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Koogler quoted in Best's Regulatory Week about Ohio becoming the nation's latest captive domicile

6/26/2014

Partner Mark Koogler, an attorney in Porter Wright's Corporate Department, was quoted in the article, "Ohio governor signs bill making state latest captive insurance domicile," published in the June 23, 2014, edition of Best's Regulatory Week, an A.M. Best Company, Inc. publication.

From Best's Regulatory Week, Thomas Harman reporting:

The new bill allows companies to form pure captives, protected cell captives, incorporated protected cell captives and to use special purpose vehicles as captives for life insurers, said Mark Koogler, a trustee with the nonprofit Ohio Captive Insurance Association and a partner at the Columbus law firm of Porter Wright Morris & Arthur.

The market is likely to address the needs of the many domiciled companies in the state, Koogler said. Companies looking to form captives should benefit from the ease of having board meetings and the ability to conduct daily business with the captive. The OCIA, which actually formed several years ago in anticipation of the state becoming a domicile, now can begin work to update membership applications. "I fully expect that in the fourth quarter this year there will be captive applications sent to Ohio," Koogler said.