Regulation and Oversight

Department of Labor ExPro Option for Captive Insurers Remains on Hold

April 5, 2019

A US Department of Labor (DOL) suspension of a regulatory procedure that employers have used for years to get quick DOL review of their applications to fund employee benefit programs through their captive insurance companies remains on hold with no word yet on when the suspension will be lifted. Read More

Vermont Changes Financial Examination Requirements for Captives

April 1, 2019

Captive insurance companies in Vermont will automatically be assured of more time between mandatory financial examinations under legislation given final approval March 28 by state lawmakers. Read More

Washington State Collects $3.6 Million from Costco's Captive Insurer

March 14, 2019

Arizona-domiciled NW Re Limited, a captive insurance company owned by Costco Wholesale Corp., will pay $3.6 million in premium taxes, penalties, interest, and a fine in a settlement it reached with Washington State Insurance Commissioner Mike Kreidler. Read More

DC Mayor Establishes Regulatory Sandbox and Innovation Council

February 21, 2019

Washington, DC, Mayor Muriel Bowser recently established the District of Columbia Financial Services Regulatory Sandbox and Innovation Council, which will include captive insurance industry representation. Read More

Bermuda Captive Insurer Formations Tick Up in 2018

February 14, 2019

Bermuda licensed 19 new captive insurance companies in 2018, up slightly from 17 in 2017 and 13 in 2016, though the total number of captives in Bermuda continued to fall, domicile officials said Wednesday. Read More