The Alabama Alternative Risk Alliance (ALARA) officially launched Monday with its inaugural Installation Ceremony and Ribbon Cutting at the Montgomery Area Chamber of Commerce, marking a significant milestone for Alabama’s captive insurance industry. During the event, Alabama Insurance Commissioner Mark Fowler announced that the captive formation moratorium would be allowed to expire as scheduled, reopening Alabama to new captive insurance company applications.
The event brought together ALARA’s Founding Members, Board of Directors, industry leaders, and representatives of the Alabama Department of Insurance to celebrate the launch of Alabama’s first statewide association dedicated to captive insurance and alternative risk.
ALARA President Jennifer Haskell welcomed attendees and reflected on the significance of the occasion.
“This year marks the twentieth anniversary of Alabama’s Captive Insurers Act. Twenty years ago, Alabama’s leaders had the vision to establish a captive insurance domicile. Today, we have the opportunity, and the responsibility, to build on that vision.”
Haskell noted that ALARA’s Founding Members include Alabama’s first captive insurer, second captive insurer, first Alabama-domiciled Risk Retention Group, and one of the state’s newest captive Risk Retention Groups, reflecting both the history of Alabama’s captive industry and confidence in its future.
She emphasized that ALARA was founded on the belief that Alabama’s greatest opportunity lies in collaboration among regulators, captive owners, risk-bearing entities, and industry service providers.
“Our goal is not to create an ‘us versus them’ environment, but to build partnerships through collaboration, education, and open dialogue. We believe Alabama has tremendous potential as a captive domicile, and we look forward to working together to support its continued growth and success.”
Haskell also challenged the organization’s newly installed leadership to remain focused on meaningful results.
“The success of ALARA will not be measured by the number of members we have or the number of meetings we hold. It will be measured by whether Alabama’s captive and alternative risk industry is stronger because we chose to work together. If, years from now, Alabama is recognized as a premier captive domicile because regulators and industry collaborated, educated one another, and built lasting relationships, then ALARA will have accomplished its mission.”
Commissioner Fowler noted that organizations such as ALARA provide opportunities for industry participants to exchange knowledge, strengthen professional relationships, and create a valuable point of contact between regulators and stakeholders. As Alabama marks two decades as a captive insurance domicile, he recognized the contributions of captive owners, risk retention groups, service providers, and other industry professionals who have helped shape the state’s captive insurance marketplace.
One of the ceremony’s most meaningful moments came as Commissioner Fowler administered the Oath of Office to the Directors appointed by ALARA’s Founding Members. Following the installation of the Board of Directors, the Founding Directors formally ratified ALARA’s elected officers, after which Commissioner Fowler also administered the Officers’ Oath of Office.
The oaths affirmed each leader’s commitment to faithfully serve the Association, uphold its mission, fulfill fiduciary responsibilities, promote sound governance and ethical leadership, and advance Alabama’s captive insurance industry with integrity and professionalism.
Following the installation ceremony, Commissioner Fowler joined ALARA’s officers, directors, Founding Members, and industry partners for the official ribbon cutting, formally commemorating the launch of Alabama’s statewide trade association dedicated to advancing captive insurance and alternative risk solutions through education, collaboration, and professional engagement.
Commissioner Fowler’s announcement that the captive formation moratorium would expire renewed momentum for Alabama’s captive insurance industry. With Alabama once again open to new captive insurance company applications, the focus now turns to strengthening the state’s position as a competitive captive domicile.
Commissioner Fowler also invited ALARA to participate in future roundtable discussions with the Alabama Department of Insurance on issues affecting Alabama’s captive insurance industry. The invitation reflects a shared commitment to maintaining open communication between regulators and industry stakeholders and fostering responsible growth in Alabama’s captive marketplace.
With Alabama once again open for new captive formations and a spirit of collaboration guiding the path forward, ALARA begins its work committed to connecting industry stakeholders, promoting education and professional excellence, encouraging sound governance, and strengthening Alabama’s position as a premier domicile for captive insurance companies and alternative risk organizations.
June 29, 2026, marked more than the launch of a new association. It marked the beginning of a long-term commitment by regulators, industry leaders, captive owners, and service providers to work together in shaping the future of Alabama’s captive insurance marketplace.
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