Texas Budget Includes Appropriation for a Captive Insurance Specialist

A view of the courtyard and the Texas Capitol Building in Austin

August 10, 2023 |

A view of the courtyard and the Texas Capitol Building in Austin

The 2024–2025 biennium budget recently approved by the Texas Legislature and signed into law by Governor Greg Abbott includes an appropriation directing the Texas Department of Insurance (TDI) to retain a captive insurance specialist.

The Texas Captive Insurance Association (TxCIA) board said that the measure was the subject of a special lobbying initiative by the organization.

The budget appropriation directs the TDI to conduct a competitive application process for a captive insurance specialist who will support captive insurance oversight and related activities in the Texas captive insurance market.

"This important development is expected to enhance the efficiency of the Texas captive insurance market and the ability of Texas to attract new captive investments in the state," a TxCIA statement said. "TxCIA extends its special thanks to Senator Charles Schwertner (R-Georgetown) and Representative Ed Thompson (R-Pearland) for sponsoring the appropriation and shepherding it through the appropriations process."

The TxCIA said the association's lobbying efforts and this latest development will be discussed further at the group's annual conference, scheduled for October 17–18 at the Irving Convention Center at Las Colinas in Irving, Texas.

Registration for the conference is underway. For more information or to register for the conference, visit the TxCIA website.

August 10, 2023