Competition continues among the states with respect to captive insurer regulation.
- The proposed Missouri regulations described in our March 10, 2008 post relating to the financial management and control of captives has been adopted, with an effective date of June 30, 2008.
- On May 20, 2008, the Governor of Arizona signed an enacted bill which amended its captives law to permit branch captives to cover any risk a traditional single-parent captive could write. Last year, Arizona amended its rules to permit its branch captives to fund employee benefit risks.
- On June 2, 2008, the Governor of Connecticut signed into law Senate Bill 281 (mentioned in our March 10, 2008 post), which provides for the formation and regulation of captives under Connecticut law. See an analysis of the new law and its final text.
This post written by Rollie Goss.