The Captive Insurance Companies Association (CICA) has appointed Prabal Lakhanpal to the board of directors, effective March 2022. Lakhanpal currently serves as vice president of Spring Consulting Group, an employee benefits and risk management consultancy providing enterprise risk management and risk funding solutions, including single-parent captives, group captives, micro captives, risk retention groups and voluntary employee beneficiary associations. He also chairs CICA’s NEXTGen young and new professionals committee, which aims to promote and develop the next generation of captive insurance professionals. Commenting on the appointment, CICA president Dan Towle explains: “The captive industry is growing and changing rapidly. As a result, what the industry needs and what today’s young professionals want is evolving. It is important for CICA to hear the perspectives of our young professionals because they are our future.” Lance Abbott, CEO of BevCap Management and CICA board chair, says: “Having the NEXTGen chair on the board has helped us to make sure we are incorporating strategies that support career development and are appealing to young professionals when we are creating conference content and other programmes.” Lakhanpal adds: “I am thrilled to be joining the CICA board and to work with CICA and its stakeholders to help advance the captive industry. I am grateful for the opportunity and appreciative of CICA’s commitment to developing the next generation of captive professionals and leaders.”
