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 bburner@mwlaw.com.