Legal Developments
New Montana Captive Law Increases Captive Insurer Flexibility
Montana captive insurance companies that want to use a letter of credit to meet the state's capital and surplus requirements will have more flexibility to meet those requirements under legislation signed into law May 1, 2019, by Governor Steve Bullock. Read More
Tennessee Governor Signs Captive Legislation
Legislation approved late last month by Tennessee lawmakers and signed May 22, 2019, by Governor Bill Lee will allow captive insurance companies to receive premium payments and pay claims on insured losses in a foreign currency. Read More
North Carolina Removes Captive Premium Tax Provisions from House Bill
North Carolina legislators have stripped provisions from a broader bill, H.B. 220, that would temporarily exempt captive insurance companies that redomesticate to North Carolina from state premium taxes. Read More
Utah Captive Insurer Dormancy Provisions Go into Effect this Month
A new Utah law that takes effect May 24 will allow captive insurance companies licensed in the state to move into dormant status, freeing up both time and money for the captives and their parents. Read More
Vermont's Governor Officially Signs Captive Statute Changes into Law
Legislation recently signed into law by Vermont Governor Phil Scott will make several changes to Vermont's captive statute, including giving captives more time between mandatory financial examinations. Read More