International Paper moves its captive to Tennessee from Vermont
17-12-2020
19-01-2018
International Paper, the Memphis-based global fiber-based packaging, pulp and paper company, has relocated its captive insurance company to Tennessee from Vermont.
The move is a milestone for Tennessee, becoming its 700th risk-bearing captive insurance entity. Tennessee now has 211 standalone captives and 489 cell captives.
Tennessee is currently ranked as the seventh largest captive domicile in the US and 12th largest domicile in the world.
The state’s captive insurance companies are regulated by the Tennessee Department of Commerce & Insurance (TDCI) which, along with International Paper, recently celebrated the relocation at a brief socially distanced event in Nashville. Tennessee Governor Bill Lee addressed the event via a video message, and TDCI captive insurance section director Belinda Fortman presented a ceremonial license to David Arick, International Paper’s assistant treasurer
Wednesday, December 16, 2020 |
03:52pm
NASHVILLE The Tennessee Department of Commerce & Insurance’s (TDCI) Captive Insurance Section and Memphis-based global fiber-based packaging, pulp and paper products leader International Paper proudly announce the relocation of International Paper’s captive insurance company from Vermont to Tennessee.
The arrival of International Paper’s captive insurance company is a milestone for Tennessee as it represents the Volunteer State’s 700th risk-bearing captive insurance entity. Tennessee now has 211 standalone captives and 489 cell captives. Tennessee is currently ranked as the 7th largest captive domicile in the United States and 12th largest domicile in the world.
Captive insurance companies, which are regulated by TDCI, are formed primarily as a financing vehicle to self-insure the related or affiliated business risks of its owners. A risk-bearing entity is any formation type of a captive insurance company, including cell captives.
Wednesday, December 16, 2020 |
08:00am
NASHVILLE â While winter brings traditional holiday festivities such as Christmas and New Yearâs Eve, the seasonâs cold weather also poses enhanced fire-related risks to Tennessee homeowners.
During winter, fire deaths increase by almost
75 percent across the Volunteer State, according to state fire data. Heating equipment is the leading cause of home fire deaths nationally and the second leading known cause in Tennessee.
Ahead of the first day of winter (Dec. 21) and Christmas (Dec. 25), the Tennessee Department of Commerce & Insurance (TDCI) and the Tennessee State Fire Marshalâs Office (SFMO) remind Tennesseans to focus on fire safety in order to help reduce home fires and save lives this winter.Â
Neal & Harwell has added attorney Marisa Garcia as an associate in its litigation practice group.
Garcia (pictured) graduated from Belmont University College of Law in May, according to a release. She was an editor of the
Belmont Law Review and a member of the Belmont University board of advocates. Garcia also worked as a summer associate with Neal & Harwell and held additional positions with the Tennessee Attorney General’s Office and the Tennessee Department of Commerce & Insurance during school.
Prior to law school, Garcia was a member of the U.S. Air Force.
“We are thrilled to add Marisa to our litigation team at Neal & Harwell,” Chief Administrator Ronald Harris said in the release. “With her many talents and work ethic, we know that she will be a most effective advocate for our clients.”