Vermont Captive Insurance Association President Molly Lambert will be leaving VCIA to take a post as state director for rural development for Vermont and New Hampshire at the U.S. Department of Agriculture.
"It's pretty humbling and pretty wonderful and pretty sad all at the same time," Ms. Lambert told National Underwriter, noting she will be leaving VCIA on May 14.
She said that Diane Leach, director of education and meeting planning for the association, will be appointed interim director of VCIA, and that the VCIA board will begin a search to fill the position.
As president of VCIA, Ms. Lambert witnessed the further development of the captive insurance industry in Vermont–the largest U.S. captive domicile and one of the biggest globally.
She said her new job will be to increase economic development opportunity and "improve the lives of people who live in rural communities in the states of Vermont and New Hampshire." She said the organization has five offices and a staff of 52 in the two states.
In her new post, Ms. Lambert will oversee the investment of tens of millions of dollars in each state to promote and support rural economic development, through loans and grants to individuals, organizations, businesses and communities.
The programs range from direct mortgage assistance to income-eligible homebuyers, energy efficiency grants to businesses making energy improvements, water and wastewater improvement grants, and loans to communities.
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