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Member, Beacon International Group, Ltd.
MINNEAPOLIS—The World Captive Forum will recognize Decatur, Ill.-based Archer Daniels Midland Co. with its Award of Excellence at its next conference.
Michael Lusk, vp insurance and risk management at ADM, will accept the award on behalf of the company on Jan. 31, 2012, during the 21st Annual World Captive Forum in Miami, the Minneapolis-based WCF announced Monday.
The award recognizes the parent of a single-owner captive and its representatives for thought leadership in the global use of a captive insurance company; contributions to the enterprise’s strategy, objectives and its businesses in the field; and contributions to the risk and insurance profession with regard to captive insurance.
Among other things, ADM in 2003 was one of the first U.S. companies to win approval to fund employee benefits through its captive, Agrinational Insurance Co.
The agricultural product processor also has used the captive to provide crop insurance for agricultural producers and to provide coverage for international operations in areas where local coverage options were considered inadequate.
Previous recipients of the award include Marias Falls Insurance Co. Ltd., formed in 1984 in Bermuda by DHL Worldwide Express, which Bonn, Germany-based Deutsche Post A.G. later acquired.
Additional information about the World Captive Forum is available at www.worldcaptiveforum.com.