Legal Developments

New Legislation Aims To Increase North Carolina Captive Insurers

March 5, 2019

Captive insurance companies that redomesticate to North Carolina would be exempt from state premium taxes under recently introduced legislation. Read More

New Effort To Be Launched To Expand RRG Coverages

January 28, 2019

A new drive is expected to try to convince federal lawmakers to pass legislation to expand coverages that Risk Retention Group (RRG) can offer to their policyholder-owners. Since 2006, lawmakers have discussed, during every congressional session, expanding the Risk Retention Act to allow RRGs to write property coverages. Read More

Fitch: ACA Ruling Effect on Insurance Uncertain

January 7, 2019

According to Fitch Ratings, the ultimate effect on the health insurance industry of December's federal court ruling that deemed the Affordable Care Act (ACA) unconstitutional is unclear, and what is expected to be a lengthy appeals process will follow. Read More

831(b) Captive Owners File Lawsuit Against Gallagher and Artex

December 14, 2018

Arthur J. Gallagher & Co. and its captive management unit, Artex Risk Solutions Inc., are being sued by a group of small employers alleging they have had to pay back taxes and other penalties to the Internal Revenue Service, involving their participation in 831(b) captives. Read More

Veto Overridden on Illinois Legislation Containing Captive Provisions

November 28, 2018

Illinois lawmakers Tuesday overrode an earlier gubernatorial veto of legislation that will set new minimum capital and surplus requirements for captive insurance companies licensed in Illinois. Read More