Is Captive Insurance Right for Your Business? A Deep Dive with AkinovA
PODCAST: Benefits Companion - Captive Insurance Arrangements
Captive Insurance Arrangements
On July 16, 2024, the Connecticut Department of Insurance (the “Department”) issued a press release announcing that Governor Ned Lamont has signed Public Act No. 24-138, “An Act Concerning Insurance Market Conduct and...more
The North Carolina General Assembly ended its 2022 short session on July 1. While the legislature is scheduled to reconvene on July 26, no additional tax legislation is expected to be considered....more
The measures taken by the Vermont Department of Financial Regulation (the “DFR”) in 2020 in response to the COVID-19 pandemic have been extended through 2021. These include a recognition that in-person board meetings in...more
There were no significant changes in Vermont’s leadership team during the last election cycle. Governor Phil Scott, a Republican, was re-elected in November 2018 for another two-year term. Michael Pieciak, the Commissioner...more
There were no significant changes in Vermont’s leadership team during the last election cycle. Governor Phil Scott, a Republican, was re-elected in November 2018 for another two-year term. Michael Pieciak, the Commissioner of...more
In 2017, the Texas legislature enacted a number of changes to the regulation of captive insurers. In September 2018, the Texas Department of Insurance proposed one new regulation and amendments to several other regulations in...more
Illinois has adopted a bill that includes a number of revisions to its laws regarding captive insurance companies. ...more
The Texas Department of Insurance has proposed a set of amendments to its regulations concerning captive insurance in order to implement changes passed into law by the Texas legislature in 2015 and 2017. ...more
Vermont's Leadership Team - Vermont’s leadership team largely stayed the course in 2017. Governor Phil Scott and Michael Pieciak, the Commissioner of the Department of Financial Regulation (the “DFR”), each completed a...more
A tax court judge in New Jersey has handed Johnson & Johnson (J&J), and likely other New Jersey-based businesses that operate captive insurers, a significant loss in an opinion interpreting the federal Nonadmitted and...more
South Carolina passed new legislation making numerous and streamlining changes to its captive insurance law. Included in the changes are: modified capital and surplus requirements, a new definition of a captive’s principal...more
On May 9, 2018, SB 377, “An Act Authorizing Agency Captive Insurance Companies,” introduced by Connecticut Senators Larson and Kelly, was passed into law. SB 377 allows licensed insurance agents and producers to establish an...more
On April 12, 2018, Kansas Governor Jeff Colyer signed into law SB 410– a bill establishing the Captive Insurance Act, which creates two new types of captives – branch and special purpose – and specifies the regulatory...more