The Captive Insurance Companies Association (CICA) will be honouring Chaz Lavelle, partner at Dentons Bingham Greenebaum, with its 2020 Distinguished Service Award and Ophthalmic Mutual Insurance Company (OMIC) with its 2020 Outstanding Captive Award.
Both Lavelle and OMIC will be awarded at CICA’s virtual ceremony on 2 December.
The Distinguished Service Award is presented annually, to a single individual or entity that has made a significant contribution to the captive insurance industry.
The Outstanding Captive Award is presented to a captive insurance company or risk retention group that has shown creative uses for a captive, been successful in managing the captive in terms of net results and usefulness to its owners, has prevailed over difficult times or situations and has gained acceptance, recognition, and a positive reputation among rating agencies, regulators and colleagues in the captive industry.
Dan Towle, CICA president, said: “The captive insurance industry is a great profession. In part, because of the outstanding work and contributions of individuals and captive organisations that have fought for best practices and creative uses of captive insurance to better manage risks and address business needs.”
“This year’s recipients have truly influenced the industry. They serve as role models for future captive professionals and for organisations considering forming captives,” Towle added.
Commenting on the 2020 Outstanding Captive Award, Tim Padovese, president and CEO of OMIC, noted: “OMIC has always had the utmost respect for CICA’s progressive forward focus, so to be recognised by such a respected organisation is quite an honour.”
“OMIC prides itself in exceeding our customers’ expectations, having a strict financial responsibility to our members, and is very committed to our patient safety initiatives. We thank CICA for recognising our 33 years of excellence,” he concluded.