Ariz. To Retain 'Survivor' Captive Association

Richard Marshall, captive insurance administrator for the Phoenix-based Arizona Department of Insurance, said the two associations are hoping to become one by March of this year.

"There are deals going on right now between the both of them where there will be a survivor and the other will fold up its tent."

He said it's a "friendly situation," noting that the two organizations simply realized "that they would be better off unified, promoting the industry in Arizona," rather than speaking with "two different voices."

The two associations, he said, were formed in the state in 2001, "before we even had captives."

The new association will be named the Arizona Captive Insurance Association, which will be combined with the Arizona Captive Insurance Council.

He said the new association will work to attract new members, "because that's been at a standstill." It will also organize seminars and hold the domicile's first conference, which could take place in October or in January, 2004.

"I think people would be looking for an excuse to come to Arizona the last week of January and then dovetail into the Phoenix Open," he said.

The conference, he said, would most likely attract 50-100 attendees.

Mr. Marshall said potential association members include captive owners and service providers, both in the state and out of state. "There is a pretty good pool of people," he said. "We're getting interest on the part of captive managers from other states interested in setting up an operation in Arizona."

Among the six Arizona captives, he said, only one is for a business located in Arizona. The other five are from Michigan, Illinois, Minnesota and two are from Kansas.