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Vermont's Provost highlights role of captives as he accepts CICA Award

He is regarded as one of the most experienced and knowledgeable captive insurance regulators. ....

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Connecticut sets record for new captives formations in 2021

The Connecticut Insurance Department has revealed that it approved 13 new captive insurers in 2021 – a record year for new formations in the state. ....

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Jeff Kehler, former captive administrator for South Carolina, passes away

Former colleagues and friends pay tribute to SCCIA stalwart ....

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Aquiline Drones Becomes First UAV Company in Country to Form Insurance Subsidiary

Hartford, Connecticut (PRWEB) January 07, 2022 Since 1819, Connecticut has always been called “the insurance capital of the world.” Since the passage of ....

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Delaware Captive Insurance Legislation Signed by Governor

State’s dormancy laws now offer greater flexibility
With the Governor’s recent signature, Delaware’s Captive Insurance Division is celebrating increased flexibility in its offerings to captive insurance companies. Senate Substitute 1 for Senate Bill 36 allows captives to be classified as registered series, offers clarity to provisions regarding insuring a parent company, and allows for a captive to enter dormancy after 12 consecutive months of inactivity, rather than requiring a calendar year of inactivity.
“We continue to work to streamline processes to maintain our status as one of the most attractive captive domiciles,” shared
Insurance Commissioner Trinidad Navarro . “In the past, if a company stopped writing insurance business mid-year, they would need to wait 18 months to file for dormancy in order to satisfy the calendar year provision and become eligible, and requiring the captive to pay premium taxes and continue to submit statements to th ....

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