Board of Directors

  • Nicholas Hentges

    Board Chair*
    Captive Resources, LLC, Itasca, IL

    Nicholas J. Hentges has an extensive background with insurance company, brokerage, and captive consulting and management operations. Early in his career, Hentges held several management positions in underwriting and marketing with Cigna before moving to Kirke Van Orsdel, a regional broker specializing in association programs. In 1993, he joined Captive Resources to develop and manage both homogeneous and heterogeneous member-owned group captives. He was a member of the management team that acquired the assets of Captive Resources and Cayman Islands-based sister company Kensington Management Group from its publicly held parent company in 2002. Hentges uses his 30 years of captive experience to educate corporations about the benefits of pooling their resources and lowering their insurance costs through the formation of member-owned group captive insurance companies. As CEO of Captive Resources, which represents 6,000 clients in 46 member-owned homogeneous and heterogeneous group captives with total annual written premium of $3.6 billion, Hentges oversees business development, administration, finance, claims and risk control, travel, and human resources, in addition to focusing on the company’s long-term strategic plans.

  • Mary Ellen Moriarty

    Vice Chair*
    EIIA, Chicago, IL

    Mary Ellen Moriarty has been actively engaged in the insurance industry for over 30 years in positions
    within national insurance brokerages as well as commercial insurance carriers. She joined EIIA in 2002,
    as the Vice President for Property & Casualty, focusing her extensive insurance experience on the higher
    education industry group. Mary Ellen received a Bachelor of Science from Northern Illinois University, a
    MBA from DePaul University and a Masters of Pastoral Studies from Loyola University. She currently
    holds the Chartered Property & Casualty Underwriter (CPCU), Associate in Risk Management (ARM), and
    Associate in Captive Insurance (AIC) designations.

  • Heather McClure, JD, LLM

    Helio, Edmond, OK

    Prior to joining Helio, Heather was Chief Risk Advisor for the national healthcare practice at Aon, a global risk and insurance services company. Prior to that role Heather was Chief Risk Officer at the University of Oklahoma’s health system, directing risk, claims, captive operations, and insurance structure, including property, cyber, directors and officers, employer liability, workers compensation, provider professional liability, hospital liability, aviation, auto, and all other commercial and captive lines. Heather also served as Chief Legal Officer of the system’s captive insurance company, saving the system millions over its years of highly successful operations.

    Heather’s career began as a trial lawyer defending organizations and medical providers in the law firm setting, trying multiple cases to juries as lead counsel. After ten successful trials, she began a career as in-house counsel to a large organization in Texas, managing people and processes related to risk, claims, and litigation.

    Heather earned a Bachelor of Arts in Journalism with a Political Science minor and a Juris Doctorate from the University of Oklahoma and a post-doctorate Master of Laws (LL.M.) degree in Health Law from DePaul University, Chicago. She holds certifications as a Professional in Healthcare Risk Management (CPHRM) from the American Society of Healthcare Risk Management and a Mediator Certification from Southern Methodist University in Dallas. Heather is licensed as a lawyer in Oklahoma, Texas, and Vermont and has insurance producer licenses in Oklahoma and Texas.

    Heather was elected by the captive industry as Captive Review’s U.S. Captive Risk Manager of the Year in 2020 and was voted by peers to be #27 on its Power 50 list. She is a former board member and Chair of the Vermont Captive Insurance Association and is a current board member of Captive Insurance Companies Association (CICA), the largest non-domicile industry association for captives in the world. In March 2023, Heather was elected to an executive officer position with CICA’s board of directors.

    Heather’s expertise includes providing risk financing and operational solutions for all industries including insurance program analyses, commercial and captive structure and operations, alternative risk transfer, creating endorsements and policy forms to address evolving risk, and claims advocacy support. She teaches classes, speaks at industry events, and publishes numerous articles on risk and liability issues, and operational best practices for risk financing programs across the country and internationally.

