captiveOn November 6th, Spring client, Intel Corp, received preliminary approval by the U.S. Department of Labor (DOL) to fund their employee benefits in their captive.

Intel was seeking to reinsure their life and accidental death and dismemberment coverage through their existing Hawaii-based captive.

More information about this development can be found in November 6th’s Federal Register in Application No. L-11760.

Securing this exemption from the DOL has been an exciting process for our captive consulting team. Funding a corporation’s benefit risks though a captive is a financial strategy that has become increasingly important for organizations facing accelerating benefits costs.

“We are all looking forward to continuing to work with Intel and make this historic project a model for future corporate benefit funding strategies,” said Karin Landry  who heads the Intel team at Spring.

Image credit: seier+seier via flickr

The following two tabs change content below.
Karin Landry
My LinkedIn profile

Karin Landry

Managing Partner at Spring Consulting Group, LLC
Karin Landry, ACI, CLTC, GBA is the Managing Partner for Spring Consulting Group. Karin has over 25 years of experience in the insurance, health care, risk financing, retirement and benefits industries. She is an internationally recognized leader in captive insurance strategy, benefits and financing. She is Past-Chairman of the Board of The Captive Insurance Company Association and a member of the ERISA Industry Committee and was recently appointed to the Board of Directors for Fallon Community Health Plan. She is also a Professor of Employee Benefits and member of the finance committee for the International Center of Captive Insurance Education part of the University of Vermont. Karin’s expertise around benefits allowed her to co-author a white paper for Business Insurance Magazine titled “Captives for Benefits: How to Use a Captive to Save Money and Enhance Benefits Coverage”, which is currently a top seller. Both Vermont and the US Virgin Islands asked Karin for input and guidance with their recent legislative changes. Prior to joining Spring, Karin was President of Watson Wyatt Insurance & Financial Services in the United States and Head of the Health & Welfare division for the eastern region.