We are incredibly excited to announce that the Spring team had a great night this past Monday at the Captive Review awards reception in Burlington, Vermont.
Spring took home the award for Employee Benefits Specialist of the year, and our Senior Consultant, Prabal Lakhanpal, won the Emerging Talent award for service professionals.
Our team works tirelessly day in and day out to deliver the best, research-driven and innovative service to our clients, with the goal of always producing tangible results. All of our staff is encouraged to participate in educational and industry related events and organizations so they can continue to build their skills and knowledge, and Prabal is a prime example of this development and growth. Always at the forefront of employee benefits and how they intersect with captives, we are constantly thinking outside-the-box to help clients fund competitive benefits packages that makes sense for their organization, its culture and its risk profile. This has been a particularly strong year for us, and we thank Captive Review for the recognition.
As a long-time sponsor and advocate for the Disability Management Employer Coalition (DMEC), Spring is excited to continue our involvement in this year’s annual conference.
The event, which takes place from August 5-8 in Washington, D.C., will bring together around 500 professionals in HR, Benefits, Disability and Absence Management fields, and is sure to be a thought-provoking and fun few days. This year, Spring team members will be featured a few times on the conference agenda:
- Launching Your Organization’s Self-Audit Checklist: Tuesday, August 6th, 3:35PM
Senior Vice President Teri Weber will be running this short quick-dive session, which will guide audience members on effectively conducting an internal compliance audit.
- The RFP Process: A Deep Dive: Wednesday, August 7th, 2:30PM
Teri Weber and Senior Vice President Karen English will be joined by clients on this panel that outlines the who, what, and the how of conducting an RFP. Best practices and case studies will be shared.
- Got ROI?: Thursday, August 8th, 9:30AM
In this general session, Karen, Teri and Disability Management professionals from Baystate Health Systems and Chevron will speak to how to determine if an absence management program is producing ROI. The audience will be left with a framework to overcome common challenges and learn from the success of large employers.
So, if you are heading to the DMEC Annual Conference, be sure to catch us at one (or all!) of these sessions, and say hello to our team at booth #312. We promise good conversation and fun giveaways!
Our team has long been involved with the Vermont Captive Insurance Association (VCIA), an organization that has done much to advance the captive industry in one of the country’s strongest captive domiciles. The VCIA Annual Conference is a hot event in this sphere, bringing over 800 professionals together each year in Burlington, Vermont to share their experience and learn from each other.
This year, not only is Spring an exhibiting sponsor at VCIA, but our Managing Partner, Karin Landry, will also be leading a session, Association Health Plans & Captives: New Regulations, New Opportunities. This advanced session will feature a panel and will cover why Association Health Plans (AHPs) came to be, the shifting regulatory landscape around them, where that leaves us today, and an employer case study that ties in captives. The session will represent multiple perspectives: the consultant, the attorney, and the insurer.
The presentation will take place on Wednesday, August 7th from 10-11AM. We hope you can join, but if not, be sure to say hello to our team at booth 44 at VCIA!
We are thrilled to announce that our Senior Consulting Actuary, Peter Johnson, FCAS, MAAA has been named a 2019 Break Out Award Winner by Business Insurance. Peter leads our property & casualty team and works on a range of client projects as well as regulatory initiatives. He has almost 15 years of experience in reserving, pricing, alternative risk transfer and reinsurance risk transfer work.
Peter is responsible for product and service development of P&C actuarial services for both large and small captive insurance companies, self-insured entities, and traditional insurance companies. These services include:
- issuing statements of actuarial opinions
- annual (or more frequent) reserve reviews
- captive application reviews
- captive feasibility studies
- pricing/funding studies
- retention analyses
- financial statement projections
- risk transfer testing analyses
Peter was born and raised in Wisconsin. He is a fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries. You can learn more about him here.
We have been happy to have him on our team for about two years now and are so proud of this well-deserved recognition!
Cell captives can help companies achieve a range of goals, and their use cases and utilization rates have been increasing in recent years. While more companies are adopting a cell captive structure, that doesn’t make them any less complicated. Accounting guidance and other regulatory factors often prohibit organizations from aligning the financial reporting of their cell captive with the corporate objectives of the entity.
In this whitepaper, co-authored by Karin Landry, Managing Partner of Spring and Josh Partlow, Partner at Johnson Lambert, will walk you through the evolution of cell captive structures, and provide guidance on financial reporting options and how to address GAAP guidance.
Download the white paper to get a brief history of cell captives, understand the different structures available, insight into the decision to consolidate or not, how variable interest entities come into play and more. We’ll use a sample balance sheet to illustrate these concepts.
This year the annual Risk Management Society (RIMS) conference is in our neck of the woods, which is very exciting! We are looking forward to playing host and showing colleagues and clients around town.
RIMS is one of the most renowned events in the risk management and insurance spaces, for which we have been proud sponsors and participants for over a decade. This year, we are delighted to not only be a sponsoring exhibitor, but to be speaking as well. Spring’s Senior Actuarial Consultant and Property & Casualty Practice Lead, Peter Johnson, will be leading a session, “IBNR: Your View Versus the Actuary’s” on Tuesday, April 30th from 1:30-2:30PM. He will be joined by Lynn Tenerowicz, Vice President and Chief Risk Officer at Baystate Health. The pair will be doing a deep dive on Incurred But Not Reported (IBNR) claims, covering:
- Term definition
- The differences between your view as the employer and an actuary’s on reporting and calculations
- Different reserving methods and their pros and cons
- IBNR industry trends and benchmarks across different coverage and benefit lines
- Loss development methods
- The effects of claim frequency and severity
- The impact of IBNR on a company’s financials
The presentation will include a case study and plenty of graphics to help paint the picture for you. This session is great for risk and claims managers of all industries, or anyone simply looking to learn more about financials.
We hope you can make it! But if you can’t, please be sure to stop by booth 579 to chat with our team throughout the 3-day event.
We are proud and excited to announce that our Managing Partner, Karin Landry, has been named to the Captive Review Power 50 list for 2018, a recognition she’s received for the past several years. This year, she comes in at #10 and is alongside impressive company.
In a male-dominated industry, Karin has worked hard to make a name for herself and is a known thought leader in the captive space. She holds eight patents in insurance and is an expert in things like employee benefits captive, multinational pooling, medical stop-loss and health plans of all kinds. Karin works with large, global corporations of varying industries and types, and delivers tailored solutions based on their needs. As a means to grow the profession and prepare the next generation of captive experts, she also teaches a course at the International Center for Captive Insurance Education (ICCIE).
She is not only an industry leader, speaking at conferences such as the World Captive Forum, CICA and VCIA regularly, but she also runs the ship here at Spring, and we are glad to have her.
We are thrilled to announce that our Senior Vice President and Consultant, Karen English, has been named a 2019 Workers’ Compensation Power Broker by Risk & Insurance.
Karen is no stranger to this accolade, having been named a Power Broker several times in the past. However, the past year has been especially busy and successful for Karen, who continues to aid large, global employers with their workers’ compensation and other absence-related challenges, such as FMLA and disability. Not only does she lead projects hands-on, but she bolsters Spring’s industry expertise with her market research and survey team. She specializes in leveraging data to improve processes, and delivers a tailored solution for each individual client. Karen was one of the founding partners of Spring back in 2004, and has been the forefront of the company’s growth and high performance.
Karen is in good company on this impressive list, alongside leaders from fellow Alera Group firm, Orion Risk Management, Aon, Marsh and others. We are proud to have her on our team and look forward to her contributing to Spring’s continued success in the coming years.