NCCIA Reports Budget Stalemate Has No Direct Impact on Captives

The North Carolina Captive Insurance Association (NCCIA) reports that the ongoing state budget impasse is not expected to affect the captive insurance sector directly. According to the NCCIA's June newsletter, while the North Carolina General Assembly failed to agree on a new budget before the July 1 start of the fiscal year, the industry remains insulated from immediate effects.

Per the NCCIA, a continuing resolution will fund state operations at 2025 levels. This stopgap measure means no salary increases for state employees or teachers and requires agencies to absorb rising costs internally. Despite these broader implications, the NCCIA did not pursue amendments to the North Carolina Captive Insurance Act during this legislative session, and therefore, anticipates no operational disruption to captives.

Looking ahead, the association indicated plans to pursue changes to the Captive Act in 2026. In preparation, NCCIA will bring its lobbying efforts back in-house this fall. Zach Almond, who assumes the role of president and CEO in September, will lead this shift. Mr. Almond's former firm, Almond Miner Government Affairs, had managed the association's lobbying activities in recent years.

The NCCIA is also forming its 2026 annual conference steering committee. Monthly meetings will begin in September. Anna Quarum of WellRithms will chair the committee, which will support planning for next year's conference scheduled for August 23–26 in Charlotte. Members interested in participating should contact Ms. Quarum at (971) 277–3175 or Tom Adams at (910) 638–8272.