WRCIC 2025 Spotlights Captive Innovation, Risks, and Resilience

Editor's Note: In anticipation of the upcoming Western Region Captive Insurance Conference (WRCIC), we spoke with conference Chair Renea Louie about emerging industry trends, critical insights, and what attendees can look forward to at this year's event. Ms. Louie shares her unique perspectives drawn from extensive industry experience, highlighting key themes and offering a glimpse into the discussions shaping captive insurance in 2025 and beyond.

As chair of the Western Region Captive Insurance Conference, what makes this year's event uniquely valuable or timely for captive professionals nationwide?

This year's event, set for May 19–21, 2025, in Salt Lake City, is uniquely valuable and timely for captive professionals nationwide due to its focus on the evolving landscape of the industry. The theme, "Spirit of the West: Pioneering the Future of Captives," reflects a forward-looking approach in the West for captive owners, service providers, and those considering a captive—addressing the challenges and opportunities that are top of mind today, including emerging risks, coverage affordability, and navigating increased regulatory scrutiny.

What sets this conference apart is the very special event we have each year with four commissioners of insurance attending and sharing everything on their minds—captives, the National Association of Insurance Commissioners (NAIC), and more. This particular session only happens at WRCIC and is always riveting.

It's also the Regulator Roundup, where we feature not only regulators from the region but also from leading domiciles across the country—who all look forward to this one-of-a-kind session. It enhances regional collaboration by bringing together expertise from Arizona, Missouri, Nevada, Tennessee, Oklahoma, Michigan, Utah, and more, while remaining highly relevant to professionals nationwide.

The agenda is packed with practical insights—from innovative uses of captives to tackle rising deductibles, to sessions on accounting, tax considerations, and regulatory updates. Plus, the networking opportunities are exceptional—think golf tournaments, receptions, and this year's spectacular Salt Lake Bees game at their brand-new stadium, The Ballpark at America First Square, in the private party zone. It's an event not to be missed—baseball, hot dogs, and quality time with colleagues, employees, clients, regulators, captive owners, and service providers who are shaping the future of the industry.

With the captive insurance space continuing to grow and adapt to new economic and risk realities, this event's timing couldn't be better. It's a chance to get ahead of the curve, share ideas, and build strategies with some of the brightest minds in the field. Everyone gathers here—in a setting designed to spark real collaboration and innovation. Several states are modernizing their laws and regulations, and this is the place to hear focused discussions on those changes as well.

Looking at the conference agenda, what session or topic are you personally most excited about—and why should attendees not miss it?

Why am I stoked about this? The captive insurance world is at a fascinating crossroads in 2025. With risks like cyber attacks, climate shifts, and supply chain disruptions evolving faster than traditional insurance can keep up, captives are stepping up as a flexible, forward-thinking solution.

Sessions that explore how captives address emerging risks or help manage skyrocketing deductibles are pure gold. It's not just theory—these are real strategies companies can apply to stay ahead, especially in today's tightening regulatory environment. Attendees shouldn't miss these sessions—this is where the rubber meets the road. You'll hear from captive owners, regulators, and leading service providers sharing what's working right now.

We even have a session called "TOP GUN" that features some spicy, high-energy risk management videos. With a call for presentations that emphasized diverse panels and practical insights (no sales pitches allowed!), the agenda promises unfiltered, actionable takeaways.

Whether you're a seasoned captive pro or just exploring the space, this could change the way you think about risk management. And with a room full of industry heavyweights, the networking alone could spark your next big move. Be there.

Can you share an impactful conversation or insight from a past Western Region Captive Insurance Conference that changed how you view the captive industry?

That is a wonderful question and brings back so many fond memories. I've attended every Western Region Captive Insurance Conference since the very first one in 2008. One of the most powerful moments came post-COVID, when WRCIC became the first captive conference to return to the national stage. That year, "The Power 200" was born—200 leaders who traveled, took risks together, gathered in person, and celebrated not just our industry, but each other. We honored our heritage, looked ahead to the future, and shared a bond forged in resilience and mutual support. You can't get that from an online conference. It was priceless, and none of us will ever forget what we learned and experienced together.

Another unforgettable memory came during last year's event in Tulsa, where we had one of the most moving evenings I've experienced at any conference. The entire industry came together like family at the Philbrook Art Museum and gardens for a special cultural performance led by Osage Native American artist Yancy Red Corn, known for his work in the 2023 Emmy-nominated film Killers of the Flower Moon. Through music, dance, and shared respect for our nation's history, we learned so much about each other and deepened our understanding of the industry—outside of the classroom setting.

