North Carolina Insurance Commissioner Mike Causey today announced that Michael Arcangel has been selected as the new chief captive analyst of the Captive Insurance Company Division.
Arcangel, who has an Associate in Captive Insurance designation, has been at the Department of Insurance for more than six years, most recently serving as supervising financial analyst for the division.
“Michael has been a valuable member of the financial analysis team with a strong work ethic,” Commissioner Causey said. “I congratulate him on this well-deserved leadership promotion with the Captive Insurance Company Division.”
“I am very grateful for this opportunity,” Arcangel said. “It is exciting to help lead our wonderful captive team and build on the success of the North Carolina Captive Insurance Program.”
Captive insurance is a formalized self-insurance program that many businesses use as a means of managing their risks.