White Resigns As D.C. Captive Head

By Caroline McDonald

NU Online News Service, Sept. 3, 1:10 p.m.EDT?The District of Columbia Department of Insurance,Securities and Banking today announced the resignation of WilliamP. White as director of the captive insurance program for theDistrict of Columbia.[@@]

Mr. White, who the department said is leaving for a privatesector position, will vacate his post as of Oct. 1.

Arthur Perchetz, chairman of the Captive Insurance Council ofthe District of Columbia told National Underwriter thatMr. White has "done a wonderful job of bringing us up to thislevel."

The District of Columbia, which had five licensed captiveinsurers when Mr. White was hired in June 2003, now has 33 licensedcaptives with another seven in various stages of the applicationprocess, according to the department.

"As in any business, people move on for their own reasons andwe're looking at this as an opportunity to actually find someone tobring us up to that next level," Mr. Perchetz said.

He explained that Lawrence H. Mirel, commissioner of thedepartment, "through Mr. White's leadership, has formed a Bureau ofAlternative Risk Transfer." The bureau, he said, "has severalspaces that need to be filled with top-notch people."

Mr. Perchetz said a director will be sought with a "broadcaptive background and national stature."

The next level, he said, involves "expanding the District," andmaking sure the infrastructure is in place "to support the hugeinflux of captives and applications and new companies we'vehad."

A new director, he added, would also "leverage on our new law,which will be one of the most creative laws in the country, if notthe most creative. We think we will attract significant additionalbusiness."

In the meantime, he noted, department counsel, Dana Sheppardwill serve as acting director.

Mr. Mirel said in a statement that Mr. White "has made theDistrict of Columbia one of the top American domiciles for captiveinsurers."

He added that "We are very grateful for his service and wish himwell in his new endeavor."

Having a state-of-the-art captive insurance law, and a"first-rate, knowledgeable person like Bill White in charge, hascatapulted the District to the forefront of on-shore captivejurisdictions," Mr. Mirel said. "Being the capital of the UnitedStates also helped."

Mr. Mirel also announced he will appoint a search advisorycommittee including Mr. Perschetz of Muldoon, Murphy, Faucette, andAgugguia; Robert "Skip" Myers of Morris, Manning and Martin; andGeorge Pantos, president of CIC-DC, to help find new talent to leadthe District's captive insurance program.

For more information, visit www.disb.dc.gov.