16 October 2018Analysis

Hawaii regulator confirms permanent captive administrator

The Hawaii Department of Commerce and Consumer Affairs Insurance Division has appointed Andrew Kurata as its permanent deputy commissioner and captive insurance administrator, as he previously held the position in an acting capacity.

The captive insurance administrator oversees the ongoing regulation of all captives licensed in Hawaii under insurance commissioner Gordon Ito.

Kurata's responsibilities include monitoring for regulatory compliance, reviewing filings, coordinating on-site examinations, and promoting the growth and development of the captive insurance industry.

“Andrew has been a dedicated and important part of our experienced staff in providing a stable, committed and business-friendly environment that makes Hawaii one of the premiere domiciles in the world. The Insurance Division will benefit from his leadership and look forward to the continued success of our captive insurance industry,” said Ito.

Kurata has been with the Insurance Division since 2011 as a captive insurance examiner and captive insurance program specialist. He previously worked in the audit department at KMH.

Commenting on his appointment, he said: "I’m honoured to be appointed the captive insurance administrator and look forward to being a part of the continued growth and success of our domicile. The Captive Insurance Branch will continue to provide prudent regulatory oversight while forming collaborative partnerships with captive owners and service providers to achieve risk management objectives.”