North Carolina Department of Insurance Announces Active Captive Management as an Approved Captive Manager

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North Carolina's Captive Insurance Act went into effect in late 2013 and Active Captive Management was one of the first approved captive managers.

North Carolina Department of Insurance Names Active Captive Management as a Captive Manager

North Carolina

"With the improvements made to the domicile's captive regulations, we are excited to see North Carolina expand and be recognized as a credible captive insurance domicile of choice," adds ACM Founder Fred Turner.

Active Captive Management (ACM) continues to increase its onshore presence in 2014 with its approval in North Carolina. Accompanying North Carolina, the firm has also been approved as a captive insurance manager in the state of Oklahoma this year. ACM is an approved captive manager in eighteen (18) domestic and three (3) offshore domiciles.

North Carolina's Captive Insurance Act went into effect in late 2013 and ACM was one of the first approved captive managers in a state that welcomes new captives.

"North Carolina's regulations and requirements have proven very attractive to businesses and we are thrilled to provide the risk management and turnkey solutions for those forming captives in this emerging domicile," says ACM President Park Eddy.

The state's lowered cost of operation and the efficient licensing process are among its many attractions for prospective captives. One of the nation's largest convenience store chains, The Pantry, Inc., formed the state's first captive insurer, Cellarium Insurance Company, Inc., earlier this year.*

Furthermore, new statutes were included this month to the N.C. Captive Insurance Act, which will increase competition with other onshore domiciles, offer more pliancy to the insurance commissioner in captive regulation and allow for the formation of other types of captives in North Carolina.**

"With the improvements made to the domicile's captive regulations, we are excited to see North Carolina expand and be recognized as a credible captive insurance domicile of choice," adds ACM Founder Fred Turner.

For more information on North Carolina's captive environment visit http://www.nccia.org/.

About Active Captive Management

Active Captive Management (ACM) was established in 2005 and handles the needs of a wide range of companies in the design, development and implementation of alternative risk transfer solutions. ACM offers comprehensive management services encompassing insurance policy underwriting and administration, claims processing, company accounting and captive regulatory compliance management. ACM is an approved captive manager in eighteen (18) domestic and three (3) offshore domiciles. For more information, visit http://www.activecaptive.com

Links For More Information About Active Captive Management:
Better Business Bureau
Active Captive Managements Founder and Visionary, Frederick E. Turner is Featured in Captive Insurance Times August 2014 Publication

*Convenience Store Products, CSPnet.com, 3/21/2014
http://www.cspnet.com/category-news/services/articles/pantry-forms-captive-insurer

**Improved Captive Insurance Law to Benefit North Carolina, NCDOI.com, 7/08/2014 http://www.ncdoi.com/media/news2/year/2014/070814.asp

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Michael C. McKahan
@ActiveCaptive
since: 03/2014
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