"Captive Investments Panel"
This will be an interactive discussion panel where experts representing six different firms will discuss the outlook and prospects for Captive Investment Portfolios and reflect on key questions being asked by Captive Owners they work with.

Hugh Barit graduated from Hobart College, Geneva, New York with a Bachelor of Arts degree in Economics.  On January 1, 1984 he joined IBM as a Marketing Representative, responsible for marketing the company’s products to multi-national insurance companies.  He joined Performa Securities Limited, an investment management firm located in Bermuda, in June 1988 as Marketing Director, responsible for the management of the company’s captive insurance clients.

 In December 1992 he formed P.R.P. Performa Limited in Bermuda and is currently President and Chief Executive Officer.  P.R.P. Performa Limited is one of the largest non-bank financial services companies on the island, with its primary service being portfolio management for offshore insurance and reinsurance companies.

"Captive Investments Panel"


Hugh Barit

"Captive Investments Panel"


William Dalziel
Executive Director

William Dalziel joined London & Capital in March 2005 and heads the Captive practice for the firm. 
He has 29 years’ experience in the insurance industry, much of it in the international life and investments area, having worked for major British and international insurance groups. Latterly, he worked for Zurich Financial Services' International Life business as Director with responsibility for Latin America and Distribution Development. 
William is extensively involved in the Captive Insurance and Alternative Risk Transfer market. He is a leading spokesperson on the Captive investment market and his experience and informed outlook make him a regular in Captive publications and at industry events. He is a strong believer in building relationships with advisers, working in partnership with them to identify and provide the best solution for each client. 

"Captive Investments Panel"


J. Alan Day
TD Banknorth Wealth Management Group
Vice-President and Senior Portfolio Manager

J. Alan Day has been with TD Banknorth since October, 1983; serving a Chief Financial Officer of a subsidiary bank; Director of Investments for the holding company; Economist for the Wealth Management Group; and currently as a Senior Portfolio Manager in the Wealth Management Group.

Mr. Day has been part of the TD Banknorth Captive Management Team since 1994, specializing in captive insurance company investment portfolio management. He has participated in Vermont Captive Insurance Association annual conference seminars. Additionally, he has helped write with Tina Truax McCuin articles published in Captive Review. 

J. Alan Day is a graduate of The Ohio State University and Stonier Graduate School of Banking. Most recently he has completed five seminar courses sponsored by the International Center for Captive Insurance Education.

With over 21 years of asset management expertise, Steven J. Christensen has developed a team under Wachovia Securities that provides a select group of clients comprehensive and customized solutions to their asset management needs. This turn key approach combines a completely transparent open-architecture platform with both discretionary and client directed management solutions. 

Under the Wachovia Securities platform, a full array of offerings are made available to our clients including equity and fixed Income asset management strategies as well as alternative absolute return strategies involving structured products, hedge fund and private equity, as well as managed futures.

Steve holds the Series 7, Series 63, Series 65 registrations, Life and Health Insurance licenses, and is a member of the Wachovia Securities' Premier Advisors program. He also is a member of the 2009 FA Firm Advisory Council.

As the former captain of the Texas Christian University soccer team, Steve led his team to two consecutive Southwest Conference Championships. Although he has hung up his cleats, his passion for soccer continues. Steve, founder and board chair emeritus of Dallas SCORES, has helped grow Dallas SCORES from inception to an everyday after school literacy and athletic program that serves over 280 underprivileged Dallas children. He is also Treasurer of the Christensen Family Foundation that serves communities across the country. Steve resides in Dallas, with his wife Lauren, and daughter Ava.

"Captive Investments Panel"


Steven J. Christensen
Senior Vice President-Investment 
Officer PIM Portfolio Manager

Carl Terzer is a Principal of CapVisor Associates, LLC, a registered investment advisor specializing providing captive advisory services consisting of highly customized investment management programs. We bring more than 24 years of insurance asset management experience, over 10 of which have been focused on working with Captives, Self Insurers, RRG’s, etc., to the task of correlating clients’ investment strategy with their business objectives. CapVisor’s unique business model offers a menu of best-in-class investment management firms to clients rather than being “captive” to the product line of any single investment manager. Unbiased implementation and ongoing maintenance of the investment program are key attributes of the service.

