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OFFICIAL NEWSLETTER OF NCCIA

VOLUME 6; NUMBER 7
September 2020

The NC General Assembly finally adjourned “Sine Die” on September 3, 2020

The NC General Assembly finally adjourned “Sine Die” on September 3, 2020. The next meeting of the legislature will occur on Wednesday, January 13, 2021 as set by statute. Known as the “Long Session” of the Legislature that begins on that date will have a new cast of members due to all House and Senate seats being up for election in November. In North Carolina both House and Senate members serve two-year terms, unlike the US Congress where Senators serve six years, while House members serve two year terms. At stake in the election is whether Republicans, who held control of both chambers in the session just ended, will be able to hold or add to their majorities next year. 

North Carolina is considered a swing state and races for President, US Senator and Council of State seats are considered tight. Of particular interest to the captive industry is the rematch for Commissioner of Insurance between incumbent Commissioner Mike Causey and former Commissioner Wayne Goodwin. The November issue of The Newsletter will provide a rundown of the results of the November 3, 2020 election.
 

The US Supreme Court has agreed to hear oral arguments in the CIC Case at its December seating

The US Supreme Court has agreed to hear oral arguments in the CIC Case at its December seating. SCOTUS has not announced whether the court will hear cases scheduled for that date in December in its hearing room in the Supreme Court Building or whether the session will be held remotely as has been he case in recent months. Assuming the justices hear the case in person NCCIA will have individuals present to provide a verbal description of the hearing for the December Newsletter. The IRS has now filed its response to the various amicus briefs filed in the case including that signed onto and co-sponsored by NCCIA. Click the button below If you would like to read the IRS brief.

Thanks to Kevin Doherty, Dickinson Wright

READ CIC BRIEF

Pinnacle Financial Partners, of Nashville Tennessee has joined NCCIA

Pinnacle Financial Partners, of Nashville Tennessee has joined NCCIA as a member effective in September. The company is represented in NCCIA by Michael A. Corbett of Nashville, it’s Senior Vice President. Welcome Pinnacle Financial. We look forward to seeing you at the Annual Conference!

International Captive Review Has Shortlisted NC For Domicile of the Year In the U.S.

North Carolina has been shortlisted in the Domicile of the Year (Less than $5bn of Gross Written Premium) award category at this year’s International Captive Review US Awards. Voting for the awards concluded September 25th. All NCCIA members were notified of the nomination and North Carolina’s nomination.

Lea Riddle, (McGriff Insurance) Chair of the NCCIA said “North Carolina, after years of dramatic growth, support of our legislative leadership and an active membership in NCCIA from across the nation deserves the distinction of nomination and we believe ultimately selection. We look forward to learning the results of the voting process.”

VIEW THE SHORT LISTS

The NCCIA Annual Conference Committee Chaired by David Littlehale (Strategic Risk Solutions) Will Kick Off Work To Prepare The Program For The NCCIA 2021 Conference

During the month of October the NCCIA Annual Conference Planning Committee, Chaired by David Littlehale (Strategic Risk Solutions) will kick off work to prepare the program for the NCCIA 2021 Conference. The conference is scheduled for August 29 through September 1 at the Washington Duke Hotel on the Campus of Duke University in Durham, NC.

Concerning the program’s development Littlehale said “I urge members to give thought as to whether they would like to participate in the conference by making presentations. Please be on the lookout for a Request for Program Proposals to be made available in early November."

The Committee was pleased to note that the Alabama domicile was able to hold its annual conference in mid-September and looks forward to the North Carolina Conference going forward next fall.

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