The Tennessee Department of Commerce and Insurance (TDCI) has appointed Daniel Clements as assistant director of the captive insurance section.
Clements has extensive experience in risk-focus examination and regulatory control functions in both the private and public sectors, having most recently served as director for regulatory, audit and internal controls at AIG/Fortitude Re.
In this role, he was responsible for leading the regulatory efforts for a third-party administrator that oversaw 4.5 million insurance policies, as well as managing departmental reporting, developing corrective action and control projects, and reviewing referrals for suspected fraudulent activity.
Before this, Clements held the position of financial audit lead analyst at Cigna Health, an insurance carrier.
Clements previously worked at TDCI between 2016 and 2020 as examiner in charge of examinations of insurance companies, where he became familiar with Tennessee’s captive insurance statutes.
Commenting on the appointment, TDCI assistant commissioner of insurance Bill Huddleston says: “Daniel’s knowledge, experience, and understanding of the captive insurance industry combined with his belief in Tennessee’s commitment to responsible regulation make him a natural fit as assistant director.
“I am confident that Daniel will play a crucial role in Tennessee's continued climb toward becoming the top domicile choice for captive insurance companies.”
Jonathan Habart, captive insurance director at TDCI, adds: “Daniel has the critical, real-world industry experience, leadership and expertise that will translate into solving regulatory challenges faced by captive insurance companies who may choose to establish a domicile in Tennessee.
“His extensive examinations background will assist our captive insurance team in creating efficient, effective exams that ensure accuracy and financial solvency. He will make Tennessee's captive insurance section among the best in the nation.”
