BIRMINGHAM, AL – The Alabama Captive Insurance Association (ACIA) hosted the first in-person conference for the captive industry in 2020. Despite concerns of the pandemic, the ACIA had the largest attendance in the history of the Conference, with a total of 92 attendees.
This year’s annual conference highlighted a “Why Alabama” session that detailed the benefits of domiciling in the state. Norman Chandler, ACIA President, and Sean Duke, who leads the alternative risk department at the Alabama Department of Insurance, explained the friendly environment that is available in Alabama for captives as well as captive domicile statistics for this year.
A new aspect of this year’s conference included a legislative session where local state legislators were introduced to the association and the positive economic impact that the captive industry can have on Alabama.
Other topics that were discussed during conference sessions included:
● The IRS Amicus Brief and IRS v. Delaware DOI case presented by Cassie Bachman and
● Economic and investment updates
● COVID impact on claims
● The rise of RRGs in today’s environment
● The use of captives in healthcare
● Cyber security
● Implementing ethical practices in the captive industry
This year’s annual conference also showcased the success of ACIA’s pilot internship program, Risky Business. Student engagement, recruitment and overall networking were provided for the student attendees as well as catered topics introducing different aspects of the industry.
“We are extremely proud to have hosted a safe and innovative conference this past week,” Norman Chandler, President of ACIA, said. “Our attendees, speakers, staff, and venue staff all adhered to the safety protocols, and we were able to effectively implement innovative changes this year that were valuable to the attendees. This conference will set the precedence for our conferences moving forward and captive industry conferences as a whole.”