Captive Domiciles

  Washington DC

Captive Insurance Overview Given by DISB at CIC-DC Annual Conference

Attendees at the Captive Insurance Council of the District of Columbia (CIC-DC) Annual Conference October 21, 2015, received an overview of captive growth for 2015 in the lead presentation by the Department of Insurance, Securities and Banking (DISB).
October 22, 2015 Read More
  Ohio Flag

Captive Insurance Company First To Be Licensed in Ohio

Imprise Financial PCC, Inc., is now licensed as Ohio’s first "protected cell" captive insurance company, the Ohio Department of Insurance has announced. Through its protected cells, Imprise Financial will allow businesses to insure some of their own commercial risks, realize greater control of their risk­ management programs, and achieve long-­term financial stability.
August 27, 2015 Read More
  Guernsey Flag

Captive Insurance Domicile Gets EU Endorsement Confirmation

The European Union (EU) Commission has confirmed its continued endorsement of Guernsey as a cooperative jurisdiction following a meeting between officials in Brussels, according to a news release from Guernsey Finance, the promotional agency for the island’s finance industry internationally.
August 12, 2015 Read More
  Code of Ethics

Captive Insurance Industry Code of Ethics Adopted in North Carolina

The North Carolina Captive Insurance Association (NCCIA) recently adopted a code of ethics designed to maintain a high-quality captive insurance industry. The code of ethics is believed to be the first one created for the captive insurance industry. Atlas Insurance Management is one of the first captive insurance management firms to sign a written pledge to adhere to the 10 principles of the new code.
August 07, 2015 Read More
  Utah Rocks Arches

Utah Proposed Changes to Captive Administrative Rule

The Utah Insurance Department Captive Insurance division has proposed several changes to captive-related administrative rule R590-238. The most significant change is the definition of what constitutes a captive manager.
July 31, 2015 Read More
  Fast Track

Captive Insurance Domicile Fast-Tracks Application Process

The Anguilla Financial Services Commission (AFSC) is now offering a 1-day fast-track application process for eligible insurance managers, according to a press release issued by Anguilla Finance Limited.
July 28, 2015 Read More
  Oklahoma State Flag

Captive Insurance Company Act Amended in Oklahoma

Oklahoma Governor Mary Fallin has signed Senate Bill 455, which includes a number of changes to the Oklahoma Captive Insurance Company Act.
July 14, 2015 Read More
  Bermuda Beach Ocean

Bermuda Business Development Agency CEO Op-Ed

Bermuda Business Development Agency (BDA) CEO Ross Webber has written an op-ed on the recent European Union blacklist controversy. As part of the BDA, our mission is to uphold and promote Bermuda's respected jurisdictional reputation overseas. Webber feels it is important to correct misinformation and proactively spread greater public awareness of Bermuda's value to the global economy. We will continue to do so.
July 10, 2015 Read More
  Pen Signing Document

Captive Insurance Legislation Amended in Delaware

Delaware Governor Jack Markell has recently signed House Bill 15, which amends the state's captive legislation in various ways, one of which is to allow Delaware-domiciled captive insurance companies to apply for membership in the Federal Home Loan Bank system.
July 08, 2015 Read More
  CICR Logo

Do Financial Exam Costs Vary Significantly by Domicile?

The July 2015 issue of Captive Insurance Company Reports (CICR) features an excellent article on risk retention group (RRG) financial exam costs. The article is based upon research performed by Pinnacle Actuarial Services and written by Erich A. Brandt, Greg Fears, and Robert J. Walling III, actuaries at Pinnacle Actuarial Services in Bloomington, Illinois.
July 02, 2015 Read More
  Texas Sign Rocks

Texas Governor Signs Captive Risk Pooling Legislation

The Texas Governor Greg Abbott has approved legislation (S.B. 667) designed to encourage smaller companies to create or re-domesticate captives in Texas.
June 19, 2015 Read More
  North Carolina Pier

North Carolina Updates Captive Law

The North Carolina General Assembly has unanimously enacted a revision of the state’s captive insurance statute. Governor Pat McCrory is expected to sign the legislation.
June 18, 2015 Read More
  Court Ruling Gavel

Montana Court Issues Protected Cell Captive Decision

The US District Court for the District of Montana has issued a declaratory judgment in a case involving a protected cell captive (PCC) formed under Montana law that had entered into a reinsurance agreement on behalf of an unincorporated cell.
June 16, 2015 Read More
  New Jersey Flag

Captive Insurer Approved for Addition of Employee Benefit Coverage in NJ

The approval of a new line of authority for the captive insurer formed last year by Healthcare Services Group, Inc. (HCSG), of Bensalem, Pennsylvania, has been announced by the New Jersey Department of Banking and Insurance. Under the new authority, HCSG joins a new but growing area of captive insurance for company employee benefit plans.
June 15, 2015 Read More
  Connecticut Flag

First Sponsored Captive in Connecticut Formed by SOBC

Connecticut Insurance Commissioner Katharine L. Wade has announced the licensing of the state’s first sponsored captive, SOBC Insurance Company Ltd. The company is the eighth captive licensed by Connecticut.
June 01, 2015 Read More
  Texas Capitol Building Austin

Texas Legislature Approves Captive Risk Pooling

The Texas Legislature has approved legislation (S.B. 667) designed to encourage smaller companies to create or re-domesticate captives to Texas.
May 29, 2015 Read More
  Utah-Map

Utah Captive Insurance Director Reports to UCIA on 2015 Changes

Several captive-related legislative changes are on the horizon and will contribute to Utah's "business-friendly environment," members of the Utah Captive Insurance Association (UCIA) learned when they met Monday at the Western Region Captive Insurance Conference.
May 12, 2015 Read More
  Barbados map

Barbados: “Gateway to Latin America” and Its Concerns for the Future

The Barbados International Finance & Business 2015 edition has several excellent captive-related articles recommended for reading.
May 11, 2015 Read More
  Vermont State Capitol

Vermont Enacts Captive Statute Revisions

Vermont Governor Peter Shumlin on May 7 was expected to sign new captive legislation, the most significant groundbreaking change of which is to allow marketable securities along with cash, trusts, and letters of credit to meet the minimum capital requirement.
May 07, 2015 Read More
  Document Signing

District of Columbia Revises Captive Insurance Company Act

The District of Columbia’s Captive Insurance Company Amendment Act of 2014 became effective March 10, 2015, following the end of the 30-day congressional review period.
April 22, 2015 Read More