A recently enacted bill in North Carolina will permit, for the first time, the creation of captive insurers based in the Tar Heel State. The North Carolina Captive Insurance Act (HB 473) was signed into law by Gov. Pat McCrory …
New York financial regulators have begun focusing on issues including the independence and integrity of monitors installed at banks and other companies after regulatory violations or crimes. In an economic address last week, Department of Financial Services Superintendent Benjamin Lawsky …
The New Jersey Department of Banking and Insurance announced Wednesday that the department approved Lumerica Insurance Company, a subsidiary of BASF Americas Corporation, to operate as a captive insurer in New Jersey. The Florham Park company’s principal business is to …
The Delaware Department of Insurance announced recently the final projection for the number of captive licenses the captive bureau anticipates issuing for 2012. The regulators said 2012 was the best year ever for the state’s captive growth and that Delaware …
Vermont licensed 32 new captives in 2012 — finishing with strong showings by the construction and manufacturing sectors which each had five new licensees, according to data released on Jan. 16 by the Vermont Captive Insurance Division. Vermont Gov. Peter …
Vermont is the leading onshore captive insurance domicile. The Green Mountain State now has over 900 captives, having licensed more than four times the number of captives than any other domestic competitor. Richard Smith, president of the state’s captive industry …
New Jersey regulators held their first captive insurance summit this Wednesday in Somerset, N.J. The event, hosted by the state’s department of banking and insurance, attracted some 80 industry executives. Regulators took the opportunity to discuss New Jersey’s captive law …
The Missouri Department of Insurance announced it has licensed its 25th captive insurance company. The state began allowing captive formation in 2007 and had just three licensees before Gov. Jay Nixon signed House Bill 577 in 2009. The 2009 law …
Delaware’s insurance commissioner, Karen Weldin Stewart, said this week the state’s captive insurance industry is growing at a fast pace. She also said the insurance department has recently given $250,000 from the captive insurance program’s surplus money to the state. …
Vermont will be hosting a major conference this week for the nation’ captive insurance industry. The Vermont Captive Insurance Association will be holding its annual conference from Tuesday through Thursday. Some 1,000 industry professionals and participants are expected to attend …
