Nevada Commissioner of Insurance Alice A. Molasky-Arman has appointed Cliff King as Nevada’s chief administrator of captive programs.
“Cliff is a natural match for this position, because he has been instrumental in successfully promoting Nevada as an attractive domicile for captive insurance companies. He has not only overseen the day-to-day operations of the program since 2003, but his knowledge of the industry, keen foresight and progressive viewpoints will ensure a continued success of Nevada’s captive industry,” remarked Molasky-Arman.
King joined the Division in 1998, as chief of the property and casualty section. Most recently, he held the position of Chief Insurance Assistant and was responsible for oversight of the property and casualty, life and health, licensing and captive sections, as well legislative issues. In his new role, King will be devoted to the captive program and work directly in concert with the commissioner.
“Cliff has played a key role on my executive team since joining the Division. He constantly demonstrates strong leadership and great ability concerning insurance issues and policy matters,” said Molasky-Arman. “His expertise on insurance is an invaluable asset, and I am pleased to have someone with his dedication and experience to manage the captive program. I am confident he will do an outstanding job.”
Since the captive law was passed in 1999, Nevada has licensed 62 captives. The 2005 legislature passed legislation (AB 338), signed into law by Governor Kenny C. Guinn, which expands the range of businesses authorized to form a captive in Nevada. A captive insurer is a form of self-insurance by which a company can insure all or part of its own or its affiliates’ risks.
Prior to joining the Division, King was involved in the private insurance sector since 1972. During this time, he held several top management positions with USF&G, Hartford Insurance Group and CIGNA, as well as insurance agencies. King holds a bachelors degree from the Arizona State University. He earned a CPCU (Chartered Property and Casualty Underwriter) designation in 1997 and an ARM (Associate in Risk Management) designation in 2004.
Topics Property Casualty Nevada
Was this article valuable?
Here are more articles you may enjoy.
The Future Is Near for Self-Driving Trucks on US Roads 
Travelers to Open Technology Office in Atlanta 
Berkshire’s ‘Most Important’ Biz Drives Q1 Results; GEICO Still Behind on Tech 
Fla. Regulators’ Effort to Remove Insurer Execs May Not Pass Constitutional Muster 
