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Tennessee appoints new captive insurance department director

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NASHVILLE, Tenn.—The Tennessee Department of Commerce and Insurance has appointed Michael A. Corbett director of captive insurance in the department's insurance division.

Mr. Corbett's hiring continues the process of rejuvenating the Tennessee domicile that began with the May passage of legislation that Gov. Bill Haslam had promoted updating the state's captive law.

It also follows Insurance Commissioner Julie McPeak's approval of the state's first captive license since the law was updated in September for Park View Insurance Co., a pure captive formed by Nashville, Tenn.-based hospital and health system operator HCA Inc.

Prior to joining the Tennessee department, Mr. Corbett worked as a financial adviser and corporate stock benefit consultant specializing in captive insurance investment management for domestic and international captive insurance companies.