  • Renea Louie, ARM, ACI, Fellow

    Immediate Past Chair*
    Pro Group Captive Management Services, Carson City, NV

    Renea Louie joined the Pro Group family of companies in 2005. She serves as Chief Operations Officer of Pro Group Captive Management Services. Mrs. Louie is an accomplished business professional with extensive experience and knowledge in the Alternative Risk Transfer industry. Pro Group, since 1995 is known as the premier administrator of self-insured groups for workers’ compensation and approved Captive Manager specializing in alternative risk transfer solutions for businesses of all sizes and types across the United States. Prior to joining Pro Group, she held top level roles in the high-tech industry.

    Mrs. Louie has 29 years’ experience in senior management, operations, IT, marketing and administration. She is responsible for the day to day operations of the Pro Group companies. She oversees and manages marketing, underwriting, accounting, audit, risk management, client and regulator relations, client acquisition & retention, regulatory compliance and corporate communications and standards.

    She is a respected industry leader and her experience includes procurement, management, and team oversight of complex national and global risk management clients using her authoritative experience in the feasibility, formation, licensing, and ongoing management for all forms and types of captives and Self-Insured Groups.

    Mrs. Louie has served the industry as a Board member on the International Center for Captive Insurance Education (ICCIE) for 2 terms totaling 6 years and continues to serve on the marketing committee. She has served on numerous committees over the past 15 years and is a member of many state and national associations including Nevada, Utah, Arizona, Vermont, Tennessee and others and chairs several currently. She currently serves on the SIIA Federal subcommittee on regulation, the Western Region Association, Nevada Captive Industry Council/Secretary and Director and is an elected Director of the Captive Insurance Companies Association (CICA) in her third term, and 2 years ago was elected as an officer serving as the Secretary/Treasurer of the global organization.

    She is an esteemed longtime member of the Risk and Insurance Management Society (RIMS) and has been recognized and awarded for outstanding achievements in the industry and a recipient of the scholar award. She was also awarded the prestigious Fellow Status by ICCIE.

    Her unique and wide range of skill sets and experience in the formation and ongoing operations of all types of captives and groups has enabled her to become an engaged leader in the industry in the last decade and is a frequent speaker and commentator at industry conferences and meetings. She holds degrees in Risk Management and in Insurance as well as an ACIT. Mrs. Louie is based at the Corporate Headquarters in Carson City, Nevada.

  • Cheryl Baker

    Stellantis, Auburn Hills, MI

    Cheryl Baker is the Head of North American Risk Management at Stellantis. Cheryl has over 20 years of experience in the insurance industry, covering various areas of focus including mergers and acquisitions, professional liability, corporate claims, and cyber risks, all with the effective utilization of captive insurance companies in mind. Cheryl strives to work with internal and external colleagues to assess risks and assist executive leadership in making risk-intelligent decisions. Cheryl is the president of Stellantis’ US-based captive and has earned an MBA from Louisiana State University-Shreveport, and a Bachelor of Arts from the University of Michigan-Dearborn, as well as the ARM, CIC, CRM, and Associate in Captive Insurance designations.

  • Courtney Claflin

    Fluid Truck, Denver, CO

    Courtney is Head of Insurance at Fluid Truck. He leads the design, development, implementation, and management of wholly owned captive insurance companies to finance the organization’s risks and those of its subsidiary operations. Previously, he served seven years as the Executive Director of Captive Programs for the University of California, Office of the President where he built and directed several captives including Fiat Lux Risk and Insurance Company a single parent captive, UC Health a RRG, Eureka a PCC, Eureka One, IC and Sequoia, IC. He previously spent 30 years in the insurance brokerage community as a direct writing agent, independent broker, and ultimately a captive insurance practitioner. He was named the 2016 Captive Professional of the Year at the Captive Review US Captive Awards. In 2017, he was named a National Risk Allstar by Risk & Insurance magazine and Fiat Lux Risk and Insurance Company received the 2017 Outstanding Captive Award from CICA. In 2020 he was ranked 10th on Captive Review magazine’s “Power 50”. In 2021 and 2022 Captive Review also recognized him as one of the 20 most influential captive insurance owners. A frequent industry speaker, Courtney is also a member of the faculty for the International Center for Captive Insurance Education.