Mr. Terzer is formerly the Director of the Insurance Advisory Group of Principal Global Investors where he was responsible for client development spanning US statutory insurers, as well as on- and off-shore captives. Previously, he was Senior Vice President and Marketing Director of the Insurance Asset Management Group of Brown Brothers Harriman & Co. His experience also includes expertise developed in various executive positions at Bankers Trust Company, Chase Manhattan Bank and Met Life, among others. Carl received a bachelor's degree in business administration and economics from Rutgers University and holds FINRA Series 7 and 66 designations.

Jonathan Arbeit is a Senior Associate in the Burlington, Vermont office of Johnson Lambert & Co. LLP. He is responsible for leading engagement fieldwork for numerous audit and tax clients. Jon’s clients include a variety of property-casualty insurers and reinsurers, captive insurers, risk retention groups, SEC registrants, risk pools and commercial entities. Jon also has experience issuing reports on the operating effectiveness of internal controls at service organizations pursuant to SAS 70.

Jon’s responsibilities include audit planning, substantive and analytical testing of accounts and internal control assessment and testing. Jon has significant experience and training in preparing property-casualty Federal tax returns. Additionally, Jon specializes in auditing complex investment portfolios and the valuation of alternative investments. Jon is a frequent speaker regarding audit issues, and presented at the USA Risk Executive Seminar in May of 2008. Jon is currently serving on the conference committee for the Vermont Captive Insurance Association’s 2009 conference. Jon is also involved in the training and mentoring of the Johnson Lambert staff.

Jon joined Johnson Lambert & Co. LLP in 2005 after completing the equivalent of a Master’s in Accountancy from the University of Vermont. Jon graduated from Dartmouth College in 2002 with a degree in Psychological and Brain Sciences. Jon is a member of the AICPA and the Vermont Captive Insurance Association. Jon is currently pursuing the Chartered Property & Casualty Underwriter (CPCU) designation offered by the Insurance Institute of America. 

"Audit Panel"
Michael Burdick Photo Placeholder

Michael Burdick, CPA, ACI, is a Manager in Johnson Lambert & Co. LLP’s Burlington, Vermont office. Michael is responsible for the administration and fieldwork for a wide-array of audit and tax clients. His experience auditing property and casualty insurance and reinsurance entities includes captive entities, risk retention groups, cell captives and large municipal risk pools, as well as other alternative risk entities. Michael actively participates in recruiting CPA candidates for the firm and has recently been instrumental in developing and implementing the firm’s mentoring program.

Michael has earned the designation of Associate in Captive Insurance, as offered by the International Center for Captive Insurance Education (ICCIE). Since earning the ACI designation, Michael has designed the curriculum for and taught two accounting course offerings for ICCIE. In the fall of 2008, Michael authored and facilitated an educational teleconference titled “How to Prepare Your Captive for an Audit”.

Michael joined Johnson Lambert & Co. LLP in 2004 after working several years at a publically-traded medical software company and Liberty Mutual Insurance Company. Michael graduated Summa Cum Laude from Champlain College in Burlington, Vermont. Michael is a member of the American Institute of Certified Public Accountants, Vermont Society of Certified Public Accountants and the Vermont Captive Insurance Association.

"Emerging Changes in Med Mal and Workers Compensation Claims Reporting"
Recent changes in reporting requirements for med mal and workers compensation claims are changing the way claims administration is being handled. Our speakers are subject matter experts in the areas of medical malpractice and workers compensation claims handling. They will address the changes and what they mean to risk retention group and captive insurance participants.

Tim Over is a career risk services professional with twenty-seven years of experience in safety engineering, business process outsourcing, and casualty claims, and marketing. At Sedgwick CMS, Mr. Over leads the largest professional liability health care TPA in the industry with over two hundred claims, legal, and clinical professionals. He is based in Chicago, IL, Prior to Sedgwick CMS, he held a dual appointment as executive vice president of the Complex Claims Division and as a vice president for national business development with Cambridge Integrated. 

