Captive insurance events in North Carolina and Texas have been scheduled for the end of 2013 and early 2014.
The North Carolina Captive Insurance Association (NCCIA), with the state’s department of insurance, will host a seminar at the Doubletree Brownstone Hotel in Raleigh on 10 December.
This seminar is designed to introduce interested companies to North Carolina’s new captive insurance law, which was approved in June, and regulations related to enforcement.
Speakers will include the North Carolina’s commissioner of insurance, Wayne Goodwin, department of insurance staff, legislators who were instrumental in passing of the new captive insurance legislation, and leaders of the NCCIA.
The Texas Captive Insurance Association (TCIA) meanwhile has confirmed a location for its first annual conference, which will run between 18 and 19 February 2014.
The conference will be held at the AT&T Executive Education & Conference Center in Austin. Regulators, officials and captive experts from around the US will speak on captive topics at the event.
The Texas Department of Insurance began accepting applications from captive insurance companies earlier this month. The state is targeting captives that want to relocate to Texas.
Its newly enacted captive law only provides for the formation of pure captives, although TCIA executive director Jim Arnold recently said that the association would like to see the legislation extended to other forms of captives.
He added: “Republican John Smithee, the House of Representatives sponsor, who is very well respected and the chairman of the insurance committee, felt that we needed to start slowly. Although most other states already license captives, he wanted to make sure that we didn’t expand the opportunities for captives without fully understanding how they would work and how they would be regulated, and I respect that. It is all a part of the process.”
“In the next session, we are hoping to extend the legislation. We also think we are going to receive an interim hearing in the Senate on the possibility of expansion because the sponsor supported the more expansive legislation.”
