Bill Caption

Relating to the authority of a captive insurance company to provide reinsurance.

Fiscal Notes

No fiscal implication to the State is anticipated.

Bill Analysis

Under current law, a captive insurance company may provide reinsurance to an insurer covering the operational risks of the company's affiliates, or risks of a controlled unaffiliated business. The insurance company may also provide: employee benefit plans offered by affiliates, liability insurance an affiliate must maintain as a prerequisite for obtaining a license or permit, and workers' compensation insurance and employer liability policies. HB 1187 would allow captive insurance companies to also offer credit life insurance and credit disability insurance as a part of the operational risks of an affiliate. 

Vote Recommendation Notes