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Captive Insurance Association (DCIA) held its annual Fall Forum September 19-20,
2016 on the Wilmington riverfront. Attendees
included leading captive service providers, captive owners and Delaware’s captive regulators.
There was a degree of uncertainty among the participants due to Karen Weldin Steward, Insurance Commissioner for the past 8 years, being recently defeated by Trinidad Navarro in the Democratic primary election. Republican candidate Jeff Cragg is also running, and both candidates attended the conference.
Steve Kinion, Director
of the Bureau of Captive and Financial Insurance Products (the Bureau), led his
usual regulatory update session, commenting on Delaware’s development as a
captive domicile. There were no comments
directly addressing the uncertainty around any potential changes which might be
made by a new Insurance Commissioner.
of September 14th, Delaware has 1,055 active captives, 681 of which are series
captives. At about $360 Million,
captives represent 0.6% of Delaware’s GDP. For the first time in several years, new captive applications slowed at
year-end 2016: From January 1, 2013
through January 1, 2016, the total new application count was 114, 150, 160, and
128 annually. Additional intriguing
regulatory update session highlights include:
the Forum can be found online here.
DCIA 2016 Fall Forum provided great networking opportunities and educational
sessions, and we look forward to participating in future events.
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