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Corporate Regulation and Governance in Captives

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Delve into captive insurance governance matters including board attributes, board structure, and board accountability. With 30 years of insurance experience from the auditing, regulatory, and management side, Derick White, managing director of corporate governance and regulation for Strategic Risk Solutions, offers key insights into captive board governance.

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2 Former Insurance Commissioners To Support eCaptiv Progression

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April 04, 2019

John Doak, former Oklahoma insurance commissioner, and Wayne Goodwin, former North Carolina insurance commissioner, have been appointed to Energi's board of directors to bolster the organization's progression into providing captive insurance programs through eCaptiv LLC. 

Energi has successfully launched two group captive programs for the energy industry through eCaptiv: the Vermont-domiciled eCaptiv PC1-IC and PC2-IC.

Mr. Doak was elected as the 12th Insurance Commissioner of Oklahoma and served from 2011 to 2019. He previously served in corporate positions at Marsh, Aon Risk Services, HNI Risk Services, and Ascension Insurance, where he was senior vice president of acquisitions. Mr. Doak is currently the executive vice president of regulatory affairs and innovation and business development at Insurance Care Direct.

Mr. Goodwin is the former North Carolina insurance commissioner and insurance regulator, a four-term state legislator, and small business owner. After serving two terms, he returned to the private sector, creating his own insurance regulatory consulting firm, and has joined various boards of directors for private businesses.

"We are pleased to have John and Wayne join the Board of Directors for Energi," said Brian McCarthy, CEO of Energi. "As former insurance commissioners, both bring a wealth of experience and expertise in the insurance industry and will be tremendous assets to the company."

Through eCaptive, Energi offers insurance and risk solutions to energy-related industries in fuel distribution, energy transport, energy construction, utilities, renewable energy, and agricultural cooperatives.

eCaptiv is funded through client participation and provides auto liability, general liability, excess liability, and workers compensation coverages and excess liability with significant excess reinsurance above captive retentions.

The company is in the process of establishing regional and industry-specific captives focused on using risk management technologies.

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