Tim started his career with CIGNA and ESIS as a safety engineer an then claims account manager. Mr. Over graduated from Northern Illinois University with a BS and graduate from the University of Illinois at the Medical Center. He has held ARM, CIC, CSPSM, and CSP designations. 

"Claims Panel"


Tim C. Over
Director of Specialty Ops

"Claims Panel"

Darrell Brown
WC Practice Leader

Mr. Brown is a Vice President and the National Workers’ Compensation Practice Leader at Sedgwick Claims Management Service, Inc. (Sedgwick CMS) based in Long Beach, California. 
Mr. Brown has seventeen years of experience in claims management. He joined Sedgwick CMS in 2001 as an Assistant Claims Manager. Afterwards, he worked as an Operations Manager in our Orange office and also as an Area Manager for the Southern California Region. Prior to joining Sedgwick CMS, Darrell worked as a claims manager for a TPA specializing in public entities. Prior to that, he was a Supervisor and Claims Examiner for an insurance company.
Mr. Brown has been an instructor for the American Insurance Educational Association teaching workers’ compensation advance and workers’ compensation case law and labor code. He has a bachelor’s degree in finance from California State University at Northridge. Darrell also has a self-insurance license in California. He has also earned the Associate of Risk Management designation (ARM) through the AICPCU. 

"Hospitals, Doctors and Nursing Homes, don’t you see enough red in your regular working day… Why not improve your financial outlook with an ART mechanism that will help you see green?"
The insurance market goes up, the insurance market goes down, or in insurance terms, the market hardens, the market softens. Why is it that the hospitals, doctors and nursing homes can’t catch a break with their insurance products? This presentation will generate ideas on how captives can provide a tactical advantage no matter the economic or medical malpractice conditions. We will discuss captive structures, the Risk Retention Act and formation planning.

Joseph Schimenti is the President of Yellowstone Insurance Exchange, a Risk Retention Group. Yellowstone serves hospitals in Idaho, Montana, New Mexico and Wyoming. Joe has assisted in developing Risk Retention Groups and Captive programs in the United States.

His professional background includes expertise in insurance business development, including strategic planning, process analysis and implementation, new ventures, administration/operations, marketing, risk management and mergers and acquisitions.

"Reciprocal/Medical RRG Structures"

Joseph Schimenti
President of Yellowstone Insurance Exchange, a Risk Retention Group

"Reciprocal/Medical RRG Structures"

Jeff Kenneson 
Senior Vice President of Business Development, USA Risk Group, Inc. 

Jeff Kenneson joined USA Risk Group as Vice President of Business Development for the group in December 2004. In this position, his primary role is to develop new business opportunities for the group’s captive operations located in Vermont, South Carolina, Arizona, Bermuda, BVI, Cayman Islands and USVI. Jeff is also responsible for heading up the Burlington, Vermont office location. Jeff was promoted to Senior Vice President of Business Development in June 2006.

Kenneson has 17+ years of experience in the captive industry, most recently as Director of Captive Operations at Smith, Bell & Thompson. Kenneson has experience working for a large broker as well as a single parent captive insurance company. Kenneson has also been involved in the formation of numerous captives, ranging from single parent to risk retention groups and association captives. He is an active participant with the Vermont Captive Insurance Association and other industry associations. Kenneson is a Certified Public Accountant and also holds the ARM designation. He is a graduate of the University of Vermont with a degree in Business Administration.

"Don't Gamble With Your Captive's Taxation"
Once again the panelists will discuss the most recent activities of the IRS and their effect on the formation and operation of captive insurance companies. The panelists encourage active participation from the audience, so come prepared with your thought provoking questions.

Chaz is a Member of the Louisville, Kentucky practice of Greenebaum, Doll & McDonald, PLLC.

Chaz's area of concentration is federal income taxation. Chaz has more than 25 years of experience in income tax law. He is an accomplished attorney and a frequent speaker and presenter. Chaz is most often noted for his win of the famed Humana case.

Chaz is listed as one of “The Best Lawyers in America” Taxation and has been since 1993.

Chaz received his undergraduate degree from the University of Notre Dame and his law degree from University of Kentucky. He went on to receive his Masters of Law in Taxation from New York University.

