The Tennessee Department of Commerce and Insurance (TDCI) has appointed Joshua Clark as its new director of business development for the insurance division, where he is responsible for expanding the use of captives.
Tennessee currently has over 203 licensed captive insurance companies and 471 approved cell companies for a total of 674 risk-bearing entities (RBEs), compared to 652 at the end of 2019. As part of his new role, Clark, who started his new role at TDCI in late July, will establish objectives with the Tennessee Captive Insurance Association (TCIA) to help it promote captive insurance within the state.
Commissioner Hodgen Mainda said Clark will focus on cultivating new opportunities separate from insurance regulation by leveraging his experience, contacts in the industry and diverse regulatory knowledge.
Clark was most recently a consultant for EXL Loss Control, but has worked in a number of roles across the insurance industry. He has also served on the board of directors for the non-profit Team Chad, which serves patients and families in Nashville, Middle Tennessee and surrounding areas whose lives are directly affected by cancer.
Clark said: “I am honored to join the incredible team at TDCI as the new Director of Business Development for the Insurance Division, and I am excited to contribute to Tennessee’s continued success and growth in the industry.”
Rachel Jrade-Rice, assistant commissioner at TDCI, called him a “great addition to our team,” noting his dedication to the regulator’s mission and values of serving consumers and responsible regulation.
Tennessee Department of Commerce and Insurance, TDCI, Joshua Clark, Tennessee Captive Insurance Association, Hodgen Mainda, Rachel Jrade-Rice