Bruce Whitmore Email & Phone Number

Florida, United States

Tampa/St. Petersburg, Florida Area

Responsible for developing and implementing Willis Towers Watson's global captive strategies, captive consultancy and captive management services, including working with both Willis Towers Watson and third-party brokers & clients. Role involves strategic consulting with large and middle market firms about the benefits and risks of captive insurance companies, analyzing alternative risk transfer mechanisms, developing captive feasibility studies, and growing the captive practice. Focus… Show more Responsible for developing and implementing Willis Towers Watson's global captive strategies, captive consultancy and captive management services, including working with both Willis Towers Watson and third-party brokers & clients. Role involves strategic consulting with large and middle market firms about the benefits and risks of captive insurance companies, analyzing alternative risk transfer mechanisms, developing captive feasibility studies, and growing the captive practice. Focus includes healthcare providers & payers, financial services, REITs, large & middle market commercial business, group captives and alternative risk transfer solutions. Recently involved in the following alternative risk solutions:• Developing multiple single-parent captives for healthcare systems to drive down the organizations' net cost of risk across multiple lines including PL/GL, W/C, D&O, EPLI, Cyber, Regulatory, Wage & Hour, Medical Stop Loss and other risks• Consulting with multiple Blue Cross/Blue Shield plans to create captives to address Directors & Officers, Managed Care Errors & Omissions challenges and to improve the organizations' capital and regulatory efficiencies and key metrics• Designing a previously non-existent solution for hospitals and healthcare systems to obtain MPL coverage on an Occurrence form policy to qualify for coverage from a state’s Patient Compensation Fund (PCF) so as to cap liabilities under state law while still retaining control over their claims • Creating a District of Columbia domiciled Reciprocal Risk Retention Group (RRG) for independent physicians affiliated with a large, quasi-governmental academic healthcare system• Establishing two DC domiciled captives for REITs to access the Federal TRIA backstop and provide a solutions to underwrite, rate and allocate Wind Storm & Storm Surge and other catastrophic property premiums to its tenantsBruce serves as a faculty member for ICCIE, teaching industry professionals about captives. Show less

Park Ridge, Il

Led the development, sales and marketing efforts for wholesale and retail business nationwide for Facilities, Non-Standard Healthcare Providers, and other portfolios. Implemented new product development and launch for miscellaneous facilities and other Excess & Surplus Line (E&S) products. Led efforts to expand MedPro's footprint in captives, alternative risk financing and program efforts nationwide.• Grew annual portfolio premiums from $500,000 to $16 Million in a softening… Show more Led the development, sales and marketing efforts for wholesale and retail business nationwide for Facilities, Non-Standard Healthcare Providers, and other portfolios. Implemented new product development and launch for miscellaneous facilities and other Excess & Surplus Line (E&S) products. Led efforts to expand MedPro's footprint in captives, alternative risk financing and program efforts nationwide.• Grew annual portfolio premiums from $500,000 to $16 Million in a softening market.• Developed 3 new wholesale specialty programs, generating over $4 Million in annual premiums.• Produced $9 Million in new annual Facility and Non-Standard premium through retail brokers.• Generated nearly $500,000 in fee revenue by developing and marketing Alternative Risk products.• Delivered one-click marketing programs and webinars to 1,200 brokers resulting in new E&S branding. Show less

Elmhurst, Il

Formed and directed new captive management firm and insurance brokerage. Developed, managed and grew Cayman domiciled, physician-owned group captive insurance company. Directed all captive services including fronting, reinsurance, actuarial, claims management, brokerage, offshore management, banking, and accounting. Planned and conducted offshore Board of Directors meetings. Served as Managing Underwriter for the captive.• Generated over $13 Million in annual premiums and $750,000… Show more Formed and directed new captive management firm and insurance brokerage. Developed, managed and grew Cayman domiciled, physician-owned group captive insurance company. Directed all captive services including fronting, reinsurance, actuarial, claims management, brokerage, offshore management, banking, and accounting. Planned and conducted offshore Board of Directors meetings. Served as Managing Underwriter for the captive.• Generated over $13 Million in annual premiums and $750,000 in annual revenue within 3 years.• Increased an affiliate’s Personal Lines revenue over $250,000 through a risk-bearing structure.• Developed a General & Product Liability (GL/PL) product for specialized equipment dealers.• Provided Strategic Planning for an affiliate, resulting in over $300,000 in increased revenues. Show less

Schaumburg, Il

Administered 3 captive insurance companies generating over $20M in annual premiums. Negotiated and managed captive services including: underwriting, brokerage, policy issuance, reinsurance, claims management, loss prevention, actuarial, offshore management, banking and auditing. Planned and conducted offshore captive Board of Directors meetings.• Increased an Electrical Parts & Distributor captive’s premium by over $6 Million. Grew membership to over 100 members with over $10 Million… Show more Administered 3 captive insurance companies generating over $20M in annual premiums. Negotiated and managed captive services including: underwriting, brokerage, policy issuance, reinsurance, claims management, loss prevention, actuarial, offshore management, banking and auditing. Planned and conducted offshore captive Board of Directors meetings.• Increased an Electrical Parts & Distributor captive’s premium by over $6 Million. Grew membership to over 100 members with over $10 Million in AL, GL, W/C and Property premiums. • Developed, launched, and managed a heterogeneous group captive program for 500 brokers nationwide, reaching over $10 Million in annual premium within 2 years. • Created the company’s first medical malpractice captive. Show less

Gurnee, Il

Created a Risk Purchasing Group (RPG) for professional liability risks exhibiting adverse risk characteristics to be issued on an admitted basis. Served as MGA for the RPG. Created underwriting rating database to analyze & track specialties, retroactive dates, claim frequencies & severities, educational background, continuing education, rate deviations and underwriting discretion to determine premiums and predict the program’s combined ratio. Developed underwriting guidelines, policy… Show more Created a Risk Purchasing Group (RPG) for professional liability risks exhibiting adverse risk characteristics to be issued on an admitted basis. Served as MGA for the RPG. Created underwriting rating database to analyze & track specialties, retroactive dates, claim frequencies & severities, educational background, continuing education, rate deviations and underwriting discretion to determine premiums and predict the program’s combined ratio. Developed underwriting guidelines, policy language, filed the RPG and forms with numerous DOIs and managed the RPG. Show less

Education record

Education record

Education record

Captive Insurance

Bruce serves as a faculty member for ICCIE, teaching captive insurance to regulators, producers, underwriters and other industry.