Peace Church Sponsored Captive Update
Resource Partners is very excited to announce that effective December 1, 2020, the Vermont Department of Financial Regulation has authorized Peace Church Sponsored Captive, LLC. to transact the business of a captive insurance company. The culmination of many month’s effort, the captive will provide financial and service benefits along with efficiencies in management to PCRRG, PCHIP and PCWSP and provide key strategic positioning for future initiatives.
Each program will continue to operate with no change in their current legal forms but will do so within its own incorporated protected cell within the Peace Church Sponsored Captive. The stronger bond provided by group participation will promote greater growth opportunities for all programs. Additional cells may be created for future program development and growth. The creation of future cells provides the potential for a revenue stream further defraying administrative costs.
At the direction of the boards of Resource Partners, PCSC, PCRRG, PCHIP and PCWSP, Phil Leaman and Eric Himes are leading this initiative and will be looking for ways to capitalize on the many benefits provided by this model. They look forward to discussing potential opportunities with you.