ORLANDO, Fla.—The Captive Insurance Cos. Assn. will recognize the International Center for Captive Insurance Education and Verizon Communications Inc.’s Exchange Indemnity Co. captive with its Distinguished Service Award and Outstanding Captive Award, respectively, at the organization’s 2010 International Conference March 8 In Orlando, Fla.

Criteria for CICA’s Distinguished Service Award include contributing to the broader understanding of captives and assisting the growth and success of the captive industry. This year’s recipient, Burlington, Vt.-based ICCIE, is the first organization to receive the award.

Since it began operations in 2004 to build the capacity of the captive industry by providing comprehensive captive insurance education to industry professionals, ICCIE has granted 122 Associate in Captive Insurance designations.

CICA’s Outstanding Captive Award recognizes a captive or risk retention group that has demonstrated creative captive uses, prevailed in difficult times and earned a positive reputation among rating agencies, regulators and industry colleagues.

This year’s recipient, Exchange Indemnity Co., was formed in Vermont in 1995 by Verizon predecessor NYNEX and has grown to more than $1 billion in assets, underwriting more than 25 different programs and handling 16,000 claims annually.