Richard Smith has resigned from his role as president of the Vermont Captive Insurance Association (VCIA), effective from the beginning of 2022. Smith has served as the president of the association since 2009 and is set to complete his tenure with VCIA to create space for new leadership to bolster the organisation’s goals and serve its members. Though he has not detailed specific plans for the next chapter of his own career, he indicates he may pursue opportunities closer to his own Vermont community. VCIA says it has navigated the pressures all organisations have endured over the past two years due to COVID-19, and is in a good position to be part of the unprecedented growth now being experienced in the captive insurance industry. The board of directors has created a formal search committee to focus on identifying VCIA’s next president. The directors say their top priority is a smooth transition process to aid in the continued success of the organisation. Smith states: “It has been a great privilege to lead this incredible organisation for the past twelve years. I am so grateful for the hard work and commitment of our wonderful staff, our board of directors, and VCIA’s members.” “I truly value the friendships I have made here. VCIA would not be what it is today without the significant contributions of everyone in this vibrant industry.” VCIA board chair Stephanie Mapes, of Paul Frank + Collins, extended her thanks to Smith for his leadership. She comments: “Richard Smith has been a pleasure to work with. He has skillfully led the VCIA with a steady hand during some very turbulent times. The VCIA Board truly thanks Smith for his hard work and deep commitment to the association.” More information on the leadership transition will become available over the next couple of months. It is anticipated that a new president will be in place sometime during January 2022.
