When Len Crouse was asked for his vision of the future, his tongue-in-cheek response was vintage Crouse: "75 years from now, Vermont will have 8,500 captives. Why, you ask? The effects of global warming have set in, and there are no island domiciles left. All are under water. No more Bermuda, Cayman, BVI, Isle of Man -- all gone. South Carolina is flooded out....all the golf courses on the entire coast are under water. Vermont's promotional materials now advertise Vermont as the highest domicile in the world -- the only one remaining." How good is that?!

Another session that received accolades was the seminar on Federal Taxes, which included a panel of experts from the IRS (Tim Collins), KPMG (Mark Anderson -- one of our favorite taxation experts), and Eldridge Law firm (Stephen Eldridge). As captive taxation issues continue to morph, taxation sessions are always important at each and every conference.

As captive conferences go, the VCIA event continues to be the big kahuna, this time boasting 841 attendees. Whether you're a captive owner, risk manager, service provider, or just considering a captive for your company, if you missed this event it's a pity. Be sure to budget now for next year's conference, which will take place on August 13-16 at the Sheraton Burlington.