VCIA Report Documents Organization's Efforts on Behalf of Captives

The Vermont Captive Insurance Association (VCIA) had 404 member companies in 2022, of which more than 67 percent are captive insurance owners, according to the VCIA's 2022 Impact Report.

VCIA members came from 41 states, according to the report, with the association's membership growing by 7 percent last year.

Among other things, the report stressed the VCIA's role as a legislative advocate for the captive insurance industry, noting that the organization has invested approximately $1,869,744 on legislative advocacy, initiatives, and support on behalf of the captive industry since 2004.

"VCIA is the only captive association doing year-round captive federal and state legislative advocacy work to keep the industry strong," the report said.

According to the report, the various events the VCIA presented in 2022 drew more than 1,900 participants. That number included 986 attendees at the VCIA's 2022 annual conference, of which 25 percent were captive owners.

"I think of our organization as a grassroots operation because so many people contribute to making us a successful and necessary entity in the captive world," Kevin Mead, the VCIA's president, said in the report. "From the panoramic view, the VCIA board is the most engaging and invested group of board members I've been a part of, and this is largely due to the collaborative and inclusive attitude that they have toward VCIA staff."

Tracy Hassett, the VCIA's board chair, offered a similar view in her message in the report.

"Camaraderie and solidarity immediately come to mind when I think of VCIA," Ms. Hassett said. "Overall, VCIA board and staff are in lockstep when it comes to how we can provide more value to our members—we will never rest in this! This year's Impact Report illustrates how far our association has come and how much further we can go."