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The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance

The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance

A FREE 12-page special report from Captive.com

The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance explores the challenges presented by today's business and economic upheaval, as well as the hardening insurance market, and what it means for the captive insurance industry.

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Kentucky Extends Captive Filing Deadlines Due to COVID-19

The state of Kentucky filled in blue with the Kentucky state seal on it
April 09, 2020

Due to the COVID-19 pandemic, Kentucky-licensed captive insurance companies will get more time to file certain information with the Kentucky Department of Insurance.

Specifically, a 60-day extension will apply for all captives filing audits and statements of actuarial opinion. A July 31 filing deadline will replace the prior June 1 deadline.

"This action is taken pursuant to the State of Emergency Executive Order 2020-220 and other executive orders issued by Governor Beshar in response to the COVID-19 public health crisis and all other applicable law," Russell Coy II, captive coordinator at the Kentucky Department of Insurance in Frankfort, said in a statement addressed to captive managers.

The filing extension notice is available on the Kentucky Department of Insurance website.

Kentucky is a major captive insurance domicile. At the end of 2019, 53 captive insurance companies were licensed in Kentucky, with those captives generating an estimated $105 million in premiums.
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