Vermont’s Captive Industry: The Best Career Path You’ve Probably Never Heard Of
White Paper Summary
When it comes to attracting and retaining talent, leaders of the Captive Insurance Industry in the State of Vermont think they have a great story to tell. After all, what’s not to like about an industry where the average salary is $91,000 per year, job stability is substantial, you get to interact with business leaders across a wide spectrum of industries, and you’re mere minutes from great hiking, fresh farm food, and snowboarding, no matter what doorway you walk out of.
Be that as it may be, present realities are that finding qualified people to take existing positions is a struggle across the U.S. economy. And insurance, specifically captive insurance, is no exception.
Brittany Nevins, the captive insurance economic development director for the State of Vermont, is convinced though, that it’s just a matter of getting the word out to the right people, and Vermont will never lack for captive insurance talent.
Risk & Insurance conducted a webinar with Nevins and service providers in the Vermont Captive Industry. This article is based on that conversation, which you can find here.
A captive, for those who don’t know, in a nutshell is when a company creates its own insurance company for its own risk. Instead of paying insurance premiums to commercial insurers, companies pay those premiums into their own “captive,” manage their own risks and pay their own claims. Better control over their own program and the opportunity to realize investment returns on premiums paid in are just a couple of the business advantages of owning a captive.
To learn more about State of Vermont, please visit their website.