Simpson & McCrady Alternative Risk has created a new entity to more narrowly focus on the U.S. and international captive insurance segment.
Capterra Risk Solutions has been spun off from Simpson & McCrady, a 100-year-old boutique risk management and brokerage firm based in Pittsburgh.
“We have decided to launch our own brand to reflect our focus on captive insurance products,” said Sandra L. Fenters, managing principal of Capterra Risk Solutions.
Capterra will use the same team for independent risk management and captive management services. Fenters expertise spans multiple disciplines including surety, professional liability, commercial liability and high net worth personal lines insurance, according to the firm.
Edward A. Aiello serves as captive consultant & compliance officer. He is retired vice president of global insurance for H.J. Heinz, where he had been responsible for the establishment and administration of both direct writing and reinsurance captives in onshore and offshore domiciles including Bermuda, Dublin and Vermont.
“Captive insurance companies are very popular in states where there is captive legislation,” said Fenters. “And while Pennsylvania does not currently have captive-enabling legislation, this does not mean that Pennsylvania-based companies cannot form a captive of their own.”