NU Online News Service, Feb. 7, 1:00 p.m. EST
Tennessee is adding staff to its captive insurance department and actively promoting itself as a domicile, which is paying off with registrations and building interest, according to the state's captive director.
“We've gone from two active captives to four—so your straight math is, we went up 100 percent,” jokes Michael A. Corbett, director of captive insurance since October 2011. With all seriousness, he adds that interest in new captive formations has been strong in 2012. There has been much interest and a new formation since the first of the year, bringing the total to five.
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