Regulation and Oversight
Washington State Collects $3.6 Million from Costco's Captive Insurer
Arizona-domiciled NW Re Limited, a captive insurance company owned by Costco Wholesale Corp., will pay $3.6 million in premium taxes, penalties, interest, and a fine in a settlement it reached with Washington State Insurance Commissioner Mike Kreidler. Read More
DC Mayor Establishes Regulatory Sandbox and Innovation Council
Washington, DC, Mayor Muriel Bowser recently established the District of Columbia Financial Services Regulatory Sandbox and Innovation Council, which will include captive insurance industry representation. Read More
Bermuda Captive Insurer Formations Tick Up in 2018
Bermuda licensed 19 new captive insurance companies in 2018, up slightly from 17 in 2017 and 13 in 2016, though the total number of captives in Bermuda continued to fall, domicile officials said Wednesday. Read More
Delaware Licenses 46 Captive Insurers in 2018
In Delaware in 2018, 46 captive insurers were formed. The state is the fifth largest captive domicile in the world and the third largest in the United States. Its captive insurers generate more than $12.5 billion of annual captive insurance premium. Read More
Michigan Captive Insurers Face New Filing Deadlines
Captive insurance companies licensed in Michigan will face new deadlines to file annual financial reports with the state Department of Insurance and Financial Services under legislation signed into law on December 20, 2018, by Governor Rick Snyder. Read More