Tennessee celebrates five successful years
Since Tennessee Governor Bill Haslam signed a law to rewrite captive legislation, the state's captive insurance market has seen a boost in growth and an increase in state revenue, according to Kevin Doherty, partner at Nelson Mullins.
Doherty, also president of the Tennessee Captive Insurance Association, revealed that the state has now more than exceeded its goals.
As of mid-June, Tennessee had licensed 133 captive insurance companies and 321 cell companies.
Doherty said: “With this year's revisions to the 2011 legislation, Tennessee continues to enable corporations and groups to take financial control and manage risks by underwriting their own insurance.”
