CIC Services, LLC promotes Leane Rafalko to the role of vice president of captive operations. Rafalko previously served as the firm’s director of captive management since joining the company in April 2023. In her new position, Rafalko is responsible for the oversight of the firm’s captive management operations. This includes facilitating the formation of new captive insurers and supervising ongoing regulatory and compliance maintenance. Her responsibilities also encompass maintaining client relationships, presenting at client board of directors’ meetings, and facilitating audit and actuarial reviews. Additionally, she oversees the firm’s management system and operations procedure manual. Rafalko brings more than 23 years of insurance industry experience to the role, with a significant portion of her career spent in insurance regulation. Before moving to the private sector, she spent more than 21 years at the North Carolina Department of Insurance (NCDOI). During her tenure at the NCDOI, Rafalko served as chief captive analyst from July 2014 to July 2022. In this capacity, she assisted the senior deputy commissioner in licensing and regulating North Carolina domestic captive insurance companies, oversaw financial analysis, and approved protected cell applications. She also played a key role in marketing and promoting the North Carolina captive insurance programme and the state as a preferred domicile for captive formation. Her earlier regulatory experience at the NCDOI includes serving as an insurance company examiner manager and an insurance company examiner-in-charge. In these roles, she led statutory financial examinations, managed personnel, and determined compliance with state statutes and regulations. Rafalko began her career as a staff insurance company examiner with the Pennsylvania Insurance Department. In the private sector, Rafalko’s experience includes a tenure as an audit manager at RH CPAs, where she managed financial statement audits for a variety of insurance entities, including mutual insurance companies, risk retention groups, and captives. She also served as a senior captive consultant at Hylant Global Captive Solutions, where she focused on the development and management of captive insurance structures. Rafalko is an active member of several industry organisations. She has been a member of the Society of Financial Examiners (SOFE) since 2007 and currently serves on its board of governors, with a term ending in 2030. Additionally, she was elected to the North Carolina Captive Insurance Companies Association (NCCIA) board of directors in May 2023 and is a member of the NCCIA planning committee. Most recently, Rafalko was elected vice president of the Utah Captive Insurance Association (UCIA) board of directors. Rafalko holds a Bachelor of Science in accounting from the University of Scranton. She also possesses the Certified Financial Examiner (CFE) and the Associate in Captive Insurance (ACI) professional designations.
