Legal Developments
Vermont Agency Captive Insurance Law Details Revealed
Vermont's captive bill (H.85), signed into law May 1, added agency captives to the types of captives that can be formed in the state. An agency captive is a reinsurance company formed/owned by an insurance agency or brokerage to provide reinsurance to its insured clients. Read More
Risk Retention Group Expansion: A Modest Yet Critical Proposal
A new drive is about to begin aimed at convincing Congress to pass legislation to expand the coverages risk retention groups can provide to member-owners. The legislation is expected to be similar to a measure introduced during the last congressional session that would have allowed certain risk retention groups to cover policyholders' property risks. Read More
Missouri Tort Reform Brings Fairness to Claims Settlement Process
Missouri has taken important steps toward improving its legal climate with the enactment of comprehensive insurance tort reform legislation, SS/SCS/HCS/HB 339 and 714, according to the Property Casualty Insurers Association of America. This bill will help curb the abuses associated with § 537.065 and the time-limited demand settlement process. Read More
Captive Domiciles Update Their Laws To Attract and Keep Captive Insurers
States with captive insurance laws are not resting on their laurels but are continuing to enhance those laws to attract new captive insurers and retain current ones with at least six state captive domiciles so far this year passing measures amending their captive statutes. Read More
Opportunities Enlarge as Texas Expands Its Captive Law
Governor Greg Abbott has signed House Bill 1944, which makes important changes to the Texas captive insurance law, opening up a variety of opportunities. This is the second consecutive session in which the Texas Legislature has made improvements to the captive statute since its enactment in 2013. Read More