New Officers and Directors announced for 2023-2024.
MINNEAPOLIS ─ MARCH 8, 2023 ─ Nicholas Hentges, MBA, CIC, CEO, and principal, Captive Resources, LLC, will Chair the Board of Directors of the Captive Insurance Companies Association (CICA).
Hentges uses his 30 years of captive experience to educate corporations and their brokers about the benefits of pooling their resources and lowering their insurance costs through the formation of member-owned group captive insurance companies. As CEO he focuses on long-term strategic planning and business development and oversees all aspects of his company’s operations. Hentges has served on the CICA Board since 2020. He is an active champion and supporter of young professionals and also serves on CICA’s NEXTGen Committee. In recognition of his industry leadership and contributions Hentges was recently voted #4 on Captive Review’s Power 50 list of influential captive industry leaders.
“This is a phenomenal time to be involved in captive insurance and I am honored to serve as CICA’s Board Chair. As CICA and the captive industry grow I look forward to working with my board colleagues and our volunteer leaders. We want to provide the education, advocacy, best practices and professional development our members need to help their captives create the innovative solutions that fuel our industry’s growth,” says Hentges.
In addition to Hentges, the board elected Mary Ellen Moriarty, vice president for Property & Casualty, EEIA, as Vice Chair; and Heather McClure, chief risk advisor, US Healthcare Practice at Aon Secretary/Treasurer. Renea Louie, chief operations officer, Pro Group Captive Management Services, serves as the Immediate Past Chair.
Returning CICA board members are: Courtney Claflin, head of insurance, Fluid Truck; Colin Donovan, president, STICO Mutual Insurance Company, a Risk Retention Group; Deyna Feng, director captive programs, Cummins Risk International; Udo Kappes, director, RWE AG-Germany; and Michael Zuckerman, assistant professor, Temple University.
New board members are:
Cheryl Baker, MBA, CIC, CRM, ARM, ACI, head of North American risk management, Stellantis. Baker has been involved in insurance, risk management and captive operations for over 20 years. At Stellantis she serves as President of their nearly $2 billion US captive. Previously she held insurance and risk management roles at BCBS of Michigan and helped build their captive from the ground up. Baker serves on the CICA Amplify Women Committee and co-chairs the Amplify Women Social Media Committee. She also serves on her local RIMS board and their Social Media and DEI Committees.
Prabal Lakhanpal, MBA, ACI, vice president, Spring Consulting Group, who chairs CICA’s NEXTGen Young and New Professionals Committee, was voted to a director position on the board. He previously served in an appointed position as NEXTGen Chair. Lakhanpal has worked in the captive industry since 2015 and works on strategic and innovative alternate funding initiatives related to employee benefits and P&C programs. Prior to joining Spring, he worked in various finance and operational roles across the globe.