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TCIA Update on the Fast-Approaching Tennessee Captive Conference

Tennessee Captive 2018 Conference 480x377
June 11, 2018

Last week, caught up with the Tennessee Captive Insurance Association (TCIA) to discuss the 8th annual captive conference, happening June 19–20, 2018, at The Westin, Nashville, Tennessee. readers can still register online up until the day of the conference.

The 8th annual Tennessee Captive Conference is fast approaching; please tell readers about the history of the Tennessee Captive Conference and how it has built momentum over the past 8 years.

The TCIA was formed back in 2011 after the new captive legislation was signed by the governor. We quickly put together the first conference that winter. With relevant educational sessions and targeted networking opportunities, our annual conference has come to be the must-attend event for those doing, or wanting to do business, in the captive insurance industry within the Tennessee domicile.

What are some of the current Tennessee captive industry facts, figures, and statistics that are the most impressive? 

At month-end May 2018, Tennessee has established 597 risk-bearing entities, made up of 171 licensed captives and 426 cell companies. The total premiums for calendar 2018 were $1.2 billion. The second year in a row that premiums have broken the $1 billion mark.

From an economic development standpoint, calendar-year 2017 was very impressive. The total economic impact of Tennessee's captive insurance industry was over $862,000,000, representing a 25 percent increase over calendar 2017. This figure includes the following.

  • Total direct capital investment exceeding $831,000,000, a 25 percent increase over 2016

  • Total direct and indirect spending exceeding $31,000,000, a 15 percent increase over 2016

Describe the captive regulatory environment in Tennessee and what makes it unique. 

The regulatory environment in Tennessee is second to none. The regulators in the captive section, led by the director of Captive Insurance, Michael Corbett, want to regulate to the "yes." Coming from the private sector, Mr. Corbett knows what it takes to make a business successful, and he, along with his team, has taken that approach to the state government.

What makes the Tennessee Captive Conference stand out from other industry conferences?

We can't speak to other industry events, but TCIA's conference has developed a reputation as a must-attend event given that attendees regularly come away with useful information and contacts that help them do captive business in Tennessee. And it's important to note that Tennessee is still a fast-growing domicile, which is somewhat unique in the current marketplace.

The educational sessions offer an array of interesting topics ranging from collateral to exams to catastrophe bonds to emerging risks. Tell us more about what attendees can expect from this year's sessions?

Our attendees can expect some of the most cutting-edge educational sessions in the industry. Our conference committee, chaired by Jennifer Holliday of Franklin Synergy Bank, has worked tirelessly to shape the educational content to be relevant not only to the Tennessee domicile but to the captive industry throughout the United States as a whole. This is demonstrated by having a panel discussion focused on recently enacted tax reform legislation. SIIA lobbyist Ryan Work will also update attendees on other legislative/regulatory developments affecting the self-insurance/captive insurance marketplace. TCIA President Kevin Doherty will update the attendees on changes in Tennessee law, alongside Mr. Work's discussion of federal law.

What advice do you have for captive owner, risk manager, and insurance professional conference attendees who are new to the captive insurance industry?

Attend the conference, network with other industry professionals, and, most of all, ask as many questions as possible in order to create the best, most effective, captive insurance company possible.

What spells "success" in terms of expected outcomes for this year's Tennessee's Captive Conference? 

Success means that our attendees walk away with knowledge, ideas, and contacts that they did not have before they walked into TCIA's event.

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