VCIA’s Smith pays tribute to early innovator

Vermont Captive Insurance Association (VCIA) president Richard Smith has paid tribute to Roger Phelps, who recently died. Phelps was one of the “founding fathers” of Vermont’s captive insurance industry,  Smith wrote.

Phelps was a former president of Alcoa’s captive, Three Rivers Insurance Co, with it from its beginning in 1983 – only the eight captive licensed in Vermont.

“Three Rivers is one of the few parent companies with a captive employee intentionally located in Vermont,” Smith wrote.

Phelps was an active participant in the VCIA and created its first logo. In 2000 he won the VCIA’s Industry Service Award.

“Our hearts go out to his family and friends and the many people he touched in the captive community,” Smith added. “He influenced many.”