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2008 Utah Captive Association 2nd Annual Conference
The 2nd Annual Conference for the Utah Captive Association will be held on Friday, September 19, 2008 beginning at 7:30 a.m. at the Zermatt Resort in Midway. Please refer to www.utahcaptive.com for registration and other details about the conference, including information on golfing and tourist attractions (mountain biking, river rafting, horseback riding, and many more options).
2008 Celebration of the 100th Captive Insurance Company
On April 15, 2008 Governor Jon M. Hunstman, Jr. welcomed the 100th Captive Insurance Company. For details of the celebration, click here to download our press release.
(Click on the photos above to view or download)
Donnie Spann becomes first full-time Captive Insurance Director
Effective October 16, 2006 Donnie R. Spann, CFE, became Utah's first full-time Captive Insurance Director. "Don" comes to Utah with a strong regulatory background including experience working with captive insurers in the state of Tennessee.
Don began working for the Tennessee Insurance Department shortly after graduating from Austin Peay State University in 1976. With a Bachelor of Science degree in Business Administration and Marketing, he began as a field examiner performing the statutory examinations of insurance companies. In 1985 he obtained his CFE designation (Certified Financial Examiner) and was appointed Chief Examiner in 1988 where he continued to serve until his retirement in 2006. His tenure as Chief Examiner was one of the longest running terms in the country. Mr. Spann has also served as the National President of the Society of Financial Examiners (SOFE), Vice President, Treasurer/Secretary, and Program Manager for the organization. He has deep experience on many committees of the National Association of Insurance Commissioners (NAIC).
Don brings excitement to Utah as he begins promoting Utah as a premier captive domicile. With Utah's strong economy including construction, information technology, health services, recreational, and financial services, the captive industry will greatly benefit Utah's economy. He hopes to attract industry nationwide who desires to experience the beauty of Utah. Don maintains that once companies have seen all the state has to offer, the decision to choose Utah will be an easy one.
With a strong infrastructure and easy access to Governor Huntsman, the Legislature, Commissioner Michie, and captive regulators, the elimination of captive premium taxes makes Utah a strong domicile. In addition, the establishment of the Utah Captive Association will be of great benefit in attracting industry and service providers to our state. Don welcomes anyone interested in forming a captive insurance company or seeking additional information concerning the business environment for captive insurance.
He has always enjoyed visiting Utah and experiencing the variety of seasons and geographical beauty. He looks forward to making Utah his home. He is married to the former Linda Jensen from Grover, Wyoming. The Spann's have 7 children and 14 grandchildren.
Captive Seminar
On October 5, 2005, Utah business corporations participated in a seminar on captive insurance companies domiciled in Utah. The seminar, jointly sponsored by Marsh, the actuarial firm, Taylor-Walker & Associations and the law firm, Kirton & McConkie and the Utah Insurance Department was held in the Little America Hotel in Salt Lake City, Utah. Representatives from about 60 Utah businesses attended the seminar. The presentations made at the seminar are viewable by clicking on this link, Utah Captive Seminar.
Utah Captive Insurance Companies
As of December 31, 2007 ninety-two (92) captive insurance companies have selected Utah as their domicile of choice.
2006 Economic Report of the Governor
Governor Huntsman released the 20th Annual Economic Report to the Governor in January 2006. Click on the following link for more information.
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