  • Colin Donovan

    STICO Mutual Insurance Co., RRG, Deerfield, IL

    Colin Donovan is the President of STICO Mutual Insurance Company, A Risk Retention Group, which specializes in general liability, pollution liability, and contractual liability insurance for 120 storage tank manufacturers, pressure vessel fabricators and petroleum equipment contractors throughout the country.

    Starting with STICO in 1998, Colin oversaw the underwriting, marketing, reinsurance placement and investment management before assuming the presidency in 2015.

    Colin earned his B.S. in Marketing and B.S. in Mass Communications from Miami University in Oxford, Ohio in 1995 and earned his M.B.A., with Distinction, from DePaul University in Chicago, Illinois in 2002. He also earned his Associate in Captive Insurance from the ICCIE program in 2008.

  • Deyna Feng

    Cummins Inc., Indianapolis, IN

    Deyna Feng is Captive Program Director with Cummins Inc. for over 4 years, managing one single parent captive – Dynamo Insurance Company, Inc. and running off programs of 3 offshore group captives. In March 2017 Deyna successfully lead the sale of ICDC, one group captive acquired during Cummins business development. Deyna also leads global risk mitigation projects and initiatives, including global loss engineering on Property and Business Continuity Planning (BCP) stress test. Before this role, Deyna Feng was based in Beijing, China for 4.5 years, responsible for Regional Risk Management in Asia Pacific, including insurance procurement, risk mitigation, and claim management.

    Before joining Cummins, Deyna was one of the lead loss adjusters for Crawford China for 4 years, working with domestic and international insurance companies for large claims of all property and casualty lines, especially products liability and recall, and general liability claims for multinational five star hotel groups. Deyna also worked in other occupations of 2 other companies in China, relating to general management and B2B advertising for 5 years.

    Deyna Feng holds a bachelor’s degree of Economic Law, and ACI designation certificate. Deyna participated in postgraduate study of Economic before relocating to the United States. In 2017 Deyna earned her 6 Sigma Green Belt and won the Finance Business Impact Award at Cummins. Deyna Feng volunteers with the RIMS International Council and now is chairing the council in 2019. Deyna is on the board of directors of the Captive Insurance Companies Association (CICA).

  • Udo Kappes

    RWE AG, Essen, Germany

    Udo Kappes started his career at the German Property Insurance Association (VdS). Later he took over the position of the Property Insurance manager at the in-house broker of the Daimler Group. In 2001 Udo joined the in-house broker of the newly founded European Aeronautic Defence and Space Group (EADS) in Munich, now Airbus, with the global responsibility for Property insurances. Since 2016 Udo was in charge of the development, placement and claims process of the group`s global Property, Casualty & Employee insurance lines and reinsurance. In October 2022 Udo took over the responsibility as Head of Insurance at RWE AG in Essen.

    In addition to his function at Airbus he became member of the Board of the European Captive Insurance and Reinsurance Owners` Association (ECIROA) in 2014 and is its Chairman since 2016. In March 2022 Udo became a Board member of the Captive Insurance Association (CICA).

  • Prabal Lakhanpal

    Spring Consulting Group, An Alera Group Company, LLC, Boston, MA

    Prabal Lakhanpal, MBA, ACI is a Vice President and has been with Spring since 2015. At Spring, Prabal leads many of the firm’s most advanced client projects, with a focus on employee benefits, captive insurance and alternative risk funding. He drives the strategic and innovative thinking processes and serves as the project lead for some of the country’s largest employers. Prior to joining Spring, Prabal was working in various finance and operational roles across the globe. In 2019, Prabal won the Emerging Talent award for Service Professionals from Captive Review. He was the 2020 winner of Employee Benefit Adviser’s Rising Star Award and was recognized by Business Insurance for their 2020 Breakout Awards. In 2021 he was recognizes a Rising Star by Insurance Business of America for continuing to push the industry forward. Prabal has his MBA from Babson College and has received the Associates in Captive Insurance (ACI) certification. Prabal currently serves as a Board of Director at Captive Insurance Companies Association (CICA).

