Delaware DOI Begins National Search for New Captive Insurance Bureau Director

The Delaware Department of Insurance has begun the search for a new Director of the Bureau of Captive Insurance and Financial Products to take over once current director Steve Kinion’s contract expires on April 1.

The move is being made as the Department transitions the position from a contractual role to an exempt, appointed full-time state employee position. The Department has already begun a nationwide search for qualified candidates, spokesman Vince Ryan told Insurance Journal.

“The Commissioner appreciates Mr. Kinion’s leadership, but would like to make this an exempt, appointed full-time state employee position for someone who resides in the state of Delaware. Mr. Kinion currently resides in Springfield, Illinois,” he said. “Since we are making an administrative change, we have to open it up for application. We are working with the Delaware Captive Insurance Association on this process, and they have worked with us to invite Steve to apply.”

Any candidate that were to apply and receive the position would be required to relocate to or currently reside in Delaware due to the transition, Ryan said.

The new director of the Bureau of Captive Insurance and Financial Products will be appointed by Delaware Insurance Commissioner Trinidad Navarro, who was elected in November to succeed former Commissioner Karen Weldin Stewart, winning the race against his Republican counterpart, Jeff Cragg.

Responsibilities for this role will include regulating Delaware-domiciled captive insurance entities and overseeing the daily operations of the office, articulating the bureau’s goals and objectives and ensuring a stable and competitive environment for captive insurance, according to a press release issued by the Delaware Department of Insurance.

The release added that Kinion has guided the Bureau for the last eight years as it has grown from less than 100 captive insurance entities to just more than 1,000.