HB936

Louisiana HB936 establishes the Louisiana Captive Insurance Act, regulating captive insurers.

Louisiana HB936 creates the Louisiana Captive Insurance Act, setting licensing, capitalization, solvency, and reporting requirements for captive insurers. The act defines various types of captive insurers, including pure, association, group, sponsored, and protected cell companies. It mandates minimum capital and surplus requirements for each type, with the commissioner having the authority to set higher requirements based on risk factors. The act also establishes a Captive Insurance Advisory Committee to advise on captive insurance market development and administration.