Sunday, April 21, 2024

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Skip Myers receives CICA Distinguished Service Award

Captive legal legend Robert ‘Skip’ Myers has been awarded the CICA 2024 Distinguished Service Award by the Captive Insurance Companies Association at its International Conference in Scottsdale, Arizona.

Myers has been heavily involved in the United States captive market for more than 40 years, and played a key role in developments such as the Liability Risk Retention Act and Terrorism Risk Insurance Act.

As senior counsel at Morris, Manning & Martin LLP, where he has worked for 30 years, he has worked closely with the captive industry and captive owners on regulatory legal matters.

Accepting the award, Myers said: “Looking at this large crowd, it takes me back to a time when captives were only a tiny part of the property and casualty insurance business.”

He discussed the introduction of Vermont’s captive law in the early 1980s when the vast majority of captives were domiciled offshore.

Myers reflected on the battle between Vermont and the National Association of Insurance Commissioners (NAIC), which was sceptical of captives and threatened with the fast growing captive domicile with being disaccredited from the NAIC.

Vermont, thankfully for the captive industry, won that battle and the US domestic captive market has grown and the number of domiciles proliferated ever since.

Myers has sat on various captive association boards, including CICA, the National Risk Retention Association (NRRA) and ICCIE.