By caroline mcdonald

and Arthur D. Postal

Larry Mirel, Washington, D.C. insurance superintendent for thepast six years, will step down as of Sept. 30.

As head of the D.C. Department of Insurance, Securities andBanking, Mr. Mirel made the District competitive with Vermont andother U.S. and foreign domiciles in the chartering of captiveinsurers. The department has issued licenses to 53 captives since2001.

Mr. Mirel–who will join the Washington, D.C. law firm of WileyRein and Fielding, LLP on Oct. 1–said although he would "like tostay in this job forever, it doesn't work that way. I'm a politicalappointee, and the person who appointed me is probably not going torun again, so I really have to look out for the future."

Mr. Mirel, appointed superintendent by Mayor Anthony A. Williamsin July 1999, was instrumental in introducing a new "wild card"captive law similar to a banking law that considers arrangementshonored in other captive domiciles and gives the insurancecommissioner final say.

That law "certainly attracts a lot of attention," he said."Whether that is the definitive reason why people come here is hardto tell. Nobody has come to us and said we would like to dosomething that can be done in the Caymans, but they know that theycan."

Mr. Mirel has been active in the National Association ofInsurance Commissioners, where he chaired the Industry LiaisonCommittee, the International Regulatory Cooperation Working Group,and the Class Action Litigation Working Group, among otherassignments.

In related news, Mr. Mirel said Dana G. Sheppard is underconsideration for the post of captive director. Mr. Sheppard, whocurrently holds the job on an interim basis, has been "doing aterrific job," according to Mr. Mirel, who said "it is likely" hewill be chosen for the post.

Mr. Sheppard has worked as acting captive director since WilliamWhite left the post for the private sector 10 months ago. Beforemoving to the captive unit, he was assistant director in thecompliance division of the department's Risk Finance Bureau.

"The reason why I was dubious in the beginning is because [Mr.Sheppard] is an unknown factor in this field. Nobody knew who hewas or what he knew," Mr. Mirel told National Underwriter. "Butthat's changed–he's now very visible. He's out there and people arerelating to him, and he's shown me that he really knows how to do[the job]."

Larry Mirel led Washington's bold entry into the captive market,licensing 53 facilities since 2001