U.S. captive domiciles are attracting a lot of attention recently. Here is a "map" of recent captive news that will help guide you through some of the changes and trends the industry is seeing, and where it's headed in the future.
Captive owners identified their biggest concerns as policyholder retention and growth, followed by expanded utilization and collateral, a survey by the Captive Insurance Companies Association has found.
Because of the rapid growth of captive insurers in the state, Utah has added two examiners this year and will hire another within the next two months, said the state’s captive regulator.
Captive formation across the country is being driven by new legislation as well as by a "friendly" interpretation of existing laws. Here is a summary of what's happening with captives.
With a new insurance commissioner and the governor standing behind Tennessee’s captive insurance program, all the state needs to be a leader in the region is passage of some proposed captive statutes, according to an industry expert involved in formulating the changes.
The captive insurance market in the “Show Me” state is seeing rapid growth with double the number of captives: 12 licensed in 2010 compared to six on the books in 2009, according to the state’s captive program manager.
While the types of captives formed and the coverages may vary, one point regulators agree on is that business is up and more captives are in the pipeline for 2011.