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Annual Executive Educational Conference of the South Carolina Captive Insurance
Association (SCCIA) was held September 13-15 at the historic Mills House and
Hibernian Hall in downtown Charleston. There
were over 200 attendees, including leading captive service providers, owners and regulators from several states. Tropical Storm Julia dropped several inches
of rain on Charleston on Wednesday, flooding several streets, but the
conference was unaffected.
As always, the
educational sessions were informative and covered a wide range of topics, updating
everyone on legislation, taxation and the latest trends in captives. During Wednesday morning’s opening sessions,
the South Carolina Department of Insurance recognized Velocity Insurance
Company, a Risk Retention Group (RRG) owned by various subsidiaries of
Roadrunner Transportation Systems, for receiving the 300th license
in May 2016. Since then, South Carolina’s
captive market has continued to grow and as of the conference had issued 304
licenses, with more expected by year’s end. It was also announced that the Friendly Society Restored (FSR) has
become part of the SCCIA. The FSR will
serve as the SCCIA’s educational arm and continue to hold monthly networking
breakfasts and other events in Charleston.
There were two special
presentations this year. The keynote was
given by Richard “Pitch” Picciotto.
Picciotto, a Fire Department of New York (FDNY) Battalion Chief, was a
veteran of the 1993 World Trade Center bombing who again rushed there in 2001
to rescue those trapped inside during the September 11th terrorist
attacks. The closing speaker was Dave
Sanderson, the last passenger to be rescued from US Airways Flight 1549 after
it landed in the Hudson River on January 15, 2009. Both men gave riveting first-hand accounts of
their harrowing experiences.
from the 2016 SCCIA Conference can be found here.
Upcoming SCCIA events include a road show to be held at the River Club in
Jacksonville, FL on October 18 and the FSR breakfast in Charleston, SC on
Legaré Gresham, FCAS, MAAA, is a Consulting Actuary with Pinnacle Actuarial Resources, Inc. and has over ten years of experience in the property/casualty industry. She has
worked extensively with traditional insurers, captive insurers and
self-insureds, including public entities. Her expertise includes loss
reserving, pricing and product management, Proforma financial modeling and
regulatory support. Legaré is a Fellow of the Casualty Actuarial Society and a
Member of the American Academy of Actuaries.
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