North Carolina Captive Group's PAC Conducts Initial Fundraising

CAPTIVE PAC, the North Carolina Captive Insurance Association's (NCCIA) recently formed political action committee (PAC), raised more than $9,000 during a fundraiser held during the NCCIA's annual conference in May.

The initial goal for the new PAC is to raise approximately $15,000 to $20,000 over the next 2 years. The PAC will only contribute to candidates for state-level offices in North Carolina elections.

"The PAC is needed to show interest in legislators who have been willing to understand and support our industry," Leon Rives, the CAPTIVE PAC's chair, said in the NCCIA's May newsletter. "Since so many of our members are from outside of North Carolina, this will give them a convenient way to participate in the political process here."

Along with Mr. Rives, Jeremy Colombik and Alex Webb were named to the initial board of the CAPTIVE PAC, with plans to add additional members to the board going forward.

Earlier, Mr. Colombik noted that with captive insurance becoming more widely recognized in North Carolina and with members of the state's general assembly, there is an expectation that captive insurance entities should participate fully in the political process. Creating a PAC provides a more efficient way of doing so, he said.

"It is no secret that it takes money to run for and hold elective office at any level of government," Mr. Colombik said. "The level of government that most impacts the industry is at the state level. That makes members running for or for re-election to the legislature of the most interest to us in terms of participating in the process financially."