NU Online News Service, June 11, 4:33 p.m. EDT
William P. White, who helped establish and build the Delaware State captive insurance operation, will be leaving his post at the end of July, National Underwriter has learned.
Mr. White, captive administrator for Delaware since 2006, told NU Online he gave notice April 1, but the department of insurance has yet to issue a release to that effect. He said it is in the best interest of the captive managers and organizations that may be interested in forming a captive, to know he will be leaving.
The departing official said he is not interested in another director position and will be pursuing private consulting work through his company, Prism Strategies LLC, or a larger consulting firm.
His notice was given three months after Karen Weldin Stewart became Delaware Department of Insurance commissioner.
Elliott Jacobson, chief of staff for the Delaware Department of Insurance, said the department "Isn't ready to comment on Bill White, because we're still in discussions with him."
Delaware had a big year in 2008, licensing 22 captives, compared to 10 in 2007
"We were at 40 captives at the end of 2008," Mr. White said in a March interview, "Not bad, considering I got here in 2006."
Mr. White said that budgetary constraints in the state have curtailed travel, meaning he was not able to attend two major conferences this year, the Captive Insurance Companies Association and the Risk and Insurance Management Society conferences in March and April. He also has not been able to add staff, he said.
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