The Arizona Department of Insurance (the “Department”) recently announced the resignation of its Captive Administrator, Rod Morris. Morris, who joined the Department as Captive Administrator in 2004, will be leaving this post on February 8, 2008 to resume his former position as vice president of political risk insurance at Overseas Private Investment Corporation (“OPIC”). OPIC is an agency that helps U.S. businesses invest overseas and provides political risk insurance and financial support to U.S. investors in over 150 foreign countries. During Morris’s tenure as Captive Administrator, the number of Arizona licensed captive insurers increased from 27 to 106. The Department is currently seeking candidates to replace Morris.

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