International Center for Captive Insurance Education (ICCIE) training can be a solution to the “perennial challenge” of finding experienced and qualified captive regulators, according to Steve Kinion, director, Bureau of Captive and Financial Insurance Products, Delaware Insurance Department.
Speaking on the ‘political climate and the future of captives’ panel at the Captive Insurance Companies Association (CICA) 2019 conference, Kinion suggested that the proliferation of US captive domiciles, of which there are now nearly 40, was creating “strains in regulatory departments”.
He noted: “It is a perennial challenge to find regulators with captive insurance experience because it is a relatively new facet of the insurance industry.”
“In Delaware, we have attempted to address that with the ICCIE training designation.”
Kinion added that Utah and Tennessee also had ICCIE trained regulatory departments.
He added: “This is one way to address the issue of finding qualified captive regulators.”
“Qualified means experience captive regulators, who are in short supply, and need to be trained and able to address captive insurance because it has its own way of being regulated.”
