CHICAGO — The National Risk Retention Association has honored the late Ed Meehan, Vermont's first full-time director of captive insurance, with the Karen Cutts Visionary Award at its conference in Chicago on Wednesday.
Named for Karen Cutts, the late founder of the Risk Retention Reporter, the award is given annually to someone who has greatly contributed to the risk retention group and purchasing group liability insurance industry.
“Ed would be truly honored to accept the Karen Cutts Award,” said Leonard D. Crouse, Burlington, Vermont-based partner of JLT Towner Management Group L.L.C.'s U.S. operations and former deputy commissioner of captive insurance in the Vermont Department of Banking, Insurance, Securities and Health Care Administration.
Mr. Crouse, who received the award in 2011, said he first met Mr. Meehan in 1970.
“Ed and Karen were good friends,” he said. “They worked hard together on risk retention issues. They fought the (National Association of Insurance Commissioners) and all the good battles. … Karen and Ed were pioneers in this business. The work they did in the beginning shows today.”
Mike Meehan, a consultant at Milliman in Wakefield, Massachusetts, accepted the award on his father's behalf. He said his dad would be honored and humbled.
BURLINGTON, Vt. — The president of the Vermont Captive Insurance Association is “cautiously optimistic” about the chances for bills in Congress aimed at clarifying the federal Non-Admitted Reinsurance Reform Act as it relates to captive insurance.