The Tennessee Department of Commerce & Insurance (TDCI) has appointed Mark Wiedeman as director of its captive insurance section.
Wiedeman is the State’s third captive director since 2020, succeeding Jonathan Habart who was promoted to the role in November 2021 and Belinda Fortman who took over in June 2020.
Wiedeman brings captive regulatory experience having previously been assistant director of the captive insurance division in Utah. He left that role in September 2022.
“Mark’s return to the field of insurance regulation is a huge win for TDCI, for all of Tennessee’s captive insurance licensees, and for the State of Tennessee,” said TDCI Commissioner Carter Lawrence.
“His proven leadership and sterling reputation in the captive insurance industry will build on our momentum as a first-choice domicile for captive insurance companies both domestically and internationally. I am thrilled to welcome Mark to the TDCI team, and I am confident he will take Tennessee to the next level of success.”
Tennessee said it has 151 active licensed captive insurance companies and a total of 562 risk-bearing entities with annual gross written premium exceeding $1.72bn.
“Tennessee has a great reputation among captive domiciles, and I am excited to be joining Tennessee’s team where I will work to help them continue in their success,” Wiedeman said.
“My goal is to maintain a regulatory structure that allows for stable and sustainable growth while giving captive companies a domicile in which they can succeed in providing their parent companies with innovative insurance products.”