TDCI captives chief to return to the private sector

Michael Corbett will join Pinnacle Bank as senior vice president on March 16, 2020 after serving over eight years as the regulatory director of captive insurance for the State of Tennessee’s Department of Commerce and Insurance (TDCI).

He will end his tenure at TDCI on March 6, 2020.

Corbett joined TDCI in 2011 to build its captive insurance regulatory offering. Since then, captives have been formed across a wide spectrum of industries including Hospital Corporation of America, International Paper, Nissan Motors and Pinnacle Bank.

Before joining TDCI Corbett developed an institutional financial consulting practice at a major brokerage house that focused on captive insurance companies, and sat on the finance committee of the Vermont Captive Insurance Association as its chairman.

Corbett vowed to continue the work of promoting Tennessee as a gold standard domicile while working in the private sector.

Corbett added: “I leave the captive section with a deep and broad bench of very talented captive insurance company analysts and examiners led by two very talented captive regulatory and examination directors.” These are Jennifer Stalvey, the director, and Cathy Gray, the assistant director.

Kevin Doherty, the president of the Tennessee Captive Insurance Association, said: “Tennessee Captives would certainly not be where they are today without [Corbett’s] hard work. We welcome his continued expertise as he transitions into the private sector.”