Distinguished Service Award and Outstanding Captive Award presented during the CICA International Conference celebrating leadership, innovation and impact in captive insurance.
MINNEAPOLIS, MN — March 9, 2026 — At its annual International Conference today, the Captive Insurance Companies Association (CICA) honored Ward Ching, Chief Client Officer, Global Risk Finance, Aon Commercial Risk, with the CICA 2026 Distinguished Service Award, and Hyatt, a global hospitality company, with the CICA 2026 Outstanding Captive Award.
The CICA Distinguished Service Award is presented annually, when appropriate, to a single individual or entity that has made a significant contribution to advancing the captive insurance industry.
Ward Ching, who has worked within and across the global risk finance and insurance industry since 1978, is a frequent author and speaker on Strategic and Enterprise Risk Management, the use of AI empowered analytics, and structured risk finance. He recently co-authored the book, Strategy and Choice, and is an adjunct Professor of Management in the Marshall Business School at the University of Southern California, teaching Insurance and Risk Management courses at the undergraduate business level.
Ward has been engaged extensively in the strategic use of captive insurance companies focused on integrating captives with corporate strategy, risk finance, reinsurance and alternative risk transfer. Having formed many captives, Ward was instrumental in the development of the State of Hawaii as a domicile, and was a core member of the ACE and XL design teams in the early 1980s.
“When I see the list of past recipients, I know this is an incredible honor,” said Ching. “Working at a University, I believe in equipping the next generation of captive leaders. I hope to encourage them by showing what impact they can make when you commit yourself to developing your skills and make intentional industry connections.”
The CICA Outstanding Captive Award is presented to a captive insurance company or risk retention group that has shown creative uses for a captive, been successful in managing the captive in terms of net results and usefulness to its owners, has prevailed over difficult times or situations and has gained acceptance, recognition, and a positive reputation among rating agencies, regulators and colleagues in the captive industry.
A purpose-driven organization, Hyatt has more than 1,500 properties across 83 countries, with a core belief in caring for people so they can be their best. Since establishing its captive in 2013, Hyatt has used it as a strategic tool to deliver best-in-class insurance solutions at the lowest possible cost. This award recognizes how Hyatt’s captive strategy supports that mission by helping care for its properties, colleagues, owners, and guests while navigating an increasingly complex risk landscape.
Originally intended to cover liability and property risks, Hyatt has broadened its captive’s scope over time, most notably by using it to back employee benefits programs. The company also partners with external experts for independent evaluations, ensuring that the captive operates at industry-leading standards and keeps pace with Hyatt’s evolving needs.
“Hyatt’s Global Risk Management team brings deep technical expertise, but more importantly, they bring a growth mindset and a cross-functional approach to collaboration,” said Jennifer Pack, Vice President of Global Risk Management at Hyatt. “This award reflects their commitment to thinking boldly and operating strategically every single day.”
The term “Hyatt” is used for convenience in this release to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
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