7 May 2014USA analysis

Vermont captive insurance pioneer Ed Meehan dies at age 73

The captive insurance community is mourning the loss of Edward “Ed” Meehan, Vermont’s first director of captive insurance.

He passed away on Sunday at his home in North Fort Myers, Florida after a prolonged illness, aged 73.

Meehan was hired by commissioner of banking and insurance George Chaffee during the Richard Snelling administration and served with distinction in Vermont’s captive division during the formative years of the growth of the captive insurance industry in Vermont.

Governor Peter Shumlin says Meehan’s tireless dedication to the state of Vermont has not been forgotten.

“Ed was one of the first people who worked to make Vermont the gold standard of domiciles,” Shumlin says. “His legacy of dedication and professionalism continues to provide valued contributions to Vermont’s economic prosperity and will be felt for generations to come.”

Before joining the state of Vermont, Meehan served in the Massachusetts division of insurance, and was responsible for hiring Len Crouse and Peter Raymond who became respected leaders in Vermont’s captive insurance division.

Susan Donegan, commissioner of the department of financial regulation, called Meehan a legendary colleague and an honorable public servant.

“Those of us who worked with Ed starting when DFR was called the department of banking and insurance all benefited from his expertise and wonderful sense of humor,” says Donegan. “Deputy commissioner of insurance Crosby Sherman and I will always remember Eddie as a larger than life figure in our industry. We had great respect for his willingness to make tough decisions. Vermont would not be a global leader in captive insurance without his contribution.”