TDCI Announces Habart as New Captive Insurance Section Assistant Director

Tennessee Continues Building World-Class Captive Insurance Team
Thursday, October 15, 2020 | 08:41am

NASHVILLE — The Tennessee Department of Commerce & Insurance (TDCI) proudly announces the promotion of Jonathan Habart to the role of Captive Insurance Section Assistant Director.

A TDCI team member since 2016, Habart recently served as a TDCI Captive Insurance Specialist which included highly detailed work monitoring, analyzing and examining the financial status and regulatory compliance of captive insurance companies, among other duties. Habart is a licensed Certified Public Accountant (CPA) and has earned a designation as an Associate in Captive Insurance (ACI).

“Jonathan’s knowledge and experience with captive insurance companies make him a natural fit for this promotion to the role of Assistant Director of the Captive Insurance Section,” said TDCI Assistant Commissioner of Insurance Rachel Jrade-Rice. “I am confident that Jonathan will be a key contributor to our Captive Insurance team in his new leadership role as we continue Tennessee’s upward trajectory to the top domicile choice for captive insurance companies.”

Captive insurance is an option for companies to self-insure certain aspects of their business. Currently, Tennessee ranks 12th out of 78 worldwide captive domiciles and ranks 7th within the United States. The captive insurance sector has an estimated economic impact in Tennessee of $31 million in direct annual spending and employs more than 100 full-time professionals. Tennessee captives’ economic impact includes $16 million in revenue since inception, total premium deposits of $6.5 billion, and $3.1 million in annual taxes and fees.

"Jonathan’s experience in the insurance division, his exemplary leadership skills and team approach will be invaluable to us in his new role and will contribute significantly to our goal of taking the captive division to the next level,” said Captive Insurance Section Director Belinda Fortman “We have an immensely talented team who will continue growing Tennessee’s success.”

Habart has been employed by the State of Tennessee since 2014 when he worked as an accountant for the Tennessee Department of Finance & Administration. A graduate of Middle Tennessee State University where he earned a Bachelor’s of Business Administration, Habart lives in Springfield, Tenn. His previous experience included working for Gaylord Opryland Resort and Convention Center.

“I am thankful and thrilled by the opportunity to help Tennessee become the premier domicile in the U.S. for captive insurance companies,” Habart said. “Commissioner Mainda and Director Fortman’s confidence in me is empowering. I will work tirelessly in this role to help spur Tennessee to greater growth while ensuring a best-in-class regulatory environment.”

A high resolution photo of Jonathan Habart is available here.