Effective July 1, 2022, House Bill 5506 (the “Bill”) amends various provisions of Connecticut’s captive insurance laws. Notably, the Bill lowers the capital and surplus requirements for various types of captive insurers.
Read MoreOn February 3, 2022, Delaware Governor John Carney signed Senate Bill 203 (the “Bill”) into law, which allows corporations to purchase and maintain directors’ and officers’ (“D&O”) liability insurance through captive insurance companies.
Read MoreAtlanta Partner and Co-Chair of Locke Lord’s Regulatory and Transactional Insurance Practice Brian Casey, Chicago Partner Ben Sykes and New York Partner Zachary Lerner co-authored a two-part article for Insurance Journal discussing the top insurance regulatory developments of 2020, examining a year that brought many changes to the industry.
Read MoreOn February 5th, Connecticut Governor Ned Lamont delivered a series of proposals to legislators, including an act concerning captive insurance companies that aims to expand the captive insurance industry, incentivizing captives to relocate to Connecticut.
Read MoreThe Texas Department of Insurance (“TDI”) has amended its administrative rules governing Texas captive insurance companies.
Read MoreThe Texas Department of Insurance (“TDI”) has proposed amendments to 28 Texas Administrative Code sections 7.83 and 7.84, which govern the appeal of and frequency of TDI examinations.
Read MoreThe Texas Department of Insurance (TDI) has proposed a new rule and certain amendments to existing rules intended to implement provisions of the Texas Insurance Code that apply to captive insurance companies.
Read MoreEarlier this month, the Captive Insurance Agency Amendment Act of 2017 (DC LB 420) had its first reading before the District of Columbia Council. If enacted, LB 420 would increase the number of insurance products available for purchase through DC’s Captive Insurance Agency.
Read MoreOn December 29, 2016, the Internal Revenue Service issued Notice 2017-08, extending the disclosure deadlines for participants in and material advisors to certain micro-captive transactions.
Read MoreThe Internal Revenue Service on November 1 issued Notice 2016-66, which requires information reporting with respect to certain insurance or reinsurance transactions involving captive insurance companies that claim the benefits of an election under Section 831(b) of the Internal Revenue Code available to certain small insurance companies, often referred to as micro-captive transactions.
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