  • Daniel D. Towle

    CICA President
    Captive Insurance Companies Association (CICA), Noblesville, IN

    Mr. Towle has been President of the Captive Insurance Companies Association (CICA) since 2017. Previously, he worked as the Director of Financial Services for the state of Vermont for 17 years. At Vermont he was the chief marketing and business development professional for the state’s captive insurance industry and was instrumental in its growth. During his tenure more than 500 captive insurance companies were licensed in Vermont. He has more than twenty-five years of leadership and experience in the captive insurance industry.

    CICA is the premier global, domicile-neutral captive insurance association. CICA brings together approximately 400 members from all sectors of the captive industry to network, share best practices and provide a unified voice on issues impacting the industry.

    CICA works to protect the captive industry. CICA monitors emerging issues and regulatory changes in the U.S. and around the world. Together with its advocacy partners, CICA can proactively help mold laws and regulations affecting the captive industry.

    CICA annually hosts an international conference in the US and biennially co-hosts an international conference in Luxembourg. Towle is a frequent presenter at conferences throughout the U.S. and internationally. He is highly visible in international media and is viewed as an authority on captive insurance. He has been recognized for his contributions to the global captive insurance industry and was voted #9 in the 2021 British publication, Captive Review Magazine “Power 50” which recognizes the most influential individuals in the global captive insurance industry and has been on the list annually since 2016.

    He currently serves on the Board of Directors for the International Center for Captive Insurance Education. He previously has served as an Advisory Board Member for World Captive Forum, Chaired the Risk & Insurance Management Society Exhibitor Advisory Committee and was active in various capacities with the Vermont Captive Insurance Association.

    Prior to his role with the State of Vermont, he was a Business Development Officer at Vermont National Bank. During his 10-year tenure with the bank, he worked in various capacities including branch banking, corporate banking services, and served for a year on the bank’s prestigious corporate re-engineering team.

    Towle is a graduate of the University of Vermont, has two children, two step-children and is married to Anne Marie Towle, who also works in the captive insurance industry.

  • M. Michael Zuckerman

    Temple University, Philadelphia, PA

    Professor Zuckerman is an Associate Professor Instruction, Temple University’s Fox School of Business in Philadelphia, and the Academic Director for the Fox School’s Risk, Insurance, and Healthcare Management Department (RIHM) Enterprise Risk Management initiative. This activity includes the development and ongoing management of its annual Enterprise Risk Management Conference at Fox, which began in 2018.

    Professor Zuckerman rejoined the Fox School full-time in 2012 from Aon, where he served as Managing Director and Alternative Risk Financing Practice Leader for the Health Care Industry Group. Professor Zuckerman’s more than three decades of industry experience include executive positions at Thomas Jefferson University, Willis, Marsh, and Temple University Health System. He also consults on Risk Management and Insurance issues and is also a frequent speaker and writer on Alternative Risk Financing and general risk management issues. His experience includes thirty-six years in Captive Insurance.

    Professor Zuckerman’s teaching experience includes:

    • Risk Financing (undergraduate)
    • Managing Risk Across the Enterprise (undergraduate writing-intensive capstone course)
    • Enterprise Risk Management (MBA and EMBA)
    • Captive Insurance Company Management (CE Course)


    Professor Zuckerman’s education includes:

    • Temple University Fox School of Business BBA and MBA
    • University of Illinois at Chicago John Marshall Law School Juris Doctor (JD)
    • International Center for Captive Insurance Education (ICCIE) Associate in Captive Insurance (ACI) and Fellow designations


    Professor Zuckerman is most passionate about:

    • Designing Alternative Risk Financing/Transfer Programs within a SERM Framework
    • Educating the next generation of risk management professionals
    • Working with Families Forward Philadelphia to provide needed resources to homeless children and their families.

*Executive Committee Members

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