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President’s Message
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I was very honored to be selected as the incoming president of the Arizona Captive Insurance Association. Following Marc Lapointe, who did a fantastic job in promoting Arizona as a viable captive jurisdiction, my goal in conjunction with the board is to continue that work.
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Latest News from the AzDOI
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At this writing (May 24th) we have licensed two new captives during the month of May. I fully expect to be granting licenses to at least 4 more before the end of the month. This would bring us to a total of 50 licensed with 45 of them still considered active. In addition to the four that I expect to be approved within the next couple of weeks, we have applications for 6 more.
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AzCIA Legislative Report
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Governor Janet Napolitano signed Arizona House Bill 2600 into law on April 20, 2005, thereby enacting legislation developed by the Arizona Captive Insurance Association, working closely with the Arizona Director of Insurance, to enhance Arizona’s captive law. HB2600 was sponsored by Representative Ted Carpenter, Chair of the House Financial Institutions and Insurance Committee. It was very well supported by the entire Legislature. It passed the Arizona House of Representatives by a vote of 49-6, and passed the Senate by a vote of 27-3. It will take effect on August 12, 2005.
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AzCIA 2005 Conference Report
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AzCIA held its Second Annual Conference at the Carefree Resort & Villas in Carefree, May 4 to 6. This was an exciting event, and gratifying to the Association as attendance was well beyond expectations.
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AzCIA Membership Report
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First, I’d like to welcome our two new Membership Committee members for this year. They are the new AzCIA Board member Ann Wick of AIG Insurance Management and Gary Ricker of Essential Services & Programs.
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