"Tax/Cell Captives/Tax Structures"


Chaz Lavelle

"Tax/Cell Captives/Tax Structures"


Gary Bowers 
Tax Partner, Johnson Lambert & Co.

Gary Bowers is a Tax Partner in Johnson Lambert & Co.'s Raleigh, North Carolina office. He has overall responsibility for the firm's tax services.

Gary has extensive experience in corporate tax planning, corporate reorganizations, and negotiations with IRS Officials within the financial services sector. He proactively works with clients to understand their business, mission and goals in developing tax-planning strategies. Gary is experienced in the development of business solutions for corporate clients resulting in significant federal, state and local tax savings.

Before joining Johnson Lambert & Co. in 2001, Gary directed the Carolinas/Florida area financial services tax practice at Ernst & Young, LLP. He was a senior tax executive with experience in developing complex business solutions for corporate tax clients. Gary began his career at KPMG, LLP, in Atlanta, GA. After earning his B.B.A. degree at the University of Georgia, Gary attended Georgia State University where he earned the equivalent of a Masters in Taxation.

Gary and his family live in Cary, North Carolina. Gary enjoys golf and spending time with his family.

As a licensed CPA and member of AICPA, Doug joined CPC in 1984 and oversees all of CPC’s financial and tax matters and manages our multiple departments supporting these areas, including Accounting, Finance, Insurance Risk Mgmt, HR, Payroll & Invoice, IT and Medical Benefits.

"Tax/Cell Captives/Tax Structures"


Doug Crowell
VP and CFO
CPC Logistics Inc.

"Health Benefits in Captives"


Gregory P. Lang
Senior Vice President in the
Specialty Markets division of Munich Reinsurance America, Inc.

Greg Lang is a Senior Vice President in the Specialty Markets division of Munich Reinsurance America, Inc. based in Princeton, NJ. The Specialty Markets division works exclusively with alternative market clients and provides risk transfer, risk sharing and risk management solutions to organizations other than insurance companies that take a significant amount of underwriting risk.

In his current position, Greg is in charge of Business Development and Production Source Management and is responsible for working with all of the division’s client groups to establish new business relationships, as well as customer relationship management for selected source and service providers.

Prior to assuming his current role, Greg was a senior account executive with responsibilities for marketing, production, underwriting and account management. Before joining Munich Re America, he held positions at American International Group Inc., ATT Capital Corporation and Sedgwick James.

Greg has earned CPCU, ARM and AIAF designations. He is an Instructor with the International Center for Captive Insurance Education, teaching captive reinsurance in a course he co-developed, “Protecting the Captive: Predicting Risk, Reinsurance and other Transfer Mechanisms.” He is a regular contributor to Captive Review magazine and other trade publications, and frequently speaks at industry events on topics relevant to the alternative market.

Munich Reinsurance America is a subsidiary of Munich Re America Corporation which is a member of the Munich Re Group.

Gary Osborne is President of USA Risk Group. In this role he is responsible for developing innovative alternative and traditional risk strategies and programs for clients and prospects of USA Risk Group (USARG). Gary is also responsible for oversight of the captive and alternative market divisions of USA Risk Group. 

Gary has been working in the alternative market for twenty years, having held positions in Bermuda, Hawaii and Vermont. He has been involved in the establishment of numerous single parent captives, association captives, risk retention groups and traditional group insurance programs. He has spoken at the CPCU annual meeting, RIMS, the American Society of Association Executives conference, the Hawaii , Vermont, CICA, IBC and South Carolina Captive Conferences. He has served as treasurer of the Hawaii Captive Insurance Council and as the Chairman of the Legislative Committee of the Vermont Captive Insurance Association. He currently serves as a director of the NRRA where he is also the chairman of the membership committee. He is also a faculty member for the International Center for Captive Education.

Gary joined USA Risk Group in October 1995 as head of the company’s Hawaii operations and relocated back to Vermont in November 1996, where he was promoted to Senior Vice President of USA Risk Group. Gary was promoted to President of USA Risk Group in July 2004. From February 1994 to October, 1995, Gary was Vice President of Sedgwick Management Services (U.S.) Limited in Hawaii. During this time, Gary was responsible for the Hawaiian domiciled captives of Sedgwick Management Services (U.S.) Limited.

