Montana Captive Insurance Association Says New Auditor Signals Positive Future

November 14, 2008

The Montana Captive Insurance Association Inc. is applauding the election of Monica Lindeen as the new state auditor. The state auditor also serves as insurance commissioner and regulates captive insurance companies.

During her campaign, Lindeen demonstrated an interest in the state’s captive insurance industry and actually attended multiple MCIA events, the group said. Thanks to this involvement, association representatives have had the opportunity to educate Lindeen on the importance of the state’s captive insurance industry and how the state auditor can help ensure its future growth.

“It is very important to our state’s captive industry that the top regulator understands our business and we believe Ms. Lindeen does,” said MCIA President Mike Mace.

This positive election result comes at a particularly important time as the other western captive domiciles are experiencing regulatory problems delaying the processing of captive applications, Mace said. With the election of Ms. Lindeen, Montana will clearly be “open for business,” he noted.

Lindeen served four terms in the Montana state legislature and also founded a successful telecommunication business.

The Montana Captive Insurance Association is a trade association that represents Montana’s captive insurance industry.

Source: MCIA

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