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CICA Honors 2009 Recipients of Prestigious Industry Awards
MINNEAPOLIS, MN-February 25, 2009 -The Captive Insurance Companies Association (CICA) will honor the 2009 recipients of the CICA Distinguished Service Award and the CICA Outstanding Captive Award at the Opening Session of the 2009 CICA International Conference on Monday March 9, 2009.
 Katherine A. “Kate” Westover of Colchester, Vermont has been named the recipient of the 2009 CICA Distinguished Service Award -- the highest award possible in the captive insurance industry. Westover has over twenty years of experience in the captive insurance industry, has published two books about captive insurance, and is a frequent speaker at industry conferences. Ms. Westover is Vice President of Alternative Risk Financing Services for Innovative Captive Strategies, Inc., and also serves as Executive Director for the Community Blood Centers’ Exchange Risk Retention Group, an Overland Park, Kansas based organization. She holds both a B.A. and M.A. from Oxford University, England, and holds a CPCU designation. Ms. Westover has served as the International Business Representative for the domicile of Barbados, as an advisor to the Washington, DC Department of Insurance and Banking, and on the board of the Vermont Captive Insurance Association.
 Raffles Insurance Ltd. has been selected as the 2009 CICA Outstanding Captive Award winner. The award recognizes creative uses of a captive insurance company or risk retention group. Raffles was formed in 1984 to address the insurance needs of nine well-managed businesses seeking adequate insurance coverage at an affordable rate. It has now grown to 270 member companies representing manufacturing, distribution, contracting, retail, communications, and service industries. Raffles is the largest “heterogeneous” captive insurance company representing unrelated business who have banded together to provide the highest quality of insurance protection for its non-related shareholders, who are also its insured parties. The underlying concept is that the member shareholders should control their own insurance destiny by operating a well-managed, member owned insurance company. Raffles is domiciled in Cayman and is managed by Captive Resources, LLC of Schaumburg, IL .
“Kate Westover and Raffles Insurance Ltd. represent the best and brightest of the captive insurance industry,” noted Dennis P. Harwick, president of CICA. “Kate is widely respected throughout the industry. She understands on-shore and off-shore captive issues as both an academic and as a hands-on captive manager. Raffles Insurance Ltd. is an example of how a visionary like Raffles founder Karl von Heimburg can change the face of an industry by taking a group of well-managed, unrelated companies and molding them into a wildly successful organization that serves the insurance needs of a diverse group of companies.” CICA’s 2009 conference March 8-10, 2009 in Indian Wells, CA features two full days of intensive education sessions and a comprehensive tradeshow where captive owners and risk managers can learn about and evaluate business solutions and ideas with service providers and domiciles. Robert Crandall, former CEO of American Airlines, will serve as keynoter and speak on “Managing in Tough Times.” CICA is the only domicile-neutral captive insurance association. Founded in 1972 by risk managers for their collective benefit, CICA works to provide the foremost education, networking and leadership for captive and risk retention group professionals. Through CICA's personal network focused on the common issues that concern captives and risk retention groups, members are constantly exploring new ways to broaden the use of their captives to increase flexibility in program design, stabilize long-term program costs and increase access to both domestic (U.S.) and offshore reinsurance capacity. For program details and registration fees for the 2009 CICA International Conference, visit www.CICAworld.com. Captive Insurance Companies Association
4248 Park Glen Road
Minneapolis, MN 55416
Phone: 952-928-4655 # # #
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