Following a nation-wide search, Michael Bemi, Chair of the Vermont Captive Insurance Association (the “VCIA”) Board of Directors recently announced that the VCIA has selected Richard Smith as the new President of the VCIA. Smith is a resident of East Montpelier, Vermont and is currently the Deputy Commissioner of the State of Vermont Public Service Department. Prior to that, he served as deputy commissioner of Economic Development and policy analyst in the Office of the Governor. Smith will assume his new position on October 15, 2008 and replaces Molly Lambert, who will retire after serving as President of the VCIA since 2002.

The VCIA is a trade association for captive insurance, representing nearly 500 members