OFFICIAL NEWSLETTER OF NCCIA

VOLUME 7 NUMBER 4
April 2021

The 2021 NCCIA Annual Conference Will Be Held “in Person” At The Washington Duke Inn And Golf Club

(Southern Pines)…..NCCIA has announced that it’s Annual Conference will be held “in person” at the Washington Duke Inn and Golf Club beginning on August 30 thru September 1, 2021 in Durham North Carolina. To whet your appetite for attending, over the course of the next few months you will be seeing videos featuring speakers who will be presenting panels during the conference. Think how much fun it will be to actually walk up and ask a presenter a question after a session!

The annual golf tournament will be played on the Robert Trent Jones Sr. designed Duke University Golf Course, one of North Carolina’s finest.

In making the announcement Board Chair Lea Riddle said “We are so excited to have the opportunity to bring everyone together for this great meeting. We want to welcome everyone to the fastest growing captive and now fourth largest captive domicile in the United States.”

TAKE ADVANTAGE OF EARLY BIRD REGISTRATION AND HOTEL RESERVATION COMPLETE YOUR REGISTRATION TODAY.

BOOK YOUR ROOM

Sen. Todd Johnson (left) a Senate sponsor of SB 437 explains the bill to the Senate Finance Committee as committee Co-chair, Sen. Warren Daniel (right) chairs the meeting. Half of all state Senators serve on the committee.

SB 347 Gathered Speed As It Began Its Journey Through The North Carolina General Assembly

SB 347 gathered speed as it began its journey through the North Carolina General Assembly. On Tuesday, April 28 the bill was given a favorable report by the Senate Finance Committee and subsequently rereferred to the Rules Committee. Rules met on Thursday, April 29 and also gave the bill a favorable report clearing the way for action on the floor of the Senate. The bill will likely be debated on it’s second reading (all bills have three readings) on Tuesday, May 3rd, with third reading the following day.

Assuming passage in the Senate the bill will then be messengered to the House of Representatives where it will encounter a similar process. Passage in the Senate is considered likely. Votes in all three committees were in unanimous support of the bill.

Two funny moments have occurred during the hearings so far, the first in the Insurance committee when someone asked, “Just what is captive insurance?” and no one laughed. The second during the Rules Committee hearing when the presentation on the contents of the bill by Senator Johnson began to go on at length. Someone asked if perhaps he could “move it along a little?” He replied this was important stuff and they needed to hear about it. Someone then said the bill was “so much fun” we should send it to a sub committee and enjoy it a while longer. After the laughter died down the motion for a “favorable” report passed unanimously.

The Association’s Board of Directors will hold the Annual Meeting of the Association on Friday, May 14 at the Washington Duke Inn

This will be the first “in person” Board meeting in over a year due to the Covid pandemic. The Board will hear a number of reports on the association’s legislative activity, the Annual Conference Planning Committee and other matters. Up for election are three positions on the Board succeeding outgoing members Lea Riddle, Mickey Payseur and Wesley Deaton.

Officers for the 2021 – 2022 term will also be elected and take office during this meeting. Association President & CEO Tom Adams told the Newsletter. “This Board has been a great team and provided steady innovative leadership during this past year of the pandemic. Faced with multiple logistical and financial issues as the effects of the pandemic made themselves felt the Board did a great job of helping us weather the year and left us in great shape for the rest of 2021 and beyond.”

Adams further stated, “I particularly want to thank outgoing Chair Lea Riddle. Lea has been there for numerous calls, messages, meetings and trips to meet with legislators. I can’t speak highly enough of his commitment to the association and the captive insurance industry.” Lea was Chair of the association for nearly two years as we transitioned from holding the Annual meeting of the Board of Directors from August to May, longer than any other NCCIA President.

The Justices Of The United States Supreme Court Remain Mum Regarding Their Deliberations In The CIC Services V. Internal Revenue Case

The Justices of the United States Supreme Court remain mum on the outcome of their deliberations in the CIC Services v. Internal Revenue Case. The judges will now either hand down their decision in May or June. NCCIA plans extensive coverage of the decision both when it comes down and at the Annual Conference in August. NCCIA Government Affairs Chair Alex Webb and consultant Lane Brown are standing by to dissect the court’s opinion when it comes out.

Exhibit Spaces And Two Conference Sponsorships Available

There are only two sponsorship opportunities remaining for the Annual Conference, both are coffee breaks. Additionally there are several exhibit spaces available. If you are interested in either please email Diane Waltman using the button below.

EMAIL DIANE

Remember to Share This Newsletter With Your Colleagues

Forward

CALL 910.684.8379