Delaware Captive Insurance Association expands board

At a recent meeting of the Board of Directors of the Delaware Captive Insurance Association, the Board acted to further it’s stated mission to “serve as the unified voice of the captive insurance industry in Delaware and to support the development and growth of the industry through marketing, networking, education and legislative initiatives.”

Among the actions taken by the Board was the expansion of Board membership from nine Directors to thirteen. The expanded Board membership is now more reflective of the growth Delaware has experienced with respect to captive owners who have chosen to domicile their programs in the State and the captive managers who oversee those programs.

The Board now includes the following professionals:

John Capasso, Captive Planning Associates, LLC

Peter Cavanaugh, Nuclear Electric Insurance, Ltd.

Hardy Drane, Esq., Potter Anderson & Corroon, LLP

Richard Facciolo, Esq.,

Richards, Layton & Finger, P.A.

Neil Glassman, Esq., Bayard, P.A.

I. David Gordon, I. David Gordon Associates, Inc.

Legare Gresham, FCAS, MAAA, Bartlett Actuarial Group

Richard Klumpp, JD, CPA, Wilmington Trust SP Services, Inc.

James Landis, Intuitive Captive Solutions, LLC

Jeffrey Simpson, Esq., The Stewart Law Firm

Marc Smith, CPA, Johnson & Lambert

Robert Symonds, Esq., Stevens & Lee, P.C.

Michael Teichman, Esq., Parkowski, Guerke & Swayze, P.A.

DCIA Moves to Single Class of Members

The Board also amended the Asociation’s by-laws in order to provide for a single class of membership by eliminating the “Founding Member” distinction. Founding Members had been recognized for their early support of DCIA in having provided significant initial funding. However, as the domicile has grown, it has become important to highlight Delaware’s openness to new participants. “Delaware welcomes all captive owners and service providers alike. There are many professionals in the captive community whose experience and knowledge could help Delaware continue to improve and grow. We want them to bring their captive business to Delaware and to take an active role in DCIA. The bigger and broader our association membership, the more successful our domicile will be,” said Richard Klump, President of the DCIA.

“We believe our recent actions will lend support to our efforts to increase membership as well as provide existing members with the assurance that we truly speak with a unified voice as expressed in our mission statement,”he said.