Stephanie Mapes

ICCIE elective: Risk Retention Groups

Stephanie Mapes leads the Captive Insurance team at Paul Frank + Collins. Her practice includes forming and advising clients with respect to pure and association captives, risk retention groups, protected cell captives, reciprocal captives, and other alternative insurance arrangements, including medical stop loss captives. Specifically, Stephanie assists her clients with respect to the captive tax, regulatory and legal ramifications of various transactions, entity structures, contract negotiations, and insurance programs.

Stephanie is a pioneer and recognized leader in the captive insurance industry, serving captive insurance clients and industry trade groups for over 27 years. She has experience in multiple industries and handling insurance solutions for some of the largest Fortune 500 companies and for middle market companies, with captives located in Vermont, New York, Missouri, South Carolina, and Arizona. Many of Stephanie’s captive clients are representative of the health care industry, and more recently, the medical stop loss captive industry. Stephanie’s captive team is complemented by the PF+C Insurance Services group which handles captive insurance claims work, claim audits, reinsurance disputes, policy drafting, and coverage opinions.

Stephanie is a member and past chair of the Legislative Committee of the Vermont Captive Insurance Association (“VCIA”) and a member of the Government Affairs Committee of the National Risk Retention Association (“NRRA”) where she monitors and assists with local and national legislation affecting captives and risk retention groups, including initiatives by the National Association of Insurance Commissioners to regulate risk retention groups.

Stephanie is a frequent lecturer at captive insurance conferences, including the annual VCIA conference (the largest captive insurance conference in the U.S.) and captive forums elsewhere in the U.S. and in Bermuda. She serves on the faculty of the International Center for Captive Insurance Education where she teaches a course on risk retention groups. She has also been a guest lecturer at Vermont Law School on the topic of captive insurance and serves on the Boards of Directors for many of the Vermont captive insurance companies represented by PF+C. Stephanie served as President of  Paul Frank + Collins from June, 2014 through June, 2019.

University of Delaware, B.A., 1983

Vermont Law School, (magna cum laude), 1988

Staff, Vermont Law Review, 1986-1987;
Editor, 1987-1988

Bar Admissions
State of Vermont, 1989

Professional Organizations:
Vermont Bar Association
American Bar Association

Industry Organizations
VT Captive Ins. Association,(VCIA)
Legislative Committee

Int’l Ctr for Captive Ins.
Curriculum Committee

Author, “Cybertrage and Reverse Hijacking: The Uncertain State of Trademark Law as Applied to
Internet Domain Names”,
23 Vermont Bar Journal 46, December 1997

Author, “Report of the General Accountability Office on Risk Retention Groups,”
September 2005


Risk Retention Groups