3 July 2014USA analysis

Utah appoint captive audit manager

Utah captive insurance director David Snowball has announced that Benjamin M. Harris, CPA will be joining the captive division as an audit manager.

He will join Travis Wegkamp, also an audit manager, in directing the examinations for the captive insurers in Utah.

Harris’ appointment will assist in providing the necessary regulatory support for Utah domiciled captive insurance companies.  He will also help look for ways to enhance and streamline procedures to provide the right oversight in a consistent, responsive and reasonable manner. The Utah government is positive that Harris will complement the experienced staff in the insurance department’s captive division.

Before joining the division Harris worked with a CPA firm as an audit manager/supervisor performing captive insurance audits, and is very familiar with both SAP and GAAP principles. He graduated from Brigham Young University with a Bachelor’s and Master’s Degree in accounting.

The past 5 years has seen Utah’s captive division grow from 148 captive companies to over 340 plus an additional 60 cells, making it the second largest domicile in the United States and fifth largest captive domicile in the world.