Oklahoma gets ICCIE recognition

The International Center for Captive Insurance Education (ICCIE) has recognised the Oklahoma Insurance Department (OID) as an ICCIE Trained Organisation at the 2024 Western Region Captive Insurance Conference (WRCIC) in Tulsa. 

According to the OID this further signifies the agency’s commitment to making Oklahoma a desired domicile for captive insurance companies and service providers. 

“We’re honoured to receive this designation,” said Oklahoma Insurance Commissioner Glen Mulready. “Being an ICCIE Trained Organisation reaffirms our team’s dedication to providing quality service to our thriving captive industry.” 

According to ICCIE, to qualify as an ICCIE Trained Organization, an organization must meet the following requirements: 

At least 20% of the captive professionals in the organization must hold the Associate in Captive Insurance (ACI) in good standing; and 

At least 30% of the company’s captive professionals must be ACIs, Certificate in Captive Insurance (CCI) holders, or currently enrolled in the ACI or CCI program. 

"The Oklahoma Insurance Department is one of only five captive insurance domiciles in the world to be ICCIE Trained,” said Steve Kinion, director of the Oklahoma Insurance Department’s Captive Insurance Division. “This designation reflects Oklahoma's professional regulatory environment."  

During 2023, OID issued 20 new captive licenses resulting in a net gain of 14 new captive insurers, representing a 31% net increase in licensed captive insurers for the year ending December 31, 2023. This brought Oklahoma’s total captive insurers to 59, reinforcing the state’s position as a thriving hub for captive insurance activities according to the OID. 

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