VCIA’s Richard Smith to quit

Richard Smith, president of the Vermont Captive Insurance Association (VCIA), is stepping down. Smith, who has led the association since 2009, will give up the post at the start of 2022 to make way for new leadership to pursue VCIA’s goals, he announced yesterday.

“It has been a great privilege to lead this incredible organization for the past twelve years,” said Smith.

“I am so grateful for the hard work and commitment of our wonderful staff, our board of directors, and VCIA’s members. I truly value the friendships I have made here. VCIA would not be what it is today without the significant contributions of everyone in this vibrant industry.”

VCIA board chair Stephanie Mapes of law firm Paul Frank + Collins thanked Smith for his leadership.

“Rich has been a pleasure to work with. He has skillfully led the VCIA with a steady hand during some very turbulent times. The VCIA Board truly thanks Rich for his hard work and deep commitment to the association,” she said.

His departure comes at a time of “unprecedented growth” in the captive industry, the association said. The board of directors has created a formal search committee to find the next president and ensure a smooth transition.