Belinda Fortman Appointed TDCI Captive Director

TCIA board member and nationally recognized captive insurance executive Belinda Fortman will join TDCI as Captive Insurance Section Director effective later this month. Fortman brings decades of industry leading experience to help Tennessee continue it’s ascent as a global captive leader.

"I am very excited to be joining the TDCI and value the long-standing relationship with the TCIA. I look forward to continuing to work together to build on the success of Tennessee as a top-tier captive domicile," said Fortman.

During her career in the private sector in Tennessee, Fortman served as a Director for the Tennessee Captive Insurance Association and saw the Volunteer State modernize its captive statute, enabling Tennessee to grow its captive insurance companies from two companies in 2013 to more than 200 today.

“The TCIA is very excited to work with Belinda Fortman in her new role as Director of Captive Insurance for the Tennessee Department. She has been an invaluable asset to the TCIA as a Board member and Treasurer, and she will be a great leader as a regulator,” said TCIA president Kevin Doherty. “She has the experience and expertise that are required to lead the Captive Section and to help Tennessee remain at the forefront of captive domiciles, and I believe our industry will warmly welcome this news.”

Fortman, who moved to Tennessee from Vermont in 2013 to support the growth of captive insurance in Tennessee, draws on decades of experience in the industry — most recently leading her own captive management firm.

The captive insurance sector has an estimated economic impact in Tennessee of $31 million in direct annual spending and employs more than 100 full-time professionals. “Captive insurance is a growing and important part of Tennessee’s thriving economy. Belinda’s decades of leadership and experience with captive insurance companies will help ensure Tennessee will continue to climb among the ranks of respected captive industry leaders,” said TDCI Commissioner Hodgen Mainda. “With her skills, knowledge, and proven track record, I am confident Belinda will help Tennessee become the leader for captive insurance domiciles in the country and the world.”

Fortman’s client base has included Fortune 100 companies, large non-profit organizations, and mid-sized closely held firms. She has managed all forms of captive insurance companies including pure, association, agency, protected cell, special purpose, reciprocals and risk retention groups. An experienced leader, she has worked closely with clients in financial services, healthcare, retail, manufacturing, faith-based and other sectors, making her a perfect fit for Tennessee-based captives.

“I applaud Tennessee’s leadership for having the vision to expand the state’s captive statute, and I look forward to working with Governor Bill Lee’s administration, the TDCI team and business leaders from around the world to continue to build on Tennessee’s position as a global leader in captive insurance,” said Fortman. “Tennessee has grown to become one of the top-tier captive domiciles due to its business-friendly environment, responsive regulatory team, and low operating costs. Serving as the Captive Insurance Section Director is a wonderful opportunity to continue to contribute to the captive insurance industry in this state, and I am excited to be joining the TDCI team.”

Fortman’s first day as captive section director will be June 29. She replaces Jennifer Stalvey.

“There will be a seamless transition as Belinda assumes her new role. We appreciate Jennifer Stalvey’s leadership, dedication and service to the State of Tennessee and to our captive insurance companies. We wish her well in her move to California,” said Commissioner Mainda. “Jennifer’s leadership and our entire captives team, along with our business-friendly environment, helped Tennessee become the seventh largest market for captives in the nation and 12th in the world.”

About the Tennessee Captive Insurance Association: TCIA is a community of captive industry experts, owners and service providers engaged in advocacy, communication and education, committed to a strong captive insurance industry in Tennessee since 2011. Visit for membership information and news. Follow #TCIA on Facebook, Twitter and Linkedin.

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