North Carolina Captive Insurance Group Planning In-Person Conference

In another sign that the COVID-19 pandemic is easing, the North Carolina Captive Insurance Association (NCCIA) has announced that its upcoming 2021 annual conference will be held in person, not online.

The conference will be held August 30 through September 1 at the Washington Duke Inn and Golf Club in Durham, North Carolina.

"We are so excited to have the opportunity to bring everyone together for this great meeting," NCCIA Chair Lea Riddle said in a statement.

The NCCIA also said it will be releasing videos of speakers who will be making presentations at the conference.

Unrelated, the NCCIA said that it expects the state's Senate to soon take up and pass legislation, S.B. 347, to amend North Carolina's captive insurance statute.

"Passage in the Senate is considered likely. Votes in all three committees were in unanimous support of the bill," the NCCIA said.

Under the measure, captive insurance companies that redomesticate to North Carolina before December 31, 2022, would be exempt from state premium taxes for the tax year in which they redomesticate and the following year.

North Carolina is one of the largest and fastest-growing US captive insurance domiciles. Last year, 250 captives were domiciled in North Carolina, up from just 52 in 2014.