Mr. Maglaras is the principal of Michael Maglaras & Company, an international insurance consulting firm specializing in providing insurance program consulting advice, including self-insurance and captive insurance company feasibility testing and other alternatives to traditional insurance programs for a variety of healthcare providers and other businesses. Mr. Maglaras has had more than 35 years of healthcare liability insurance and consulting experience. He has been involved in the formation of more than 145 captive insurance companies, including four of the original companies formed after the passage of the federal Liability Risk Retention Act of 1986, as well as four insurers formed by state medical societies in the 1980s and 1990s as a result of the medical professional liability crisis in availability and affordability. He serves as an insurance consultant and risk management adviser to integrated healthcare delivery systems, physicians groups, and other healthcare providers nationally. Mr. Maglaras is a frequent author and lecturer on the subjects of risk financing, risk management, and healthcare liability insurance issues. He serves as an independent director on the boards of a number of captive insurance companies in various domiciles.
Mr. McDonald serves as director of captives for the South Carolina Department of Insurance—Captive Division. He was previously the manager for products and content related to captives and risk financing for IRMI.
Prior to joining IRMI in 2020, Mr. McDonald served as an insurance regulator in South Carolina for 12 years (2008–2020). His role and responsibilities at the South Carolina Department of Insurance (SCDOI) focused on issues surrounding the coastal property insurance market, while focusing on attracting and licensing captive insurance companies and marketing South Carolina as a premier onshore domicile. He lead/facilitated the licensing process for companies creating captives in the state, actively coordinating with captive managers, actuaries, and other service providers to assist their efforts in collecting and compiling the applicable information and documentation necessary for captive formation, while contributing in the decision-making process when determining licensure for viable captive insurance companies. He serves on the Captive Insurance Companies Association NEXTGen Committee and is actively involved in various efforts to promote the captive industry.
He holds a bachelor of arts degree with a double major in philosophy and religious studies and a master of arts degree in religious studies from the University of South Carolina and is currently pursuing the Certified Property Casualty Underwriter designation. Prior to completing his graduate studies and joining the SCDOI, Mr. McDonald worked for the South Carolina Senate and the University of South Carolina.
Mr. Noga serves as director of captives at the South Carolina Department of Insurance. He brings more than 30 years of experience in the insurance industry, along with a master of laws degree from the University of Connecticut and a juris doctor from the Quinnipiac University School of Law.
Mr. Noga previously served as senior vice president and general counsel at GuideOne Insurance Group.
Mr. Basnett is audits director, traditional company analysis, at South Carolina Department of Insurance. He holds the Associate in Risk Management (ARM), Professional in Insurance Regulation (PIR), and Certified Insurance Service Representative (CISR) designations.