SCOTTSDALE, ARIZ.--The Captive Insurance Companies Association (CICA) elected Mike Lusk, a pioneer in benefits captives, as board chairman during its 36th International Conference here.
Mr. Lusk, corporate vice president, Insurance and Global Risk Management for Archer Daniels Midland Company (ADM), headquartered in Decatur, Ill., was instrumental in spearheading the use of a captive operation to write employee benefits.
ADM in 2003 was the second employer approved for an employee benefits captive by the Department of Labor.
The ADM captive differed from the first benefits captive to win approval, Columbia Energy, because ADM proposed that its captive be used to reinsure life insurance benefits rather than the disability approved by the DOL for Columbia Energy (NU 3/17/03).
"Mike Lusk is highly regarded in the risk management community and especially well known for his innovative use of a captive insurance company at ADM to provide employee benefit coverage," commented Dennis Harwick, president of CICA.
Mr. Lusk, with 35 years of experience in the insurance and risk management industry, began his career by performing inspections and providing underwriting for high hazard plants in chemical and petrochemical industries. Before joining ADM in 1999, he worked with International Risk Management (Americas) Inc., a risk management consulting firm.
The CICA board also elected Claude Parenteau, president of Parenteau Associates, Easton, Conn., as vice chairman, and Karin Landry, managing partner of Spring Consulting Group, LLC, of Boston, Mass., as secretary-treasurer.
CICA is an international association for the captive insurance industry, founded in 1972 by professional risk managers. CICA represents hundreds of captive insurance companies, risk retention groups and related organizations from more than 30 jurisdictions throughout the world.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
