Mo. Department of Insurance: Komo Joins Department of Commerce & Insurance in Captive Manager Role

JEFFERSON CITY, Missouri, July 7 -- The Missouri Department of Insurance issued the following news release:

Martin "Sam" Komo joined the Missouri Department of Commerce & Insurance as the new captive manager on July 2, 2021.

As captive manager, Komo serves Missourians by acting as the primary contact as it relates to captive insurance in Missouri. This position is responsible for developing and implementing methods that maximize the value that captive insurance brings to our state and for those captive insurance companies that choose to domicile here. This position does outreach to educate industry stakeholders on the benefits of captive insurance and the unique advantages available to them under the Missouri captive law.

Komo is well suited for his new role due to his strong background in economic development. His professional experience includes previous leadership and management roles at the Missouri Department of Economic Development and the Missouri Department of Labor and Industrial Relations. Komo is also a former Missouri state representative who was formerly the ranking member on the Job Creation and Economic Development Committee.

"While in Tennessee, I oversaw the rebirth of their captive program and it takes someone like Sam to do it," said Chlora Lindley-Myers, director of the Department of Commerce & Insurance. "Sam is the ideal candidate to reinvigorate Missouri's captive program and to maximize its benefit for Missouri businesses and beyond."

Komo joins the DCI Insurance Company Regulation Division which monitors and analyzes the financial condition of insurance companies licensed in Missouri to ensure they can pay claims. The division also certifies and collects premium taxes due the state.

"I'm excited to have someone of Sam's caliber take the reins of the captive program," said John Rehagen, director of the Insurance Company Regulation Division. "Sam's technical expertise coupled with his strong track record of community and industry outreach make him the ideal fit."

The Department of Commerce & Insurance (DCI), protects Missouri consumers through our oversight of the insurance industry, banks, credit unions, various professional licensees and various utilities operating in the state. DCI's strategic priority is to educate and advocate for Missourians as well as regulate fairly and impartially the industries and professionals under our purview.