Michael Corbett is set to leave the Tennessee Department of Commerce and Insurance (TDCI) and will join Pinnacle Bank as senior vice president, effective 16 March.
Corbett, who worked as the director of TDCI’s captive insurance section since 2011, was recently named to the newly created director of business development of TDCI’s insurance division.
Prior to joining TDCI, Corbett developed an institutional financial consulting practice at a brokerage house that focused on captive insurance companies.
Corbett was also a member of the Vermont Captive Insurance Association’s (VCIA) finance committee and served as its chairman.
Commenting on his departure, Corbett said: “It has been my honour to serve the State of Tennessee in establishing the captive insurance market and making Tennessee a top tier domicile for the industry. I am now returning to the private sector to continue the work of promoting Tennessee as a gold standard domicile.”
He added: “I wish all my colleagues good luck and good fortune at the TDCI and I look forward to seeing many of them at industry events throughout the year. I leave the captive section with a deep and broad bench of very talented captive insurance company analysts and examiners led by two very talented captive regulatory and examination directors: Jennifer Stalvey, director and Cathy Gray, assistant director.”
Kevin Doherty, president of the Tennessee Captive Insurance Association (TCIA), said: “On behalf of the TCIA, we wish to congratulate Corbett on his many years of service within the TDCI and wish him much success in his new role. Tennessee captives would certainly not be where they are today without his hard work. We welcome his continued expertise as he transitions into the private sector.”