DISB’s Associate Commissioner for Risk Finance Dana G. Sheppard was interviewed recently on the Ringler Radio show on the District’s growing captive insurance industry.

The District of Columbia is the sixth largest captive jurisdiction in the country with 76 licensed companies. On the show, Sheppard attributed this success primarily to four reasons. First, DISB has worked closely with the captive insurance industry—locally, nationally and internationally—to develop innovative captive insurance law that is flexible enough to meet various demands of captive owners and their consultants.

Second, DISB has developed a good reputation as a fair regulator that understands the needs of the captive insurance industry, and DISB’s role in the regulation of these unique insurance companies. Third, DISB and its local captive trade association—the Captive Insurance Council of the District of Columbia—have worked together in promoting the advantages of forming captives in the District by co-sponsoring and attending numerous captive insurance conferences and participating in educational outreach programs.

Finally, Washington, DC, is conveniently located and easily accessible by three airports and Amtrak, which makes the District very convenient and cost efficient for captive owners and consultants who need to visit the domicile. All these contributed to the District’s success in attracting captives since DISB began regulating the industry in 2000.

Besides the District’s success, Sheppard’s discussion on the radio program on November 14 delved into the advantages of forming a captive in the District, and the basics of the growing industry, where Sheppard defined captives, discussed what’s new in the marketplace and projections. DISB’s Risk Finance Bureau is responsible for regulating captive insurance companies and risk retention groups, as well as certified capital companies licensed in the District of Columbia. 

Sheppard also discussed the seven different types of captives formed specific to the District of Columbia—pure, agency, association, branch, rental, risk retention and segregated accounts. Find out more on DISB’s website at disb.dc.gov.

The Ringler Radio show is on the LegalTalkNetwork, which airs Internet radio programs for an audience of lawyers and the legal community nationwide.

The program is slated to air in its entirety in January. Visit its website at ringlerassociates.com or on the Legal Talk Network at legaltalknetwork.com.