Nevada’s new captive association, the Nevada Captive Insurance Council (NCIC), has started work on 2021 activities in a bid to promote, protect, and enhance the state as a premier US captive domicile.
Although the NCIC was officially launched in early 2020, much of its activities were delayed due to the COVID-19 pandemic.
The Nevada Captive Insurance Association (NCIA) ceased in 2014, but a handful of captive industry leaders from Nevada continued to stay in contact with each other as well as the Nevada Division of Insurance (NDOI),” according to Josh Miller, CEO of KeyState Captive Management.
Miller was also recently elected as vice-president and board member of NCIC.
A year ago, under the leadership of Renea Louie, vice president at Pro Group Captive Management Services, a group of industry leaders convened with the goal of establishing a new association to promote and enhance Nevada’s captive insurance domicile.
NCIC’s goals include growing its membership with Nevada captive insurance companies, captive service providers, students and recent International Center for Captive Insurance Education (ICCIE) graduates, and government officials.
He notes: “We are particularly interested in growing membership beyond what is very typical for state captive associations where over 90 per cent of members are service providers. For this reason, we have offered significantly reduced membership fees for students and government officials.”
Miller explains that NCIC wants to support continuing education for its members with educational workshops and seminars and a formal partnership with ICCIE.
In addition, the new association wants to advocate and represent the captive industry with the NDOI and at the Nevada legislature.
NCIC also is keen to join the Western Region Captive Insurance conference to provide its members with an annual conference experience.
Commenting on the new association and his role, Miller says: “I was proud to join the NCIC as a board member and was subsequently elected as a vice president.”
“I know that the entire board of directors looks forward to building an organisation that benefits all of our members and helps to elevate Nevada as a premier US captive domicile,” he concludes.
You can find out more about NCIC here.
