Saint Mary’s University seniors Olivia Faulkner and Zane Smith received first-place honours and a US $2,500 prize in the 2022-2023 Captive Insurance Companies Association (CICA) college student essay contest.
The captive insurance solutions for risk management contest — for college insurance and risk management students — is sponsored by Hylant Global Captive Solutions (Hylant GCS).
In their winning essays, Faulkner and Smith proposed a group captive to help restaurant franchisees manage risks and expenses.
In addition to cash prizes, the students will present their essays during an education session at the CICA Conference and have them published in Captive Insurance Times’ (CIT) April issue. CIT is a media partner of the essay contest.
The winners were announced yesterday (6 March) during the opening session of the CICA 2023 International Conference at the Westin Rancho Mirage Resort & Spa.
Second place went to Carter Cappon and Chase Mendham of Olivet College and third place to Ting-Wei Liu and Nachapol Charamornburapong of Temple University.
CICA president Dan Towle says: “It is great to see the students bring their creativity and problem-solving to real-world situations, while also getting a taste of what it might be like to work in the captive insurance industry.
“Once they dig into their case studies, they learn captive insurance is a growing industry that provides challenging problems and opportunities to create innovative solutions.”
Anne Marie Towle, CEO of Hylant GCS, comments: “It is wonderful to be able to give these talented students an opportunity to see how their education and skills could be used in the captive insurance industry. We hope they see the tremendous opportunities and different strategic and operational career paths that are available in captive insurance.”
Seniors Matia Daskalos and Vincent Palmieri from Temple University won the 2022 essay contest.
Daskalos and Palmieri proposed a captive solution for the case study of the American Cannabis Association, seeking to form a captive to provide liability coverage for general, product and automobile liability insurance as well as cyber risk.
