It’s our pleasure to welcome Mike Madden back to the Berkley Accident and Health team after more than 10 years away. He rejoined the organization in 2024 as Senior Vice President of Captive Growth Strategy. We asked Mike his thoughts on Berkley Accident and Health and why he’s bullish on Group Captive programs.

Q: Welcome back, Mike! What brought you back to Berkley Accident and Health?

My move marks both a continuation and a new chapter in my professional journey and the company’s growth. Having been part of the original team that launched Berkley Accident and Health’s Medical Stop Loss Group Captive programs, I bring a deep familiarity with the company, as well as the captive insurance space. Over my career, I’ve had the opportunity to build and lead several other Group Captive programs, gaining a broad perspective on how the market has evolved. Now, I’m back. It’s an energizing experience and opportunity to help take our strategy to the next level.

What brought me back wasn’t just Berkley’s reputation or track record of success: it was the people. The same dedication and commitment that defined the company when I first joined remain at its core today. That enduring culture of doing the right thing, combined with Berkley’s continued growth, creates the perfect environment for innovation.

Q: Why are you excited about Group Captive programs?

The market is at an inflection point. Once considered a niche solution, Group Captive programs have become a strategic tool for employers seeking greater control, transparency, and long-term stability in managing health care costs. But with growth comes the risk of complacency: the classic innovator’s dilemma. Organizations that focus too heavily on past successes may miss opportunities to lead the next wave of change.

“The market is at an inflection point. Once considered a niche solution, Group Captive programs have become a strategic tool for employers seeking greater control, transparency, and long-term stability in managing health care costs.”

That’s what excites me most about this role. I see a tremendous opportunity to build on Berkley’s strong foundation while driving innovation that keeps our Group Captive programs ahead of the curve. Our strength lies in our ability to blend proven success with forward-thinking strategies, ensuring our clients don’t just keep pace with the industry, but lead it.

Q: What would you say to a business leader who’s thinking about joining a Group Captive program?

Group Captive programs are more than just a risk financing tool. They are about risk management. They are about alignment. They empower businesses to take more control of their own risk strategies while partnering with other employers and to have a real stake in these programs running well. At Berkley Accident and Health, our approach is built on three core pillars:

• Flexibility: We offer a wide range of structures, from open distribution models to broker-centric solutions.
• Transparency: We deliver clear, actionable insights into cost drivers, performance metrics, and financial outcomes.
• Partnership: We foster a collaborative environment where brokers and employers actively shape their Group Captive program experience – and at the same time, help to keep health plan costs lower for employees and their families.

While many companies are just entering the Stop Loss Group Captive space, Berkley Accident and Health has been refining its expertise for more than 15 years. Our ability to combine financial strength with strategic innovation positions us as a leader – one that’s committed to evolving with our clients and helping them thrive in today’s dynamic health care landscape.

To learn more about self-funding solutions, contact your local representative:  https://www.berkleyah.com/find-an-expert/

Stop Loss is underwritten by Berkley Life and Health Insurance Company and/or StarNet Insurance Company, both member companies of W. R. Berkley Corporation and rated A+ (Superior) by A.M. Best, and involves the formation of a group captive insurance program that involves other employers and requires other legal entities. Berkley and its affiliates do not provide tax, legal, or regulatory advice concerning EmCap. You should seek appropriate tax, legal, regulatory, or other counsel regarding the EmCap program, including, but not limited to, counsel in the areas of ERISA, multiple employer welfare arrangements (MEWAs), taxation, and captives. EmCap is not available to all employers and may not be available in all states. Payment of claims under any insurance policy issued shall only be made in full compliance with all United States economic or trade and sanction laws or regulation, including, but not limited to, sanctions, laws and regulations administered and enforced by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”).

BAH AD 2025-153       © Berkley Accident and Health     7/25