Kait Chase
Risk retention group manager
North Carolina Department of Insurance
Personal bio: I’m a Pennsylvania native, having relocated to North Carolina five years ago. I love the warmer weather, as I’m able to spend more of the year outside without freezing – Raleigh is the perfect midpoint to beautiful beaches and the mountains. When I’m not spending time outside, I love to read and spoil my dog.
Professional profile: I graduated from Wilkes University with a Bachelor of Science in Accounting. Prior to working at the North Carolina Department of Insurance (NCDOI), I worked solely in public accounting, providing audit services to all types of entities from non-profits, governments, to both private and public companies.
How did you end up in the captive industry?
As cliche as it sounds, I feel like the industry found me. As I was transitioning out of public accounting, my first role at the DOI was within the examination division, where my primary role was to assist with regulatory examinations of insurers. In addition, I was to aid with the analysis of the newly licensed risk retention groups. As the number of risk retention groups licensed in North Carolina grew, my focus shifted, and I became able to focus solely on captives and found my place at the DOI and within the captive industry.
What has been your highlight in the captive industry so far?
So far my highlight has been the licensing of my f irst North Carolina risk retention group for which I was involved with the application from start to f inish. Seeing the company grow from an idea to a fully formed insurer that is providing needed insurance to its policyholders has helped solidify why I enjoy this industry.
What/who have been your influences in the captive industry?
I feel very lucky to have started my captive career at the DOI as I’ve had phenomenal influences internally within the captive insurance companies division. I’ve based my career off of my colleagues, who consistently exhibit expansive technical knowledge, responsiveness, and dedication to the captive industry. Additionally, I find it difficult to select just one or two influences among the service providers and individuals I’ve worked within the industry, as I’ve worked with very committed individuals who continue to strive to serve the captive industry and make it a better industry as a whole.
What is your impression of the industry?
The captive industry is extremely interesting due to how quickly it evolves and adapts to changes. It was an industry formed to respond to a crisis and has shown itself to be resilient time and time again.
What are your aspirations for your career in the captive industry?
As the captive industry offers so much to learn, I’d like to continue learning and evolving, along with the industry, in order to best serve it.
What advice do you have for someone considering a role in the industry?
The first thing I can think of is from my personal experience. Having come to the captive industry with little prior captive knowledge, initially, I was hesitant; however, it was my most rewarding career move. So my only piece of advice would be if someone is considering a role in the industry, do it.
Debbie Walker, senior deputy commissioner, North Carolina Department of Insurance “Kait is a key member of our captive regulatory team at the NCDOI. As our risk retention group analysis manager, Kait oversees the licensing and ongoing regulation of North Carolina-licensed risk retention groups. Kait possesses strong technical skills, which she developed through her prior experience as an auditor and subsequently, as an NCDOI financial examiner, before taking on her current regulatory role. Additionally, she is a self-starter, who excels due to her personal attributes and abilities including judgement and decision-making skills, initiative, and an independent work ethic. Kait is an asset to the NCDOI, and we are very fortunate to have her as a manager and member of the captive regulatory team. ”
