Alabama Captive Insurance Association Holds Annual Conference

The Alabama Captive Insurance Association (ACIA) held its annual conference this past week at the Grand Hotel Golf Resort & Spa in Point Clear, Alabama.

The year's conference included a "Why Alabama" session detailing the benefits of selecting Alabama as a captive insurance domicile. Deputy Commissioner Mark Fowler and Economic and Governmental Relations Expert Josh Blades offered thoughts on Alabama's friendly environment for captive insurance companies and risk retention groups (RRGs).

Mr. Fowler and Mr. Blades also offered an economic development update for Alabama and discussed the importance of the relationship between captive insurance professional's and the Alabama Department of Insurance, along with the captive insurance industry's strong relationship with the state's elected officials to the success of the domicile.

Other topics discussed during conference sessions included the following.

• An update from the lawyers involved in the CIC v. IRS case
• Economic and investment updates
• An overview of Alabama's new comprehensive legislation
• The rise of RRGs in Alabama
• Alabama regulators discussing trends they're seeing within the industry
• Cyber security and captives
• The 2022 World Games being held in Birmingham, Alabama, and the insurance component of hosting the games

The 2021 ACIA annual conference also showcased the ACIA's internship program, "Risky Business," with a panel including program founder Justin Law and former interns. The students discussed how they became aware of the program, recapped their experiences, and offered their takeaways from being involved in the captive insurance industry.