SCOTTSDALE, Ariz. — A longtime risk management professional and a captive owned by a Midwestern tool manufacturer were recognized as outstanding performers during the Captive Insurance Companies Association's 2014 International Conference being held this week in Scottsdale, Ariz.
Mike Lusk, vice president of insurance and risk management at Decatur, Ill.-based Archer Daniels Midland Co. and president of ADM's Vermont-based captive, Agrinational Insurance Co., received the Distinguished Service Award during CICA's opening session on Monday. The award was created in 2005 to recognize an individual or entity that has made a significant contribution to the captive insurance industry.
A 40-year veteran of the insurance industry, Mr. Lusk has served as chairman of the board of directors for both the Vermont Captive Insurance Association and CICA.
“Within the captive industry, Mike has been invaluable,” said CICA President Dennis Harwick in presenting the award to Mr. Lusk. “Mike is one of those go-to good guys of the captive insurance industry whose long history includes working for International Risk Management for 25 years where he worked with the pioneers of this industry.”
“International Risk Management was the captive management firm founded by Fred Reiss, commonly known as the 'Father of Captive Insurance', so Mr. Lusk's connections with the industry run deep,” Mr. Hartwick added.
Bermuda-domiciled Snap-on SecureCorp Global Cos. received the outstanding captive award, which was created by the CICA board of directors to a captive insurer or risk retention group that has shown creative uses for a captive.
Snap-on SecureCorp provides insurance and benefit products to Snap-on's franchisees throughout the world, including all 50 states, Canada, Australia, the United Kingdom and Europe, so that those franchisees can concentrate on their core business of selling tools and solutions, said CICA Chair Tomas Wittbjer, global head of insurance at Luxembourg-based IKANO S.A., during Monday's opening session.
The CICA 2014 International Conference attracted more than 560 attendees and 49 exhibitors, the most in the organization's 42-year history and approximately 100 more than last year, according to CICA conference organizers.