The Oklahoma Insurance Department (OID) has appointed Donald Ashwood as captive coordinator, a position in which he will coordinate increased activity with captive insurers in Oklahoma.
Ashwood joined the OID in 2014 and most recently served as financial operations officer. Ashwood began his new role on Feb. 1.
“Captive insurance is a fast-growing and important part of Oklahoma’s economy,” Insurance Commissioner Glen Mulready noted in a media release.
Oklahoma now has 40 licensed captives, with three new licenses issued last year. A captive insurance company provides great flexibility to business owners who want to take control of their insurance programs. Captives exist to underwrite the risk of their owner(s) and affiliates.
The OID’s Captive Insurance Division has pledged to make customer service a top priority as it recruits new companies.
The OID is currently recruiting for a new director of the captive division.
Source: Oklahoma Insurance Department
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