OID hails success of inaugural captive & IBT Conference
The Oklahoma Insurance Department (OID) has hailed the success of the inaugural Oklahoma Captive & Insurance Business Transfer (IBT) Conference in Oklahoma City.
The two-day conference was held at the Omni Oklahoma City Hotel on August 24-25 and attracted a total of 287 attendees with more than 40 percent traveling to Oklahoma City from other states and the UK.
“I am proud of our team for hosting this important conference,” said insurance commissioner Glen Mulready. “By every measure—from the number of attendees, the number of companies and state insurance departments represented, the quality of both the social events and educational sessions, and the brand new hotel located in the heart of Oklahoma City downtown —the conference was a huge success. We have received nothing but positive feedback.”
The conference covered all aspects of captive insurance and IBTs featuring 27 industry expert speakers and nine educational sessions. The keynote speakers included Oklahoma Governor Kevin Stitt and fellow regulators from around the country. The event showcased the success of Oklahoma’s first-in-the-nation IBT transactions and examined the increasing number of captive companies choosing to domicile in the state.
“I believe innovation like IBT and Captive can bring an economic boost to our state, security to consumers and reliability and finality to the insurance industry. This conference was able to examine these cutting-edge mechanisms and showcase what we can do,” Mulready added.