The International Centre for Captive Insurance Education (ICCIE) recognised the Oklahoma Insurance Department (OID) as an ICCIE trained organisation.
It was announced during the 2024 Western Region Captive Insurance Conference (WRCIC) in Tulsa, Oklahoma, further signifying the agency’s commitment to making the state a desired domicile for captive insurance companies and service providers, according to the OID.
Oklahoma Insurance Commissioner Glen Mulready says: “Being an ICCIE trained organisation reaffirms our team’s dedication to providing quality service to our thriving captive industry.”
According to the centre, to qualify as an ICCIE trained organisation at least 20 per cent of the captive professionals in that organisation must hold the designation of Associate in Captive Insurance (ACI) in good standing.
Furthermore, at least 30 per cent of the company’s captive professionals must either be ACIs, Certificate in Captive Insurance (CCI) holders, or currently enrolled in the ACI or CCI programme.
Steve Kinion, director of the OID’s Captive Insurance division, comments: "The OID is one of only five captive insurance domiciles in the world to be ICCIE trained.
“This designation reflects Oklahoma's professional regulatory environment."
During 2023, OID issued 20 new captive licences, representing a 31 per cent net increase in licensed captive insurers, bringing the total number of captive insurers in the state to 59.
