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The Missouri Department of Insurance, Financial Institutions and Professional Registration on Wednesday said John Talley has been named as its new captive program manager.
He succeeds Maria Sheffield, who was the previous captive program manager, the Missouri insurance department said in a statement.
Mr. Talley most recently was chief of captive insurance operations for the New Jersey Department of Banking and Insurance, according to the statement. Prior to that, he worked with the Alaska Division of Insurance and the New Hampshire Insurance Department.
Mr. Talley will work with John Rehagen, the director of Missouri’s Division of Insurance Company and Captive Regulation and the state’s first captive program manager. He will be based in Jefferson City, Missouri.
Missouri began allowing captive formation in 2007 and now has 50 captives operating in the state, writing more than $5 billion in premium, the statement said.
The Vermont Captive Insurance Association is backing newly introduced federal legislation to expand coverages that can be written by risk retention groups.