About Us

Purpose Captive and Risk was named very deliberately. Our mission is to really understand our clients and help them achieve the best risk management program for their companies. We need to understand what the purpose is for our clients. Do they want more customized coverage, do they want to lower costs, do they want to get coverage that they can’t get in the traditional markets, do they want to get tax advantages, do they want to diversify into the insurance business.

Through our knowledge of the captive insurance industry and through the knowledge we gain about our client’s companies, we see if there is a fit to use this alternative risk management strategy. We are educators in this little understood industry. Captive insurance isn’t right for every company, but for those that it fits, it can become a vast improvement over what a company is currently doing.

At Purpose Captive and Risk, we understand that risk management is more than just about insurance. Our team has started companies and we have run companies, so we come from a much bigger picture approach than most others in this field. Risk management can impact how competitive a company is, it can become an entirely new business, it can change behavior of the employees, it can give opportunities to senior management, etc. With all of these important potential benefits as well as all of the more known benefits, our clients can achieve them without any additions to their management team. Our team becomes our clients’ outsourced risk manager. We work with you and your key advisors to evaluate the feasibility of various risk management strategies and then ultimately implement and manage the programs.

Our Team

Barry Fay

Founder and Business Development Officer

Barry Fay is a seasoned business leader who has run companies and who has also consulted to many others. He brings a keen business mind to every engagement. Barry received his MBA from UCLA Anderson and his BBA from the University of Notre Dame. He earned his CPA while at KPMG.

Nick Kahrilas

Founder and Business Development Officer

Nick Kahrilas is a business visionary who has created multiple businesses in diverse industries. He understands what is important to the client and works for the most effective solution. Nick received his BA from UCLA.

Paul Vogelgesang

Director of Risk Management and Captive Services

For 9 years, Paul was the Chief Risk Officer for a $2.2B family office in Newport Beach, CA. He started and maintained multiple captives and the placement of over 265 insurance policies for 35 LLC’s.

 

Prior to this position, Paul was the Sr. Director of Risk Management for a $1B Commercial Real Estate firm & Developer in California. He managed 100 insurance policies and formed a Hawaii captive to manage the risk associated with this corporation. In 2008 and 2010 Paul was nationally recognized for his risk management innovation by winning the Risk & Insurance Magazine Innovator of the Year award.

 

For seven years, Mr. Vogelgesang was a General Underwriter at both Royal/SunAlliance and AIG Insurance companies where he specialized in high risk commercial accounts. He worked for 5 years as an Insurance Broker in California and continues to remain licensed as a Property & Casualty Broker. He also maintains an Environmental license in California for Site Assessments and Remediation Consulting.

 

Mr. Vogelgesang has two degrees from Indiana University-Bloomington and a Master’s Degree in Management (Finance) from Webster University-St. Louis.