NU Online News Service, Oct. 10, 11:59 a.m. EDT
Leonard D. Crouse, former director of captive insurance in Vermont and a leading spokesman for the captive insurance industry, received the Karen Cutts Visionary Award of the National Risk Retention Association (NRRA) at its annual conference.
The Cutts Award is given each year to an individual who has made an outstanding contribution to the risk retention group and purchasing group liability insurance industry. Crouse is the first recipient of the award.
"Len Crouse is recognized as the leader who built the Vermont Captive Insurance Department into the leading captive regulator in the nation," says NRRA Chairman Brian Braley, who presented the award to Crouse. "He is one of the most respected authorities in the captive insurance world. The captive regulatory structure developed by the Vermont department under Len Crouse's leadership set the standard for captive regulation throughout the United States."
Crouse retired from the Vermont Department in January 2008. During his tenure, nearly 600 companies were licensed in Vermont. The state also grew to the second-largest captive domicile globally in terms of gross written premium, with $13 billion in 2007.
Prior to his appointment, Crouse was Vermont's director of Captive Insurance since May of 1990, and before that was chief examiner of the Property and Casualty Division of the Massachusetts Insurance Department.
Crouse joined the Towner Management Group in Burlington, Vt., as Partner-U.S. Operations. TMG consults with clients on alternative risk solutions and manages captive insurance companies in Barbados, Vermont and other jurisdictions.
RRGs are authorized by Congress to write liability insurance nationally when licensed in a single state. They have grown into a major sector of the insurance industry with more than 250 companies that write more than $2.5 billion in premium. NRRA is the professional association that represents the interests of risk retention and purchasing groups.
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