Legal Developments
Montana Revises Captive Statutes
Montana Governor Steve Bullock has signed two captive-related legislative bills, one of which will now allow public-sector entities to establish captive insurance companies in the state. Read More
TRIA Nonrenewal Effect on Workers Compensation Coverage
Mark Walls describes in a recent article reaction in the insurance marketplace to news of the expiration of the Terrorism Risk Insurance Act (TRIA). Read More
Expected TRIA Nonrenewal Outcomes and Association Reactions
As the insurance industry reacts to the failure to pass legislation reauthorizing the Terrorism Risk Insurance Act (TRIA), resulting in its expiration December 31, 2014, Captive.com looks at predictions for the outcome that is now expected. Read More
Nebraska Statutes Do Not Preempt Arbitration Clause of RRGs
The Nebraska Supreme Court reversed a lower court decision and ruled that Nebraska statutes prohibiting mandatory clauses in insurance contracts do not preempt the Federal Liability Risk Retention Act with respect to foreign risk retention groups. Read More
Captive Insurer Clarification Act Would Correct Unintended Consequences of NRRA
In July 2014 Senator Patrick Leahy (D-VT) introduced Senate Bill 2796, which would clarify the definition of nonadmitted insurer under the Nonadmitted and Reinsurance Reform Act (NRRA) of 2010. The legislation is cosponsored by Senator Lindsey Graham (R-SC). Read More