Regulation and Oversight
The Debate Over Captive Manager Licensing: Raising Standards or Adding Burden?
Captive manager licensing remains a debated topic in the industry. Experts discuss regulatory oversight, National Association of Insurance Commissioners model laws, and International Center for Captive Insurance Education credentialing, weighing the benefits of standardization against potential regulatory burdens. Stakeholders remain divided on whether licensing enhances professionalism or adds unnecessary costs. Captive managers, regulators, and captive owners all have vested interests in the outcome. Read More
Washington Seeks To Expand Captive Insurance Access for Public Utility Districts
Washington House Bill 1842 proposes allowing public utility districts (PUDs) to form captive insurers for improved risk management. The bill has passed committee review and awaits further legislative action. If enacted, it could provide PUDs with a cost-effective alternative to traditional insurance. Captive.com will monitor ongoing developments. Read More
Governor Kemp Proposes Tort Reform To Address Insurance Costs in Georgia
Georgia's tort reform proposal seeks to revise liability standards, regulate litigation funding, and stabilize insurance costs. The plan, backed by state leaders, aims to create a fairer legal system while maintaining business competitiveness. Lawmakers and industry stakeholders are closely monitoring its potential impact on insurers and the broader economy. Read More
Delaware Issues Artificial Intelligence Guidance for Insurers
Delaware Insurance Commissioner Trinidad Navarro issued artificial intelligence (AI) guidance for insurers, aligning with the NAIC Model Bulletin. The bulletin highlights compliance with existing regulations and addresses risks like bias, transparency, and data security. It also reaffirms the state's authority to examine AI systems during market conduct investigations and examinations. Read More
Solvency II: What Captive Insurers Need to Know
The Solvency II amendments introduce key changes for captives, including proportionality adjustments, reduced capital requirements, and streamlined reporting for small and noncomplex undertakings (SNCUs). In this episode, Joel Appelbaum and Alex Gedge discuss the impact of these regulatory updates, their effect on captives, and strategies for adapting to evolving compliance and environmental, social, and governance requirements. Read More