North Carolina Captive Group Forms Political Action Committee

The North Carolina Captive Insurance Association (NCCIA) has named Leon Rives, Jeremy Colombik, and Alex Webb as the initial board of directors of NC Captive PAC, the association's new political action committee.

"The captive insurance concept has become much better known over the past few years in North Carolina and the General Assembly," Mr. Colombik, president of Management Services International, said. "There is an expectation that captive insurance entities should participate more fully in the political process."

Mr. Colombik suggested that creating a political action committee (PAC) provides the NCCIA a more efficient way to participate in that political process. "As a small trade association with a majority of our members residing out of state, the most effective way for us to participate in the process is through a PAC rather than individual contributions," he said.

The initial goal for the new NC Captive PAC will be to raise approximately $15,000 to $20,000 over the next 2 years. The PAC will only contribute to candidates for state-level offices in North Carolina elections.

"It is no secret that it takes money to run for and hold elective office at any level of government," Mr. Colombik said. "The level of government that most impacts the industry is at the state level. That makes members running for or for re-election to the legislature of the most interest to us in terms of participating in the process financially."

In a statement, Diana Hardy, the outgoing chair of the NCCIA, expressed confidence in the new PAC board members' ability to meet the fundraising goals. "As past chairs of the association, they are familiar with the membership, and I know from personal experience they're not afraid to ask for a buck," she said.

Additional members will likely be added to the PAC's board going forward.

The NCCIA will roll out its new PAC on May 8 during its annual conference.

"We are excited about having a PAC," Mr. Colombik said. "We may be small, but we expect to be mighty!"