State Auditor John Morrison announces Rocky Mountain Captive Insurance Association board

State Auditor John Morrison announced Wednesday the
board members of the newly formed Rocky Mountain Captive Insurance
Association.

Members of the emerging captive insurance industry formed the
association to promote Montana as the premier captive domicile in the
western United States.

"This industry is geared for growth in Montana," said Morrison,
Montana’s insurance commissioner. "It provides Montana with exciting
economic development possibilities and offers companies a number of
advantages including insurance coverage tailored to their specific needs,
improved cash flow, reduced cost of operation and premium savings."

A captive insurance company provides a form of self-insurance in which a
corporation or association organizes an insurance subsidiary to insure
itself or its members. Captive insurance companies serve the insurance
needs of the parent organization or its affiliated companies without the
uncertainties of commercial availability and cost.

"Watkins and Shepard Trucking of Missoula saved 10 percent on its insurance
premiums last year and 20 percent on its renewal after forming a captive
with two other trucking companies," according to Amy Minto of ALPS Big Sky
Captive Management of Missoula. Minto is the captive manager for American
Trucking and Transportation Insurance Co., A Risk Retention Group, of which
Watkins and Shepard is a member.

Board members of the association are:

Ken Crippen, American Trucking and Transportation Insurance Co., A
Risk Retention Group, of Missoula

Amy Minto, ALPS Big Sky Captive Management of Missoula

Brenda Olson, ORG Captive Management of Bigfork

W. Allen Taft, The Taft Companies of Markham, Va.

Chuck Turner, Payne Financial Group of Missoula

Captives traditionally have located in the east. In Vermont,
captive insurance is a billion-dollar-a-year industry.

"Our association’s goal is to promote Montana nationally and
educate people about the opportunities captives offer," Olson said. "We
live in a wonderful, beautiful state that is a great place to do business."

Minto said Montana stands out from the other 15 states that
allow captives and will attract coming from across the country.

"John Morrison and his staff in the State Auditor’s Office have
outdone themselves this past year by providing an exceptional level of
accessibility and cooperation," Minto said.