The Texas Department of Insurance formally proposed rules to regulate the state's new captive insurer market on Thursday.The proposed captive rules would regulate the new captive insurance market authorized by Senate Bill 734. Gov. Rick Perry signed the bill into law on June 14, allowing "pure" captive insurers to domicile in Texas.The bill bars pure captives from directly insuring a company's workers' compensation risks, but allows captives to write reinsurance coverage for their parent companies' self-insurance deductible programs. The rules proposal provides a regulatory fra...
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