Hodgen Mainda Stepping Down as Tennessee Insurance Commissioner

Tennessee Department of Commerce and Insurance (TDCI) Commissioner Hodgen Mainda is stepping down from his position.

In his resignation letter to Tennessee Gov. Bill Lee, Mr. Mainda said that he is leaving to move to the private sector and to spend more time with his family.

Mr. Mainda's departure, set for November 13, 2020, comes just a little over a year after he assumed the position following the earlier resignation of predecessor Julie McPeak, who left after 8 years to join the law firm Greenberg Traurig, LLP, in Nashville. Ms. McPeak has since joined Root, Inc., the parent company of Root Insurance, as senior deputy general counsel.

Other recent Tennessee insurance regulatory changes include the June 2020 appointment of Belinda Fortman as the Captive Insurance Section director. Ms. Fortman, who succeeded Jennifer Stalvey, earlier was president of the Tennessee Captive Insurance Association and later led her own captive insurance management firm.

In addition, Joshua Clark, a veteran insurance executive, joined the TDCI in August 2020 as director of business development for the Insurance Division, where he is involved in attracting more captives to the state.

With 208 captives, Tennessee is one of the largest US captive domiciles, with significant captive growth continuing. So far this year, the state has licensed 14 new captives, up from 8 during the same period in 2019.