The Delaware Department of Insurance has announced a planned leadership transition in response to the upcoming departure of Captive Bureau director Steve Kinion. The director position operates via contract, and a recent request for proposal process resulted in a new awardee. The Department will announce the awardee as soon as a contract is finalised, which the Department hopes will occur in the next few weeks. Kinion has served as director of the Bureau of Captive and Financial Insurance Products for the State of Delaware since 2009. Prior to this appointment, he was the senior advisor for regulatory policy for insurance commissioner Karen Weldin Stewart. Commissioner Navarro and the Bureau say they will continue to generate insurance solutions while reducing taxpayer burden, including planning for captive-based corporate directors and officers liability coverage. As of year-end 2021, the Bureau had 759 total active licenses. Commenting on the leadership transition, Trinidad Navarro, Delaware insurance commissioner, says: “Despite challenges, we have pursued some of the nation’s most effective captive innovation efforts, like our conditional licensing programme, and are set up for success in future endeavors as well. “This transition of leadership will continue our tradition of success, and we wish Steve Kinion the best in his future endeavors.”