In October 1985, Gary joined Price Waterhouse in Bermuda and worked on the audits of a number of captive insurance companies. He moved to Marsh & McLennan (Bermuda) in June 1987 as an Account Manager and relocated to Vermont in December 1989 where he accepted a position with Johnson & Higgins Services as an Account Manager. He was promoted to Assistant Vice President and Senior Account Manager in March 1991. As an Account Manager, he was responsible for providing accounting and reporting services for a variety of captive and other non-traditional insurance companies.

A native of Glasgow, Scotland, Mr. Osborne attended the University of Glasgow, receiving his Bachelor of Accounting in 1982. He qualified as a Member of the Scottish Institute of Chartered Accountants in 1985 and received the Association of Risk Management designation in 1996.

"Health Benefits in Captives"


Gary Osborne
President, USA Risk Group, Inc. 

"Health Benefits in Captives"


Robert Schmid
Vice President and Chief Operating Officer of EIS

Robert Schmid was born and raised in Bartlesville Oklahoma, received a BS Degree from Oklahoma State University and an MBA from the University of North Texas.

Prior to joining Energy Insurance Mutual Ltd., Robert served in senior management positions for a division of TRW, Oklahoma Gas and Electric and a large private equity firm in Oklahoma City.

While at OG+E he helped organize one of the larger programs in Energy Insurance Bermuda. The program provides policyholders access to Stop Loss Retiree Medical coverage that allows members to efficiently prefund retiree medical liabilities.

He joined EIM in May of 06 to assist in the Redomestication of EIB and to help grow Energy Insurance Services once it was relocated in the US. He is the current Vice President and Chief Operating Officer of EIS, a Director on the Board of the South Carolina Captive Insurance Association, ICCIE Graduate and holds a Senior Professional designation from the Society of Human Resources Professionals.

Robert and his wife Mary now reside in Greenville South Carolina, the new home of Energy Insurance Services. 

"Captive Jeopardy"


Gary Osborne
President, USA Risk Group, Inc. 

Gary Osborne is President of USA Risk Group. In this role he is responsible for developing innovative alternative and traditional risk strategies and programs for clients and prospects of USA Risk Group (USARG). Gary is also responsible for oversight of the captive and alternative market divisions of USA Risk Group. 

Gary has been working in the alternative market for twenty years, having held positions in Bermuda, Hawaii and Vermont. He has been involved in the establishment of numerous single parent captives, association captives, risk retention groups and traditional group insurance programs. He has spoken at the CPCU annual meeting, RIMS, the American Society of Association Executives conference, the Hawaii , Vermont, CICA, IBC and South Carolina Captive Conferences. He has served as treasurer of the Hawaii Captive Insurance Council and as the Chairman of the Legislative Committee of the Vermont Captive Insurance Association. He currently serves as a director of the NRRA where he is also the chairman of the membership committee. He is also a faculty member for the International Center for Captive Education.

Gary joined USA Risk Group in October 1995 as head of the company’s Hawaii operations and relocated back to Vermont in November 1996, where he was promoted to Senior Vice President of USA Risk Group. Gary was promoted to President of USA Risk Group in July 2004. From February 1994 to October, 1995, Gary was Vice President of Sedgwick Management Services (U.S.) Limited in Hawaii. During this time, Gary was responsible for the Hawaiian domiciled captives of Sedgwick Management Services (U.S.) Limited.

In October 1985, Gary joined Price Waterhouse in Bermuda and worked on the audits of a number of captive insurance companies. He moved to Marsh & McLennan (Bermuda) in June 1987 as an Account Manager and relocated to Vermont in December 1989 where he accepted a position with Johnson & Higgins Services as an Account Manager. He was promoted to Assistant Vice President and Senior Account Manager in March 1991. As an Account Manager, he was responsible for providing accounting and reporting services for a variety of captive and other non-traditional insurance companies.

A native of Glasgow, Scotland, Mr. Osborne attended the University of Glasgow, receiving his Bachelor of Accounting in 1982. He qualified as a Member of the Scottish Institute of Chartered Accountants in 1985 and received the Association of Risk Management designation in 1996.