Michael Corbett, the former regulatory director of captive insurance for the State of Tennessee’s Department of Commerce and Insurance (TDCI), believes he has left the regulator’s captive section “stronger than ever” under the leadership of Jennifer Stalvey and Cathy Gray.
Corbett left TDCI to take up a position as senior vice president at Pinnacle Financial Partners (PNFP), offering financial services to captive insurance companies. Stalvey has replaced him as director, with Gray becoming assistant director.
In an email to colleagues, Corbett said the pair had earned his complete faith over five years working together and insisted: “My decision [to leave TDCI] was predicated on their occupying these two critical positions.”
Corbett hopes that now he is back in the private sector he will be reinstated to the board of the Tennessee Captive Insurance Association (TCIA). “I will work to continue to promote the unique public/ private partnership with the TDCI,” he said.
Corbett said he was “extremely proud of all that has been accomplished during my tenure” at TDCI, but is now looking forward. “My focus is to make PNFP a top tier financial institution to the captive insurance industry, providing resources for establishing initial capital deposits, premium investment services, trust services, premium financing services as well as traditional banking services,” he said.
Michael Corbett, Tennessee’s Department of Commerce and Insurance, TDCI, Pinnacle Financial Partners, PNFP, Jennifer Stalvey, Cathy Gray