TDI Proposes Rules to Implement Captive Legislation

The Texas Department of Insurance has proposed rules to implement legislation passed in 2017 intended to make it easier to form captive insurance companies. Proposed rules would allow a captive insurance company to be formed as a captive exchange, the department said. The rules would also authorize the secretary of state to form a captive insurance company prior to receiving department approval of the captive insurance company’s formation documents. The proposed rules would allow the insurance commissioner to waive the actuarial opinion required with the annual report for a captive ins...