From: Captive International

Women have more opportunities to get ahead in the captive insurance industry than elsewhere in insurance, or in many other industries, according to Mary Ellen Moriarty, a risk manager at College Insurance Company.

Speaking on an Amplify Women webinar, hosted and organised by the Captive Insurance Companies Association (CICA), Moriarty attributed the success of women in captive insurance to the importance of accounting within the industry, and the dominant position women have in accountancy.

“Women dominate the accounting industry, both among undergraduates and practitioners,” she explained. Women’s success in accounting has led to their success in captives, she said.

Moriarty said she had been amazed by the number of women working in the captives industry when she first visited Vermont in 2002. “There were many women in leadership roles,” she noted.

Meanwhile, Leane Rafalko, chief captive analyst at the North Carolina Department of Insurance, noted that the clearer guidance and regulation around gender equality provided in the public sector has fostered greater gender equality.

Having transparency around pay, and a clear pay scale, has made the public sector very meritocratic, where hard work is recognised for both men and women, she added.