In the classroom, one recurring theme at WRCIC is the focus on emerging risks and innovative uses of captives. At the 2024 conference in Tulsa, for example, a session titled "New and Emerging Uses of Captive Insurance Companies" explored how captives are being adapted to address nontraditional exposures like cyber security and cannabis-related risks. Importantly, regulators were part of that conversation, underscoring how collaboration can drive solutions. The session showcased real-world examples where companies used captives to manage risks the commercial market couldn't adequately cover—proving that captives are far more than just cost-saving tools. They're strategic assets that enable forward-looking risk management in uncharted territory.

Conversations like these can fundamentally change how someone sees the captive industry—shifting the perception from a static, niche solution to a dynamic, evolving approach that empowers organizations to take control of their risk profiles. Captives offer a proactive, not reactive, strategy to meet today's most pressing challenges.

From your perspective, what's one emerging risk or trend being highlighted at this year's conference that the entire captive industry should be watching closely?

Climate risk is increasingly front and center due to its dual nature: it's both a physical threat—think wildfires, floods, and hailstorms impacting property—and a financial one, with rising coverage costs, regulatory pressures, and market volatility. Its growing relevance makes it a key focus.

Why should the industry care? Because captive insurers are uniquely positioned to address climate challenges where traditional insurance often falls short. Commercial markets are pulling back from high-risk areas—like coastal zones and wildfire-prone regions—creating coverage gaps that captives can fill. Companies are leveraging captives to self-insure against secondary perils such as hail and drought, or to fund parametric policies that trigger payouts based on weather events, bypassing traditional claims delays. Captives also offer the advantage of banking surplus over time to respond to unpredictable spikes in climate-related losses—something rigid annual policies simply can't do.

But this trend isn't just about physical threats. There's a regulatory dimension too—states like Utah and Nevada, both part of WRCIC's footprint, are facing increasing pressure to align with broader ESG (environmental, social, governance) goals. That's leading some captives to fund resilience projects or support green initiatives.

And don't overlook the data angle—captives are now using advanced analytics to model climate risk scenarios, helping owners refine pricing and strengthen mitigation strategies.

This matters across the entire industry because climate risk isn't a regional concern—it's a global shift. If captives can figure out how to manage this evolving threat, they'll further cement their role as innovators—not just cost-saving vehicles. Keep an eye on the WRCIC sessions that explore these topics. Some call it the "Wild Wild West"—and when it comes to climate, it certainly is wild and devastating.

If attendees could leave the Western Region Captive Insurance Conference remembering only one key takeaway, what would you want it to be?

If attendees could leave the 2025 Western Region Captive Insurance Conference with just one key takeaway, I'd want it to be this: Captive insurance is a powerful, adaptable tool that empowers organizations to take control of their risk management—providing both financial flexibility and strategic resilience in an ever-changing landscape.

The conference, themed "Spirit of the West: Pioneering the Future of Captives," is designed to spotlight how captives can effectively respond to emerging risks, rising costs, and shifting regulatory demands—making that message central to the entire experience.

And beyond the educational sessions, the networking is truly inclusive. Attendees have the chance to spend quality time with the people they want to do business with and walk away with new opportunities, new business, new tools, and fresh ideas.

How do you hope this year's conference discussions might influence or inspire captive industry professionals in their strategic planning or decision-making going forward?

We hope the discussions at this year's Western Region Captive Insurance Conference spark a forward-thinking mindset among captive industry professionals—encouraging them to view captives not just as reactive tools but as proactive cornerstones of strategic planning.

The conference will explore cutting-edge topics, from affordability solutions to navigating ongoing regulatory evolution. My hope is that these conversations inspire attendees to rethink risk allocation, embrace innovative coverage designs, and apply data-driven insights to strengthen their programs.

Ideally, they'll leave feeling motivated to integrate captives more deeply into long-term decision-making—balancing cost efficiency with resilience and even challenging outdated assumptions within their organizations. It's about planting the seeds for bold, practical moves that keep captives thriving in today's unpredictable environment.

What's something surprising or unexpected you predict attendees might learn at this year's Western Region Captive Insurance Conference?

Some of the most surprising takeaways from the 2025 conference will likely come from our four commissioners—sharing insights and innovations that are sure to make attendees pause and rethink what's possible. Expect a powerful discussion around the untapped potential of captives to address hyper-specific, niche risks that traditional insurance often overlooks—like supply chain disruptions tied to geopolitical tensions or the financial ripple effects of artificial intelligence-driven workforce shifts.

With this year's "Spirit of the West" theme, the conference will showcase how forward-thinking organizations are already leveraging captives to manage these evolving exposures—blending creativity with data to stay ahead. In the hot topics session, attendees will discover just how flexible and future-ready captives have become—and many will realize they've been underutilizing a tool with far more potential than they imagined.

And one thing is certain: you'll leave with more contacts, new friends, and trusted relationships to carry forward in your career. At WRCIC, no one is left behind.

(Photo of Ms. Louie, above, courtesy of WRCIC.)