Doi licenses Ariz Ariz ‘first captive insurer
Director of Insurance Arizona Charles Cohen announced the release of Arizona, the first insurer Captive License effective August 20, 2002. It was issued Triad Commercial Captive Insurance Company, who is in possession of Grant Goodman. Triad, write commercial automobile, general liability and inland ports tarpaulins for marine research equipment and cement Rockland Stirling Bridge in both Goodman’s control.
“I am confident Triad trade registers is the kind of safe, sound, high quality captive insurance program, which typify Arizona captives. Goodman Grant is a success, with entrepreneurs serious commitment d ‘activity in Arizona, and I am pleased that his question, the first license of the company. I think the fact that our first Arizona in captivity less than two months after the law in force and severity of other applications, we had shows that Arizona is well positioned to develop a large residence in captivity, “said Cohen.
Representative Ted Carpenter, president of financial institutions and captive insurance companies Committee supported the insurance bill (Act 2001 leaves, HP 2116, Chapter 327). “The Captive Insurance Program, in my opinion, help to make it attractive Arizona insurance. Additional required by legislation to promote sustainable Arizona home for own consumption insurer,” said Zimmermann. “Businesses and professionals, see our program in captivity well suited for their insurance needs and competitiveness with other states, captive insurance companies laws.
“Our training Triad reflects the commitment to Arizona and creates and maintains more dollars into our economy. I am grateful that the Arizona legislature allows us in this endeavour, especially because we can now manage our business risks and benefits directly, “A said Goodman.
Richard Marshall, director of Captive Insurance Department of Insurance, said the ministry has received numerous requests since the new captive insurance law entered into force on 1 July. Several interested parties have visited the department to consider the possibility of establishing Arizona captive insurers.
He added, “Triad meets the criteria of the research division, an excellent business plan, a strong commitment to risk management, as it significant risk and are equally great.”
“The department of Arizona has been incredibly effective and proactive in working with us for licensing effort. I am convinced that Arizona, in a very short time, large companies captives’ liability insurance attractive to any company which envisages the establishment of an insurance venture in captivity, “said Mike deep depression law firm and Childers, Rockland, represented materials in their application licenses before the DOI.
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