Commissioner McPeak to Headline Third Annual Captive Insurance Conference
NASHVILLE, TN – Commerce and Insurance Commissioner Julie Mix McPeak will be the headline speaker at the third annual captive insurance conference sponsored by the Tennessee Captive Insurance Association in Nashville, November 20 and 21. After a dynamite year, Tennessee is home to more than 20 captives and was recently nominated as “On-Shore Domicile of the Year” by Captive Review Magazine.
“Since rebooting the captive market in Tennessee, we have seen incredible growth as a domicile,” Tennessee Department of Commerce and Insurance (TDCI) Commissioner Julie Mix McPeak says.
“When Gov. Haslam signed the bill into law, Tennessee had two captives domiciled,” she says. “The support at all levels for a thriving captive insurance market in our state has truly paid off and together with our business, association, and government partners we are building a gold-standard onshore domicile.”
Part of the progress of the program can be attributed to TDCI’s partnership with private-sector professionals who help companies comply with Tennessee’s laws in the formation and retention of captives. Central to this partnership has been the Tennessee Captive Insurance Association (TCIA), which was created to promote the formation of captive insurance companies here and the compliance of applicants with state laws.
“Tennessee has enjoyed a high ranking of desirability for business owners looking to relocate, because of its prime location and trade routes,” Captive Insurance Section Director Michael Corbett says. “Working with an organization like the TCIA not only helps ensure that qualified applicants approach the department to form captives, but it also builds off of our state’s reputation for being committed to thriving businesses, job growth and market integrity.”
The Department of Commerce and Insurance works to protect consumers while ensuring fair competition for industries and professionals who do business in Tennessee. Follow us on Facebook, Twitter and YouTube for a daily dose of fire prevention tips, consumer affairs information and much more!