Rich Smith Looks Back on His Tenure as VCIA President

VCIA President Richard Smith will be stepping down from his position in early 2022. Smith came on as VCIA president in 2009 and the led association during throughout the 2010s, a decade that saw numerous challenges including 831(b)s drawing the attention of the IRS, a decline in the number of operational risk retention groups, and increased interest in captive insurance across the United States that held both positive and negative implications.

Then the coronavirus hit in early 2020 upending the global economy. The Risk Retention Reporter spoke with Smith to discuss his tenure as VCIA president, how he approached the challenges the association faced, and what he appreciates about the captive industry.

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