Vermont Deputy Commissioner, Captive Insurance at the State of Vermont David Provost will be retiring at the end of summer 2022. Provost has led the Vermont captive division since 2008. The Risk Retention Reporter reached out to Provost to discuss his decision to step down, the current captive team in Vermont, and what’s next for Vermont and the captive industry.
What made it the right time for you to step aside as the head of the captive department in Vermont?
The market was doing so well…
When I accepted the position, I committed to 10 years, both to the Commissioner and myself. I hung on for 14! I wanted to retire while there were people in the division that wanted the job. I knew we had several great candidates, and the last thing I wanted was for any of them to leave for lack of opportunity. Thanks to the hard work of everyone in the division, we’re in really good shape, which will make the transition as smooth as possible. I also wanted to do this while the rest of the Department was stable – Mike’s departure (Ed. Note: Mike Pieciak, the commissioner of the Vermont Department of Financial Regulation from 2016 to 2022, left his position in May of 2022 to run for Vermont State Treasurer) put some extra twists in those other divisions, but they also had deep benches ready to step up. Finally, I do have other goals in life, many of which get a lot tougher with added years.
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