North Carolina Picks Lori Gorman To Lead Captive Insurance Division

Lori Gorman, a longtime executive in the North Carolina Department of Insurance (NCDOI), has been selected to succeed Debbie Walker as the NCDOI's top captive insurance regulator, the NCDOI has announced.

Ms. Gorman has been at the NCDOI for 15 years and currently is an assistant chief financial analyst in the financial analysis section of the NCDOI's company services group, where she assists in the monitoring of the more than 90 domestic and more than 1,400 foreign insurers licensed in North Carolina.

"Lori has an in-depth knowledge and understanding of the financial oversight that will complement the Captive Insurance Company Division," North Carolina Insurance Commissioner Mike Causey said in a statement.

Diana Hardy, chair-elect of the North Carolina Captive Insurance Association, also said in a statement that Ms. Gorman's "knowledge of the department and understanding of the customer service orientation" will ensure a smooth transition after Ms. Walker's retirement.

As earlier reported, Ms. Walker, the NCDOI's senior deputy commissioner who will retire at the end of March, worked for the NCDOI for 30 years, including the last 9 years as a captive regulator whose duties included the licensing and regulation of captive insurance companies.

Ms. Gorman will assume her new role as deputy commissioner of the North Carolina Captive Insurance Company Division on April 1.

North Carolina is a major captive insurance domicile. In 2021, the state licensed 31 new captive insurance companies, bringing North Carolina's captive count to 257.