Protected Cell Captive Insurance Companies

Summary

The bill rewrites definitions, sets capital and surplus rules, and creates a licensing framework for insurers that want to use separate “protected cells” to cover individual participants. It gives the Office of Insurance Regulation authority to approve formation, monitor assets, and handle insolvencies. The measure failed in the Senate, though a companion bill (HB 883) was enacted.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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