Annual Conference Session Details

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07. Discussion Group: US Regulatory Realm (NO CREDIT)

Date: 2021-08-10T00:00:00-04:00 Time: 11:45 am-12:35 pm

Coordinator: Aaron P. Cuillo, Marsh Captive Solutions
Content Advisor: Derick White, Strategic Risk Solutions
Facilitators: Sandy Bigglestone, Vermont Department of Financial Regulation and Zaw Win, Downs Rachlin Martin

Looking for a US Regulatory discussion outside of the "Hot Topics" session? This interactive discussion will give insight into what the NAIC is working on and its impacts on captives along with discussing other state regulatory impacts.

Join us for a dynamic opportunity to alter our lens of the industry by looking at it from a state regulatory view, allowing the group to discuss and consider a more uniform approach to working through key items as a collective unit. The NAIC risk retention working group state registration efforts, emerging state taxation considerations, layers of consideration with various state requests once registered in a given territory, and varying interpretations of captive uses for coverages are among the key areas we will explore. Questions to consider in advance of the session, to foster discussion, are:
     - What state regulatory impacts are significant to your captive operations?
     - Where are there opportunities for the industry to pull together to create commonality in practices and approaches to various non-domiciliary asks?
     - What type of changes in state regulations could improve the breadth of coverages your captive program can offer?

Scheduled Speakers:

Sandra A. Bigglestone, APIR, CPA

As Director of Captive Insurance, Sandy manages Vermont’s captive regulatory operations, licensing and monitoring the financial condition of captive insurers domiciled in Vermont. With 24 years of experience, Sandy serves as a principal staff member to the Deputy Commissioner of Captive Insurance. Sandy is a Certified Public Accountant, Certified Financial Examiner, a Certified Public Manager with the State of Vermont, and earned an Associate Professional in Insurance Regulation designation from the National Association of Insurance Commissioners. In 2018, Sandy was a recipient of the Women to Watch Award for her leadership, expertise, and accomplishments in the captive insurance industry. Presented by Business Insurance, Sandy is the first Vermonter and only insurance regulator to have received this prestigious award. The 2020 Captive Review Power 50, which recognizes the most influential professionals in the global captive insurance industry, named Sandy at #17.

J. Zaw Win

A director in DRM’s Business Law and Captive Insurance groups, Zaw Win has a diverse practice with a focus on advising captive insurance companies and risk retention groups on matters related to organization, licensing, governance and operations. He also helps advise clients on general corporate and commercial issues, including transactional matters, corporate governance, and restructurings. Prior to joining DRM, Zaw spent 6 years as an associate in the New York office of Weil Gotshal & Manges LLP.