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Butler University builds student-run captive to train Vermont talent
Risk & Insurance says the program is aimed at addressing an industry shortfall, with the U.S. set to lose about 400,000 insurance workers to retirement or attrition by the end of 2026.
Risk & Insurance reports that Butler University’s student-run captive is designed to give students hands-on experience in captive insurance and help build a pipeline of future insurance professionals in Vermont.
The article points to an ongoing talent shortage, citing a Bureau of Labor Statistics estimate that the industry will lose about 400,000 workers between 2021 and the end of 2026 through retirement or attrition, while younger workers show limited interest in insurance careers.
In Vermont, Brittany Nevins, the state’s Captive Insurance Economic Development Director, said high retirements and industry growth are straining the future of the captive sector, and that many students have limited awareness of captive insurance as a career path or of risk management as an option.
According to Risk & Insurance, Vermont regulators have worked with Butler, where the Davey Risk Management and Insurance program in the Lacy School of Business is described as the only program with a student-run insurance captive, formed in 2017 with investment from MJ Insurance. Students have been involved in selecting a domicile, identifying risks aligned with the captive’s appetite, and managing claims.