April 18, 2017
Today, the Texas House Insurance Committee approved legislation making significant improvements in the Texas Captive Insurance Law. The new amended bill, H.B. No. 1944, provides for:
Credit for reinsurance ceded to non-affiliated and non-admitted reinsurers which meet the standards of the bill.
The writing of life insurance when part of an employee benefit plan under ERISA.
The formation and re-domestication of captives formed as reciprocal exchanges.
The waiver of actuarial reports under qualifying conditions
The formation of captive insurer entities at the Secretary of State prior to applying for a Certificate of Authority.
Clarification of existing provisions of the law regarding the use of adjusters and investments.
For updated information on H.B. No 1944, contact Burnie Burner at 512.480.5100 or firstname.lastname@example.org.
The Between the Lines blog is made available by Mitchell Williams Law Firm and the law firm publisher. The blog site is for educational purposes only, as well as to give general information and a general understanding of the law. This blog is not intended to provide specific legal advice. Use of this blog site does not create an attorney client relationship between you and Mitchell Williams or the blog site publisher. The Between the Lines blog site should not be used as a substitute for legal advice from a licensed professional attorney in your state.