Legal Developments
Arkansas Governor Signs Bill to Form State Property Insurance Captive
Arkansas Governor Sarah Huckabee Sanders has signed a measure creating a state-owned captive insurance company aimed at stabilizing property insurance for public schools, higher education institutions, and state-owned buildings. The measure provides that the Arkansas Department of Transformation and Shared Services will oversee the state captive insurance program's operations. Learn More
Arkansas Advances Bill to Establish State-Owned Captive for Public Property Insurance
Arkansas House Bill 1821 introduces a state-owned captive insurance company to centralize property coverage for public schools and state entities. The program aims to stabilize premiums, improve risk management, and replace fragmented insurance structures. If passed, it will be a significant move in government-led captive insurance reform. Learn More
Dorset Peak Solutions Sues Oxford Risk Management over Alleged Captive Insurance Misconduct
Dorset Peak Solutions has filed a lawsuit against Oxford Risk Management, alleging a captive insurance restructuring that reduced financial protections for policyholders. The suit claims Oxford secretly transferred liabilities to a Bermuda entity, violating contracts and securities laws. The case raises key issues in risk management and regulatory oversight. Read More
Captive Insurer Disputes Reinsurance Obligations Following Acquisition
McLaren Insurance Company, Ltd. (MICoL), a captive insurer, has filed a lawsuit against Hiscox and MedPro over reinsurance obligations. MICoL alleges improper assignment of duties under a reinsurance agreement related to a Legionella batch claim, seeking a declaratory judgment and indemnification for covered losses. Read More
Governor Scott Signs Bill Updating Vermont Captive Insurance Laws
Governor Phil Scott signed Bill H. 659, updating Vermont's captive insurance statutes to enhance regulatory practices, reduce redundancies, and align with market needs. Read More
Captive Insurance, Medical Malpractice, and Dobbs
The US Supreme Court's 2022 Dobbs ruling raises important questions for captive insurance companies writing medical malpractice coverage. Medical malpractice professionals must now consider coverage issues around medical procedures involving abortions or services tangentially related to abortions. Read More
The Dobbs Decision and Captives
Captives underwriting medical professional and general liability coverages face new challenges as a result of the US Supreme Court's 2022 decision in Dobbs v. Jackson Women's Health Org., 142 S. Ct. 2228 (2022). These challenges should be evaluated and understood by captive boards of directors, risk managers, and claim managers. Read More