The Captive Insurance Companies Association announced that Michael R. Mead has been named recipient of the CICA 2011 Distinguished Service Award—the highest award in the captive insurance industry.

The National Catholic Risk Retention Group Inc. has been selected as the CICA 2011 Outstanding Captive Award winner. This award recognizes a successful captive insurance company or risk retention group that has shown creative uses for a captive; prevailed in difficult times; and gained a positive reputation among rating agencies, regulators and colleagues in the captive industry, CICA said.

CICA said it will honor the 2011 recipients of the CICA Distinguished Service Award and the CICA Outstanding Captive Award at the Opening Session of the CICA 2011 International Conference on Monday, March 13, in Tucson, Ariz.

Mr. Mead is president of M.R. Mead & Company Inc. in Chicago, an independent company specializing in structuring captives and risk financing programs. “Mr. Mead’s leadership of the captive insurance industry is legendary,” CICA President Dennis P. Harwick said.

Mr. Mead told NU Online News Service, “I was truly surprised and amazed when Dennis told me of the Committee’s selection. I have spent time with captives because I enjoy them very much, and the people associated with the profession. It is especially an honor to be given this award and I am grateful.” 

Mr. Mead is currently president of the newly formed Missouri Captive Insurance Association, a former chair and director of CICA, and a director of both the International Center for Captive Insurance Education (ICCIE) and the Captive Insurance Council of the District of Columbia. He serves as an advisor to the Arizona Captive Insurance Association and is a former chair/director of that organization.

He also has spearheaded CICA’s annual fronting survey—announcing results at the conference. Last year the survey found that for the second straight year, captive owners reported that securing collateral from banks to satisfy their fronting companies was their top concern.

He also is well known in the Cayman captive market, where he served as president of Crusader International Management.

“One of the criteria for the CICA Distinguished Service Award is assisting in the growth and success of the captive insurance industry,” said CICA President Dennis Harwick. “No individual has served in as many captive industry leadership roles—formal and informal—as Mike Mead. He is truly the senior statesman of this industry.”

The National Catholic Risk Retention Group (TNCRRG), formed in 1987, issued its first policies in 1988 in response to the market crunch that prompted TIME magazine to publish its famous “Sorry, America, Your Insurance Has Been Cancelled” magazine cover.

TNCRRG operates in 26 states and the District of Columbia. It insures a multitude of exposures for the Catholic Church, including almost 12,000 parishes, 540,000 grade school students, 263,000 high school students, 63,000 college students, 155,000 employees, 35,000 fleet vehicles, 30,000 children in day care, 270,000 patients of free medical/dental clinics, 1,600 professional counselors and 2,200 board members.

TNCRRG also conceived of and developed the award winning VIRTUS Program, a safe environment risk control program for the protection of children and vulnerable adults. This program has been highly praised by both secular and religious organizations.

“Mike Mead and The National Catholic RRG represent the best and brightest of the captive insurance industry,” Mr. Harwick noted. “They are creative and original, and they find solutions for organizations whose needs are not being met by the conventional insurance market.”

CICA, the only domicile-neutral captive insurance association, founded in 1972 by risk managers, said its conference features two full days of intensive education sessions and a comprehensive tradeshow.

Eric Wahl, a recognized artist and speaker, will deliver the keynote address challenging individual and organizations to transcend mediocrity through creativity.

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