The amended legislation proposes a two-year premium tax holiday for captives redomesticated in the state and reduces the retaliatory tax rate applied to RRG
The state is known as the largest captive domicile in the US, followed by Utah and North Carolina, holding 439 and 311 respectively.
The state currently hosts 311 captive entities, up from 294 in 2022, with Utah holding 439 and Vermont licensing 659.
The ratings reflect NICI’s balance sheet strength, which AM Best assesses as “very strong”, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
The fine was issued to the company for conducting insurance business in Washington state without being registered as a captive insurer between 2014 and 2021
In her previous role, Pehram introduced new ways of using Autoliv’s Utah-based captives
He first joined Autoliv in 2021 as group manager of captive and insurance
Wiedeman joins the organisation with the goal of maintaining a regulatory structure that allows for stable and sustainable growth, while presenting captive companies with a domicile where they can create innovative insurance products
In the first of two articles on captive legislation in US states, Diana Bui talks to regulators from Vermont, Utah and North Carolina about their strategies to stay competitive and adapt to industry changes
Ahead of this year’s Western Region Captive Insurance Conference, event chair Renea Louie talks to Rebecca Delaney on what to expect from the 2022 conference, hot topics on the agenda, and the current landscape of the captive industry in Western Region domiciles
Ben Whitehouse of Butler Snow and Kevin Walters of the Tennessee Department of Commerce and Insurance discuss regulatory updates and the importance of having a symbiotic relationship between the regulator and captive companies
Delegates gathered in St Louis, Missouri, for the 8th annual Western Region Captive Insurance Conference, which brought together industry leaders to help develop a ‘culture of innovation’
Travis Wegkamp provides CIT with an overview of Utah’s progress in the captive market, highlighting key regulatory changes and his future aspirations
Regulators of Arizona, Missouri and Utah give an update on the health of the Western Region captive domiciles
Michael Low and Alan Fine preview the Western Region Captive Insurance Conference, break down what the schedule has to offer, and discuss what delegates can expect
Ross Elliott of the Utah Captive Insurance Association discusses what attendees can expect from this year’s Western Region Captive Insurance Conference
Ten years after the inception of its captive insurance law, North Carolina is flourishing, having hit a significant milestone in licences, and having become the third largest domicile in the US. Ned Holmes examines what the Old North State is doing right
Sam Komo of the Missouri Department of Commerce and Insurance, Alan Fine of Armanino, and John Talley of TAL Consulting discuss current market conditions for the captive industry in the state of Missouri, as well as the regulatory environment and emerging risks
Known as the Grand Canyon State, Arizona has seen slow but steady growth within its captive industry
Travis Wegkamp of Utah Insurance Department explains that the state is seeing larger companies move to the state with more robust risk management programmes, higher premium volume, and a long-term outlook for the use of their captive
